Don't touch HSBC or First Direct as they don't like IVA's and, even if not a creditor they have been known to close accounts
I would not cancel DD's etc until you have decided what you are doing. Whilst a couple of missed months allows you to build a small emergency fund, more than that will give the creditors time to enforce payment, should they so wish, before you can get the protection of an IVA in place.
Make sure you have explored all options, not just an IVA to ensure it is the right option for you.
I've made a quick video about bank accounts in Bankruptcy, which applies to IVAs too here:
It is recommended you open up a basic bank account with a difference bank to fall back on.
Nationwide seem to have good accounts for those entering IVAs if they are not one of your creditors.
Who is onlineUsers browsing this forum: No registered users and 24 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location