Posted: Sun Jun 28, 2009 7:08 pm
what is the best solution when going into an iva with a bank overdraft we do not want to exceed and get charges but want to keep another bank account we have with no overdraft facility.
Your bank account with charges will be included within the IVA. If you have another bank account and it is not with one of your creditors, then it should be ok. You cannot have an overdraft facility.
Be warned that if it is with First Direct or HSBC, they will probably close your account as they are not IVA friendly.