should i ensure i default

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jimbob

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Post by jimbob » Mon Sep 03, 2007 7:05 pm
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I am considering an IVA and was just wondering if I should open a new bank account and cancel all direct debits from my existing one. At the moment I am up-to-date with all payments to creditors - should i ensure i default to make them more likely to agree to an IVA?
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MelanieGiles

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Post by MelanieGiles » Mon Sep 03, 2007 8:07 pm
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You only need to open a new bank account if you bank with a lender to whom you are indebted. Also avoid HSBC accounts as this bank has a policy of closing them when they find out their customers have entered IVA proceedings.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

Appoint me as your IP:
http://www.melaniegiles.com/ivaEnquiry.asp
Regards, Melanie Giles, Insolvency Practitioner
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