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Posted: Mon Nov 19, 2007 6:51 pm
by 63k
I have a new bank account with an overdraft of £500, we have asked it to be reduced to £10 so we cant use the facility but will have the benefits of the account, cheque book, debit card etc, would you say this would be acceptable with the IVA hopefully going through.
Posted: Mon Nov 19, 2007 8:43 pm
by plec
HI 63k
when in a IVA you canot have a overdraft you are not allowed any cedit
High hopes & skint pockets!!
Posted: Mon Nov 19, 2007 8:59 pm
by MelanieGiles
You can have an overdraft facility - you will just not be permitted to use it!
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Mon Nov 19, 2007 10:32 pm
by Skipper
you have to look at the creditor modification- chequebooks,debitcards are allowed as long as there is no access to O/D facilities as mine says.
In the proposal credit allowed upto 500 to replace household essentials as long as it does not interfer with my payment. A curious mod
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