www.iva.co.uk

we have received a letter from our bank advising us that we have 14 days to pay our overdraft of £2700 or they will take action against us.(baliffs,courtetc).We informed them of our present financial position (dire)including all available facts and figures.They said that this was not a satisfactory situation.Any information gratefully excepted.

Do you have other debts that you are struggling to pay on top of this Pete? Which bank are you with?

hsbc is the bank and yes we have other debts which we are paying.We have been paying other creditors with various amounts as agreed with them.We are looking at doing an iva in the not to distant future.

HSBC were one of our creditors, an overdraft, credit card and loans with them and they never took any action against us at all.

I think you should give one or two companies a ring for some free and impartial advice.

Same with me hsbc is a creditor they are terrible at sending letters though and phone calls non stop and always an overseas calls centre

I would definately take some professional advice if you are considering offering an IVA to your creditors. Your chosen IP will be able to then deal with this bank letter for you.

If you've not already chosen a company why not take a look at www.iva.com for a list of companies and some reviews, always contact 2 or 3 and take case specific advise from them on all debt solutions suited to you. All the best x

Hi
Speak with a couple of companies/experts and explore all options.
Have a look at the Co-op Cashminder account and move banks asap
Regards