My current account (part of my IVA approved 1.4.09) which has a balance of approximately £8k overdrawn and an overdraft limit of £10k still seems to be active.
I received a new chequebook the other day (not that I've written any cheques out for months), British Gas managed to set up a new direct debit on it and I can still log on to the account (and I suspect process transactions). Bank charges and interest are still being applied. I also get the occasional bit of marketing stuff offering me loans etc.
Do I need to be worried about this? Will I be liable for anything that goes through this account post 1.4.09, the date my IVA was approved?
Is it something my IP/supervisor needs to know about?
Debt problems, what debt problems? I'm not in De Thames, I'm in De Nile.
I would mention it to you IP as the bank should not still be doing this.
You need to cancel the British Gas DD as well. You will not be liable for anything on this account now as it was included in your IVA.
Your IP may need to speak to the bank, or may suggest that you need to.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Do make your IP aware of this out of courtesty, but rest assured that the bank cannot continue to accrue interest and charges once an IVA has been accepted.
LLoyds were my main creditor and I held a current account with them. The money I owed was on their credit cards but I had no overdraft. I switched accounts before enterng the IVA and transferred all the money from LTSB to my new account. Even after the IVA had been set up, Lloyds continued to send me new cheque books and a debit card and allow me to log into my account.
Nicrbk1 - HSBC did exactly the same to us - new credit cards, new debit cards all after I told them I was going for an IVA and had sent cards and cheque book back
There's a difference though between them doing it before you go for an IVA (even though they should take note of what you are doing) and then doing it once you have been approved.
They won't get any extra money and the account should be closed, which is what HSBC did with ours.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Clowns they are Jan - even reduced the amount they claimed for the IVA! Still offering my son loans - telling him what an advatangeous rate they are offering him. He sends them all back in their SAE!
Don't blame him David. Hopefully he will never have the same problems we are in - I hope my daughter learns from our mistakes.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Your daughter and my son are far too sensible - but then Jan the problems we are having are not all of our own making - the majority maybe but not all- circumstances and circumstances. Hindsight - what a marvellous thing !!!
This will make you laugh Jan - our GP has quite a sense of humour - ex military - he got so fed up with credit card people offering this that and the other - he had a stamp made - the first word was "bull" and the second began with an "s" and ended in a"t". He stamped the forms with that and posted them back!! He uses the same stamp when the Council write and tell why he is having inreases in our community charge!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Oh! I forgot to tell you about the post put up at NR. There is a note in their window protesting but telling people not to believe "what you may have read in a provacative and untrue note illegally stuck to the window" and assuring customers that they will be dealt with sympatheticaly in the event of difficulties>
The words 'sympathetic' and 'Northern Rock' are not exactly synonymous are they?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
