www.iva.co.uk

Hi there, I joined the forum on Friday when finally facing up to my problem! Thank you all for your support and advice, its nice to know I'm not the only one in this situation! I was wondering whether my bank (Barclays) who myself and my husband have a large overdraft and unsecured loan with are able to stop me accessing my account. Both our salaries are paid directly to the bank monthly, now that they know we're in trouble could they stop us accessing our monthly salary to enable them to reduce our debt? Any advice would be appreciated!

It would be wise now to open a new account with a bank that is not one of your creditors.
Also i would speak to an insolvency practitioner about ALL the options available to you regarding your debts.

Do you have any other debts with other companies???

I agree with Mrs S. You need to open a new account with a bank that is not one of your creditors. Co-op do a good account, as do Nationwide. HSBC and First Direct are a no-no as they tend to close the accounts of people in an IVA (if that is the way you go).

Barclays could take the money out of your account to offset against any borrowings.

Make sure that you open your new bank account with a bank that you do not owe any money to. A lot of people recommend the Co-op and the Yorkshire banks.

Or the Abbey.You might also consider a pre-paid debit card which has a full billing facility. Whichever you choose move quickly and open that new account.