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 Leeds Debt Advice Helpline on free phone 0800 169 1536
If you would like to speak to one of our Leeds Money Advisers directly please call 0113 237 9503 or call to book a face to face meeting with an advisor or enter your telephone number and contact details in the box below and we will call you back as soon as possible.