Sarbear1969 wrote:Hi all, I have got about 15-months left in my IVA and I am now concerned about some extra credit I have. I have got an overdraft of £1,000. As I was in my last year a family member was going to pay off the remainder of my IVA which is why I took out my overdraft. The family member has now let me down and I have just been asked by my IVA company to provide paperwork for my annual review. I'm obviously really worried now as my IVA will fail and I don't know what my options will be. Really annoyed with myself for failing when I am so near the end. Can anyone offer me any advice?
Can you repay the overdraft, thereby rectifying the potential breach ? Most arrangements allow credit, without the IP's permission to £500, so, if yours does, you ony need to get the O/D down to that and get the facility reduced to that figure also.
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