www.iva.co.uk

Hi, i have just started an IVA one month ago and went £200 overdrawn recently for 3 days due to an oversight. The overdrawn amount has been cleared but i am worried the IVA will now fail. I'm not sure what to do or will what happen. Any advice would be greatly appreciated.

Hi doogs and welcome to the forum. Your IVA won't fail because of your oversight. It's cleared now and we are all human and make mistakes.

Hopefully the budget will be better this month.

Hi Doogs, as Lesley rightfully says .. all will be well. But .... there shouldn't be an overdraft facility on your account ... or was this unauthorised ??

The overdraft should be taken off the account.

Paul

Hi, Thanks for the response. It was unauthorised as i don't have and overdraft facility. Informed the bank never to allow this again. Ultimately it was my fault which i will not allow to happen again. Should i inform my supervisor on Monday?
Thanks

I don't think personally there is any need, Doogs, you've made a mistake a genuine mistake that any of us could make and like you say you've instructed the bank not to allow this again so measures are in place for this.

I know it's easy for me to say but try not to worry and if you do feel better informing your IP then do so and I'm sure all will be fine. x

Let your ip know but don't worry about it. Did you get hit with bank charges?

Paul

Hi Doogs and welcome. You will be fine, your IVA won't fail and you'll be back on track before you know it!

I can only speak from my own experience but no credit checks were ever run on me for the duration of my IVA so don't think you will get found out.

Maybe you should speak to them though if you are struggling to manage - perhaps you need to revise your payments.