www.iva.co.uk

I entered an IVA plan a few months ago. One of the mistakes that I had made on my IVA is the estimated value I had placed on my basic grocery shopping. I didn't realise that most of the groceries had gone up in price from many years ago. And I had come to realise that it is virtually impossible for me to manage without cutting into my authorised overdraft. I have no other extra expenses. I just live on the basics. Will the fact that I am cutting into my overdraft be sufficient grounds to opt for a bankruptcy? Will it hold up in court? I am trying to stay away from bankruptcy by looking for a job that pays me better but for now this is the reality.
Appreciate any advice you can share.

Hi i think this question has been answered already.
You shouldnt have an overdraft, thats not allowed in an IVA as technically its credit.

If you want to file for Bankruptcy, just let your IVA fail by missing 3 months payments then apply to the court.

Has not this been posted in another thread?

It has, and has been answered, so I'll lock it.