I have a query on Bank accounts. I have no ties with Barclays and have opened a basic account in preperation for possible doing an IVA. My wife banks with Barclays and would need to include an overdraft she has with tme as part of the IVA that we are looking to do. Would Barclays therefore let me keep my bank account with them, if my wife is in an IVA and has a debt with them under the IVA ?
Your bank account with them will be fine, as they are not one of your creditors. However, your wife would be advised to open a new account with a different bank.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If you are a party to the overdraft then this will need to be included into your IVA. The bank may well let your wife continue to operate the account, but this ought to be checked out at an early stage so that you do not jeopardise her position.
Hi Mel, I am not party to the overdraft as we dont share any joint accounts. I assume Barclays would not let my wife keep a basic account with them if she went into an IVA ?
Your post says that there is an overdraft which she shares with you! Have I read this incorrectly? Your wife will probably be allowed to retain her bank account if she has no other debt with Barclays.
I think it's a spelling error as well, at least that's the way I read it, which is why I said she should perhaps get a new account if they are one of the creditors?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sorry - it is a spelling error. My wife has the 2 bank accounts both with small overdrafts with barclays, in her name. We don't have any joint bank accounts. So would it seem possible for her to keep one of these ? Would it be advisable to try and repay one of the overdrafts so she only has one debt with them ? No other barclays debt exists. Maybe this would then seem more attractive to them to keep one acc open ?
