www.iva.co.uk

I would like a small overdraft of say 100 just to stop me incurring bank charges. Is this possible if I contact my IVF provider?

This would be allowable as you can usually have credit up to £500 without even informing the IP. However the bank may not sanction it anyway. It is probably better to try and avoid the charges.

Hi and welcome,

I agree with Michael but would also ask why you need to have an overdraft - if you are struggling then you should speak to your IP.

I agree with the others.

The idea is to get out of the cycle of having to rely on an overdraft.

No overdraft, credit card etc.

We are coming towards the end now and if a charge occurs its because we have made a mistake and miscalculated - we take it on the chin and pay it.

Fortunately it only happens once in a blue moon but we are only human.

Hi,

Why do you incur bank charges?

Do you mean for a failed direct debit?

If so check out other banks because a lot of them have abolished such charges. Barclays, for one, have done this. I'm pretty sure HSBC have too.

Note that the charges have been abolished only for the basic accounts. I think there was some government thing about it stop kicking people when they are down (like you have no money so we're gonna make it worse by stinging you for £25!)

I keep a "buffer" of £100 in the account at all times which is enough to cover most minor oversights. I consider £100 to be zero. Also can be used for emergencies [:)]

you would be lucky to get a overdraft when in your iva. I have paid off my iva, but sill cant have a overdraft from the bank.
which makes my laugh as they give me a c/card which is paid off in full in each month.

Which bank are you with Judie?

I have a full account with Barclays and I can't get an overdraft.