Will my IVA affect my bank account?
You may find that you are only able to have basic banking facilities and you will only be able to set up a basic account with banks who are not also one of your creditors.
The main features of a basic bank account include:
- No overdraft
- No credit cards
- Can set up direct debits
- Can set up standing orders
- Can set up internet banking
- It is also advisable to set up your basic bank account before your IVA has been accepted.
You may also find that some banks will charge you fees for their banking facilities.
Getting in touch with an insolvency expert for free debt advice is as easy as picking up the phone. Call the Re10 Debt Advice Helpline on free phone 0800 169 1536