www.iva.co.uk

Am I allowed to accept an overdraft within an iva arrangement?

Hi Rachel and welcome.
No, overdrafts are not allowed as technically its credit.

Mrs Skint is correct, you are not able to take any further credit while in an IVA and that includes and overdraft.

It depends on the terms of your IVA, normally there is a section on obtaining further credit and ou also need to check the modifications in the chairmans report.

I have seen some proposals that simply state that you need your Supervisors permission.

You should not take out any credit during the period of the IVA without seeking your supervisor's permission - who then may need to seek sanction from your creditors.