www.iva.co.uk

hello
I wonder if anyone else has had the problem I have now
we are self employed have been into an IVA since April everything seems to be going well at the moment. We have been approached by our busines bank for a meeting to discuss why we entered into an IVA we have been told that now we are in one we will have to passed onto another manager to deal with our account now. For this they are going to charge us 200 pounds per month and say we have to pay it
would be happy for some response to this please
many thanks

OMG! I'd seriously consider changing banks!
Don't know the answer to this one, but I'm sure an expert will be along shortly to offer advice.

I have no idea on this one either but it doesn't sound right to me.

Hopefully one of the experts will be along later to advise.

Do you owe any money to the bank with regard to your business?

hello mel
thankyou for your reply. we do have a business mortgage with the bank it is a secured loan our business account is now looking a lot heathlier since we are not paying out all of this personal debt that we had. The bank has also commented on this to say they are now pleased with the way the account is being run. this is why I now do not understand why they want to charge us this now to put more pressure on us

I think that banks can charge what they like to be honest - I just took a temporary loan out with my bank in order to buy out a former business partner, and they debited my account with a £1,500 arrangement fee without even bothering to mention it to me!

That's disgraceful!

really it is like they can hold us to ransom we have no choice when in an iva we have to accept what they offer I think just to keep going the best we can

Maybe if you explain this to your new buisness manager they could reduce the charges? Can't hurt to try.