www.iva.co.uk

Hello

If I were to propose a lump sum IVA and it was accepted. Would I be allowed to upgrade my account. I do not want an overdraft, I have got used to 'what you see is what you have'. Wouldnt ever want a credit card, still wearing that T shirt. Just a debit card would be really useful. Would this stay on file for 6 years, the only thing that I would ever have is a car loan/HP.

Thanks in advance

LILY

Your IVA will be registered on your credit file for 6 years from the inception regardless of when you complete it. At any point during this time you will be allowed to have a debit card. The problem is finding someone who is willing to give you one. Why not ask your bank account provider if they can upgrade your card to a debit card. They may have to ask their underwriters to do it manually because with your IVA registered on your credit file you will have a negative credit score. There is no harm in asking though, just make sure that you don't take any credit products whilst you are still in your IVA, although from reading your posts I am quite confident that you are not going to let that happen.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Wild horses wouldnt drag me in that direction again.
my future is black, in bank balance terms

thanks though,

LILY

Glad to hear it Lily, I think it's the best way to be.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

I don't know if it helps Lily but Yorkshire bank offer a Basic account called Readycash - there are no overdraft facilities and no interest paid on the credit balance but you can set direct debits up from the account and you get a maestro card.

thanks giz, I will check this out. Dont know if they operate in my area.

LILY