Barclays Current Account

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kirstiehutch
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by kirstiehutch » Tue Nov 06, 2018 1:08 pm
Hi new to this
Considering an IVA but what happens to your long running current account if you enter into an IVA? I am with Barclays
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kallis3
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by kallis3 » Tue Nov 06, 2018 1:25 pm
Are they one of your creditors? If not you should be ok - we had a Barclays full account throughout our IVA's.
kirstiehutch
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by kirstiehutch » Tue Nov 06, 2018 1:33 pm
kallis3 wrote:
Are they one of your creditors? If not you should be ok - we had a Barclays full account throughout our IVA's.


I have an overdraft facility but I use a savings account with them and transfer in and don't go over my overdraft limit
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Foggy
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by Foggy » Tue Nov 06, 2018 2:17 pm
The o/d facility will have to be withdrawn. If you are in overdraft this will be included in the IVA and the account might well be closed. It would be safer to open a basic account elsewhere in this event.
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Lisa Thomas
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by Lisa Thomas » Tue Nov 06, 2018 2:34 pm
I always recommend you open up a new basic bank account with a different bank before you propose an IVA just in case the account is frozen or closed during or after proceedings
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Lisa Thomas
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by Lisa Thomas » Tue Nov 06, 2018 2:41 pm
Here is my video on the same subject:

https://youtu.be/nAXh_0vWt58
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kallis3
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by kallis3 » Tue Nov 06, 2018 2:58 pm
Co-op come recommended.
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