www.iva.co.uk

With an IVA will I still be able to stay in my rented property and have a bank account with a normal debit card?

Hi hayleys and welcome to the forum

I am sure that you will be able to continue residing in your property, and a bank account will also be possible so long as it is not held with a bank to whom you owe money. If this is the case then you will need to open a new account with an alternative provider.

Hi hayleys,

We live in rented property, never owned our own house. It hasn't caused any issues since we started our IVA last year. The only thing we have come across is if we want to move we would probably have to choose private rented again as otherwise companies do credit checks and I can't see them giving us the ok???!![:I]

We opened up a bank account with the Nationwide, it was just an account with a cashpoint card as you would expect.

It is very likely that you will be able to continue living in rented accomodation once in your IVA. You will be allowed a budget to continue paying your rent each month and unless you owe your landlord money there shouldn't be a problem with continuing your present agreement.

Thank you for your reply. So many questions going round in my head at the moment about the IVA. One thing is that I was in the process of claiming back about £2,000.00 worth of bank charges. This is part of my IVA debt due to overdrafts, should I let my IVA handler know this? I heard on the news today that if you are in financial difficulty the banks have to deal with your case now rather than put it on hold until the courts make their decision as to whether the charges are fair or not. I would be grateful for a reply.

Many thanks.

Yes discuss this with your IP.

I believe any potential claim pay out would either be deducted at source from the money you owe that particular creditor or would need to be paid into your VA.