Hi I am in the process of doing a new bank account. My creditors meeting is on the 15th April. I was due some money from my old employer which was paid into the account today. Went to draw on it and account is now frozen. My overdraft is £500 and the money I received was £490. Would the overdraft not be in the iva? If anyone can clarify for me please regards
The overdraft would be included in the IVA, but it is not IN the arrangement until such time as the IVA is agreed. The bank is legally, if not morally, entitled to collect on an unprotected debt, having been made aware of impending insolvency.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk