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If you enter into an IVA arrangement, do you have to include every debt you have? For example,if you are self-employed and you have cc debt, bank overdrafts, vehicle lease payments AND a business bank account overdraft? Would it be possible to exclude the business account overdraft from the arrangement to allow the self-employed business to continue?

Hi conv and welcome to the forum.

Yes - you must include all of your debts within an IVA proposal, regardless of whether they are business related or personal. So your business overdraft would have to be included - but your bank may still allow you to continue to use the account.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

hi i'm self employed and included my business overdraft and business loan into my iva in sep 06 i had to change business bank accounts which i did before my iva started. It has not affected my business at all only in that my business account was started again from scratch and i am now always in credit.