Posted: Sun Jun 24, 2007 11:43 am
I'm going though the IVA process and my creditors meeting is the 6th July. I have around £75,000 worth of debt and the proposal is to repay £450 per month, dividend being around 27p in the £, if I have understood it correctly. I am solely going through the IVA but my husband and I had a joint account. In true Firstdirect form, we have received seperate letters this morning saying they are closing our account - which was expected and I had already followed Andy's advice on another forum thread and switched to thinkbanking. The problem being that we have currently a £1300 ovedraft on the account they are closing. Our approved limit was £500. The overdraft is being included in the IVA proposal that firstdirect have been sent, but they are also going to chase my husband seperately for the overdraft in addition to receiving the dividend from the IVA (if agreed).
My question is really, has anyone been in this situation with a bank, and how did you solve it? My husbands income has been included in my IVA proposal so all spare cash is already going into the IVA payment. Does anyone have any expereince or suggestions of what kind of payment from my husband they would accept? We could maybe pay around £20 per month out of the allowance that has been made for our living expenses within the IVA, bearing in mind they will also be getting the payment from the IVA.
Any advice would be appreciated.
Thanks you and keep up the good work - this site is a lifesaver!!
My question is really, has anyone been in this situation with a bank, and how did you solve it? My husbands income has been included in my IVA proposal so all spare cash is already going into the IVA payment. Does anyone have any expereince or suggestions of what kind of payment from my husband they would accept? We could maybe pay around £20 per month out of the allowance that has been made for our living expenses within the IVA, bearing in mind they will also be getting the payment from the IVA.
Any advice would be appreciated.
Thanks you and keep up the good work - this site is a lifesaver!!