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Sarbear1969

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Joined: Sun Jan 27, 2019 7:53 pm

Post by Sarbear1969 » Sun Jan 27, 2019 8:05 pm
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?

Foggy

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Post by Foggy » Sun Jan 27, 2019 9:07 pm
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.
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

Sarbear1969

Posts: 2
Joined: Sun Jan 27, 2019 7:53 pm

Post by Sarbear1969 » Mon Jan 28, 2019 7:39 am
I’m afraid I’m not in a position to reduce my overdraft and I’ll slso need to send a copy to them for my annual review
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