creditors

[aerohead]

I meant "until i decide what" to do in previous message

[aerohead]

I will get it right in a minute
"Until i decide what to do" then i take it that there is no problem with me continuing to operate my businees and personal accounts in overdraft even if the become swallowed up by dmp or iva at a later date

[ivas4us]

Have you spoken to an IP yet as I feel that you need some sound professional advice.

[aerohead]

No not as yet

[ivas4us]

I think it might be time to speak to an IP. Try www.iva.com for reviews of suitable companies and ring 2 or 3 to get a feel for who is suitable for you. If you are self employed you may need to see an IP in person. You will see also from other posts how individuals feel about thier own IP. I am with cleardebt and have no complaints whatsoever. I have been treated really good all the way through the process.

[kallis3]

Just to add to ivas4us's post - if you are self employed, then you have to have a face to face meeting if you do an IVA. This isn't necessary if you do a DMP.

[aerohead]

Ok thanks again - but my question still remains can i operate my bank accounts until I decide which path to take or until I open another account.

[kabby3]

Yes but just remember the off set rule and setting up a new account will take a week or so, I would be worried that they would take my money and I wouldnt have any money left. You seem undecided which way to go so as previous poster have advised you need some professional advise. Melanie Giles and David Mond come highly recommended I didnt use them, because I hadn't found this forum and I used Freeman Jones, but wish I had used an IP on this site take a look at IVA.com and look at feedback on all IVA companies xx good luck

[ivas4us]

The only trouble is that you will run the risk of them taking money from your account to pay other accounts you have with them. Also if you leave it too long you run the risk of not getting another account. I tried about 6 banks and got turned down at all of them before I discovered an old doormant account still open with the nationwide which I was able to use. In answer to your question though yes you can but in my opinion very risky. Hope this helps.

[aerohead]

Ok many thanks - i am ok with my bank though as i have not missed any payments on my card as yet and am within my overdraft limit - thanks to all for your advice, I have gained a lot of strength from this forum and I will definately talk to an IP soon

[aerohead]

One more thing i cant remember if i mentioned - the accounts are operated in overdraft is that ok - sorry but seem to having real panic tonite

[ivas4us]

good luck in getting things sorted but I think a new bank account is probably best sorted as soon as you can.

[ivas4us]

dont think it will make any difference at this moment in time.

[kabby3]

I dont understand your point when your embarking on an IVA or DMP you walk away from all your existing lines of credit and set up all new. Also it would be so much easier to set up a new account before your credit rating is shot to pieces.