www.iva.co.uk

we have over 15000 debt and are thinking about an iva.my partner and i are not married but have been together 15yrs,would we be able to do a joint iva?also my partner is in debt with the bank so will have to close the account and go elsewhere..but my bank account is fine and has never been overdrawn,so will i be able to stay with this bank or will i have to close it?thankyou.

Hi JMB

It really depends.

For instance if you have an overdraft facility and credit cards then there is a danger of the bank closing the account.

If you can keep the account with funds and you stop the overdraft and other credit facilities then you have a reasonable chance of keeping the account.

I would also suggest that when you set up the IVA standing order you make no reference to the IVA!

Good Luck

Hi JMB, it also depends on which bank you are with - if it's HSBC or First Direct it's a definite no-no as they close the accounts of people in IVAs.

I was able to keep my account when I was in an IVA as I had no credit facilities and the bank weren't one of my creditors.

One last thing - there is actually no such thing as a joint IVA. If a couple are both looking at an IVA they can be proposed with one payment, but the IVA's are individual.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Hi jmb,

-If your current bank account is with a bank to which you owe money then you will need to open up a new basic account with a bank to which you are not indebted. But it really depends on which bank you are because there are many banks closing accounts of people in an IVA.
-You can't do a joint IVA but you can do joint proposals.

Regards,
Michelle P.