Hi, Ive been in my IVA for a few months, with no problems until now.
I was never in debt to my bank so just kept the current account I had with them to save all the faff of changing, (my IP said it was ok) they even knew about the overdraft facility.
Ive just been online to check my account and I'm overdrawn
My employer has cocked up the wages this month and without telling us (I'm on holiday at the mo) my mortgage has come out and i'm 600 quid overdrawn.
The wages are supposed to be going in on Friday so I'll be up to date with my payments, but am I now in breach of my IVA??
I knowwhen we started our IVA we were told we couldn't have any credit at all whish included overdrafts. Not too sure how it works if your IP was aware of it in the first place.
I am guessing your wages were meant to go into the bank and havent?
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Do not be concerned but let your IP know anyway what has happened. Luckily you still had the overdraft limit otherwise you would have incurred charges which your employer would then have had to reimburse. If you have any doubts about receiving your wages it might be worth suspending any IVA payment until your get the money in case the problem is more severe than a 'cock up'.
Its ok, I don't have any worries about receiving my wages, I know I'll get it, they said I could go and get a cheque from them today if I wanted but there is no point because it'll only take the same amount of time to clear as when my wage will actually be in my bank.
My IVA isnt due out for a couple of weeks so I'll leave that be for now.
