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Posted: Sun Oct 23, 2011 6:20 am
by vaughanie
hi again creditors meeting fixed for 2nd november,
I cancelled direct debits, but my natwest loan is still going out on the 24th ( i used to bank with them) have spoken to them unable to stop it hence it will make me overdrawn about £470.00, first time ever to be overdrawn, unable to contact payplan until monday to tell them,worried as I do not know if this will affect my iva chances,I was told by payplan that all creditors would know about my situation by last wednesday, apparently nat west did not
can any one advise thanks in anticipation
Posted: Sun Oct 23, 2011 8:06 am
by kallis3
Don't worry about it vaughnie - most of us have been in the same position. HSBC used to take my payment out every month even though there was insufficient money in there to cover it. They'd then pay it back and charge me for doing so!! It would make me even more overdrawn.
Natwest will know about your proposed IVA, they just like to keep taking their money out and I doubt they will let you cancel the payment.
Just tell Payplan tomorrow. They're well used to this situation.
You have nothing to worry about.
Posted: Sun Oct 23, 2011 8:54 am
by Shining
100% agree with Jan, I cancelled all so's/dd's with HSBC yet they continued to take their loan payment thus increasing the balance all the time and then said yes to the IVA, have a word with your IP for peace of mind but I'm sure it's fine. x
Good luck for the meeting date by the way not long to go now. x
Posted: Sun Oct 23, 2011 9:34 am
by oscar
vaughanie good luck for 2nd Nov. By speaking to your IP you'll feel better about this situation. Once your IVA is approved and things are a bit further forward I hope that you can start to feel less worried about things. Hugs
Oscar
Posted: Sun Oct 23, 2011 10:13 am
by kallis3
Good luck for the 2nd vaughnie.
Posted: Sun Oct 23, 2011 11:40 am
by Rosepetal
it's difficult to grasp but it'll make no difference to you IVA. hang in there.
Posted: Sun Oct 23, 2011 5:40 pm
by vaughanie
many thanks for your best wishes shall let you know the outcome once spoken to payplan
thanks to you all for the great support
Posted: Sun Oct 23, 2011 5:58 pm
by kallis3
I'm sure you will be fine.
Posted: Sun Oct 23, 2011 6:34 pm
by kazzafunk
Let me assure you it will make no difference to the outcome. By the time our IVA was approved we were £1000 over our overdraft limit as HSBC kept on paying out direct debits and they did the same with my loan with them (paid it out, then put it back in and charged us a hefty sum). They still agreed with the IVA and we had a current account, 2 x credit cards and 1 x loan with them. To be honest it just shows that you are insolvent and further strengthens your case.
Posted: Sun Oct 23, 2011 6:41 pm
by kallis3
You were luck kazza - ours was getting on for £3k! All our other DD's had been changed over and even though I tried to stop the loan they just didn't want to know.
It will have no difference on the outcome at all.
Posted: Mon Oct 24, 2011 6:21 pm
by vaughanie
hi
spoken to payplan as you said they will include in iva and said not to worry
thanks again
Posted: Mon Oct 24, 2011 7:14 pm
by kazzafunk
Glad your mind has been put at rest.
Jan - I didn't say how much our overdraft was!! We were way over 2 grand by the time it all went through!
Posted: Mon Oct 24, 2011 10:51 pm
by kallis3
Good news vaughnie.
Posted: Tue Oct 25, 2011 5:32 am
by Shining
Hopefully that reassures you and do keep visiting the forum for any support/advice you may need x
Posted: Tue Oct 25, 2011 9:15 am
by orange
it makes me cross how banks charge you even more money for a unpaid item due to not enough funds how does that help anyone!.I know many posters on here were not allowed overdrafts we had one during over iva which was obviously in the red all the way through and it was never mentioned by our IP ! .Good luck in your iva journey