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Posted: Tue Oct 30, 2007 8:10 am
by carole.m
If i enter into an iva will i still be able to have an overdraft with my bank
Posted: Tue Oct 30, 2007 8:20 am
by hallway
Sorry to say no you wont, no credit at all allowed.
Posted: Tue Oct 30, 2007 11:33 am
by Adam Davies
Hi
Your overdraft will have to be included in your IVA as one of your debts,if you are actually overdrawn,and as Hallway states you will not be allowed any further credit once in an IVA.
Regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Posted: Tue Oct 30, 2007 1:22 pm
by Oliver
Your overdraft is a unsecured debt and as such if you have used this it will have to be included in your IVA. In this instance you will have to open a new bank account to use. If you haven't used your overdraft this will not be included in your IVA but you will have to cancel your facility as you are not allowed any further credit once the IVA is in place (without the express permission of your IP).
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp
Posted: Tue Oct 30, 2007 4:53 pm
by iva experts
Hi Carole.m
As others have mentioned, your overdraft amount will need to be included in your IVA proposal as this is unsecured.
You must then open a new BASIC bank account with a lender that you do not owe money to and ask that you have no credit facility.
Best Regards,
IVA Experts
http://www.iva-experts.co.uk/