Will I be able to keep this with a IVA

[b_g]

I have a visa debit card with my current account. Will I be able to keep this with a IVA

[MelanieGiles]

Yes - so long as your bank account is with a bank to whom you do not owe any money. If it is, then you will need to open up a new account with a different bank who may not allow the debit card facility.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Skippy]

Is the bank one of your creditors? If it is you will need to open a new basic bank account with no credit facilities. If you bank is not one of your creditors you should be ok, providing you are not with HSBC or First Direct as they have a policy of closing the accounts of people in IVA's.

My current account was with Lloyds TSB and I kept that open with my chequebook and debit card, so good luck!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Skippy]

Sorry Melanie, your reply wasn't there when I started typing!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Sadsack]

I had an overdraft with Barclays which formed part of the IVA. I informed my company that the account was closed and gave them the new account details. Unfortunately they forgot to BACS my salary to the new account and paid it over to my Barclay Account. Barclays then sent a letter to me saying that as my company had paid in my salary, I was no longer "indebted" to them and they would reinstate my account. My company now deduct, albeit without my permission, monies from my salary to pay them back as they performed a CHAPS transfer to my new account. I now have the honour of having a debit card and cheque account (with NO CREDIT I might add) which is of course no use to me as I have no money to put into it!!! But having said that, even if I put just £5 of my food budget into it and cut out all the cheese that I eat, I should have a nice little earner in 5 years!!!!!!!!!!!!!!!

Sue

[iva experts]

Hi B G
You will need to open a new bank account if you have debts with the same bank, if not and if your not overdrawn and dont have loans then you should be able to keep it.
If you do open a new bank account you probably wont get a debit card but a cash card.
Opening a basic bank account with whom you dont owe any money will ensure that your income will be safe.

Hope this information is of use

Regards. IVA Experts

[Adam Davies]

Hi
There are some accounts that will give you a debit card,one is Think banking[£12.50 monthly charge] and the Co-op have a cashminder account that offers an electron debit card[no charge].
Please let me know if you need further details.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp