www.iva.co.uk

I have a Barclaycard & Barclayloan that will be proposed in an IVA but my Barclays bank account is not overdrawn. The company account is with them also . Can they touch the company account as I am a director? There are 4 other directors as well.

Hi Honeybunny

The answer is no they can not touch your company bank account as a limited company by law is a seperate legal person. Especially as there are 4 other people involved with it.

However the bank might request that you are removed from controlling the bank account though.

Barclays might do something though with your current account and might close it. So you will need to seriously consider moving to a Basic account such as the Co Op Cashminder, HBOS easy cash account, Think banking, Bread, or any account that will give you a basic account.

In addition you will need to get a Tuxedo or Cash plus Mastercard as well!

Hope this helps and Good Luck

Hi Honeybunny,

Lloyds TSB offered me a decent basic account with visa debit card and cheque book. I explained that I was entering an IVA at the point of opening and they were fine about it.

Martin

Thanks