I have gone into an overdraft and worried ..

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annesa

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Post by annesa » Sun Aug 04, 2019 7:47 pm
Hi, this is my fifth year of IVA and my annual review is coming in this month, and I recently went overdraft in my bank account, what should I do? What will happen? I am so afraid of what's going to happen.

Thanks

Hultonlady19

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Post by Hultonlady19 » Sun Aug 04, 2019 7:59 pm
How much have you gone overdrawn ? Are you going to be out of it / be able to remain or of it ?

Foggy

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Post by Foggy » Sun Aug 04, 2019 8:02 pm
It will depend on the amount involved --- and what the bank does about it .... I am surprised you still have an overdraft facility.
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

luluj

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Post by luluj » Mon Aug 05, 2019 12:52 am
I know others have asked by how much .... I doubt this late into your iva it will cause huge concern for creditors, but think its wise to understand why so that you can try and complete the final months in "credit" ...even if you need to seek a payment break to bring you back in line ....
Sharing from experiences of dealing with debt

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kallis3

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Post by kallis3 » Mon Aug 05, 2019 8:51 am
Was there a specific reason you went into an overdraft?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

annesa

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Post by annesa » Tue Aug 06, 2019 6:31 am
Hi thank you all for your replies. I went to overdraft twice with total amount of £30 in june I am in credit ever since, I am usually careful but forgot to account for two direct debit transactions, do you guys think will it affect my iva? At this moment I am thinking whats done is done and will deal with whatever comes.

kallis3

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Post by kallis3 » Tue Aug 06, 2019 8:51 am
I think for that amount you will be ok, especially you are now back in the black.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Tue Aug 06, 2019 8:54 am
For £30 I do not think there will be any issue, especially if you have the usual clause whereby you can obtain credit up to £500 without the IPs permission (generally to cover things like credit on utility accounts and monthly car insurance). It isn't as though you went out and bought a new TV.
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

luluj

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Post by luluj » Wed Aug 07, 2019 1:33 am
Sleep easy... they are not going to query £30. There will be others that go far more into debt on a overdraft that will send alarm bells ringing. You will be fine I am sure.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

annesa

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Post by annesa » Wed Aug 07, 2019 6:37 am
Thank you all so much, i was so worried about this, now I feel much better, you guys are great and doing great work to help people through thier tough time. Wish you all the best and take care :) :)
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