Iva question and which bank to choose

manue1970

Hi
I have been in debt for 15 years and can no longer makepayment so I have decided to do an IVA. I
am with NATWEST at the moment andmost of my debt*mortgage are with them and I understand that I need to close my accountwith them in order to do an IVA. It is fine but the problem is that my accountis link to my Husband business account (so that I can do transfer on his behalf) and he does not know about my debt and Ido not want him to found out as he is completely against credit ect and willkill me if he found out. My question is would NatWest touch his business accountin order to recover the money and do you know a bank that would take me. The 1stone I went for online is First Direct and it says that they do not accept peoplewho did an IVA in the past 6 years or are about to do one? Thanks very much xxx

IF

Hi manue1970 I would post your question on the IVA & DRO Board too, you will get more help and support there.

IVA & DRO Board - Click here

EDIT: Just seen you have posted on the IVA & DRO board, I would contact a free debt charity as LTP has said in their post below.


* Blue text on this forum usually signifies hyperlinks, click on the blue links below *


Main recommended sources of help:

• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)
• StepChange (formerly CCCS) - Website: StepChange Telephone: 0800 138 1111

Others:

• Debt Advice Foundation
  
• Christians Against Poverty
• Business Debtline
  
• PayPlan
• TaxAid - Help with tax debts.
• Debt Support Trust
  

Best wishes
IF

longtermplanner

If you can no longer make payments to your debts, do you mean an IVA? Because that requires you to make payments for 5 years.

It will also not be possible for you to get an IVA without your husband knowing if you have joint accounts or a joint mortgage.

Have you taken some advice about your situation? It sounds to me as though you need to talk it through with a good debt advisor such as StepChange or National Debtline - these are charities and you will get a sympathetic listener and useful advice about what all your different options might be from them.

manue1970

Hi,

I meant to say that I cannot pay off my debt which are at moment £1000/month so I have decided to take a IVA which will redude my payment to £300/month.
I do not have a joint account or joint mortgage with my husband. everything is on my name apart of his Business account which I am a signatory but I do not have a bank card for his business.

Thanks for all your reply

Emmanuelle