Is it worth opening a new account sooner rather than later and just having it there for when the IVA goes through (hopefully).....
With that in mind... What about the overdraft fees on existing accounts ? I like so many others, live in the overdraft, get paid, pay bills and am then back into the overdraft. If I put all my wages into a 'new' basic account, I will be overdrawn and incur charges. The charges will put me over my limit and incur more charges. How have people dealt with this in the past ???
If the account has to be left behind anyway then you should do so without a backward glance. Theoretically, your creditors could levy a million pounds in interest and charges, but if the IVA is accepted then they will, like as not, have to write it off at the end anyway.
It is the future, and part of that is obviously regaining control of your finances through a new account, that is important, not the mistakes of the past.
I am sure that a quick call to your IP should put your mind at rest.
23+ years in debt advice
I do not post for anyone other than myself
Opening a new account should be one of the first things you are advised to do by an IP, if you have debt with the bank with whom you have your current account. If you are intending on applying for an IVA in the near future, I would get onto this without further delay.