If you have entered into an IVA, you might find it hard to apply for certain financial products, including bank accounts.
It is still possible to get a banking service – check out our list of bank accounts for people with bad credit here.
Companies like thinkmoney, cardonebanking, eccount money and more all specialise in providing bank accounts for people that would usually be turned down elsewhere.
If you are in an IVA, it is important to manage your money as efficiently as possible, and using a bad credit bank account provider with good money management systems can help.
Often your bills and debts will be paid automatically, and you will then be able to spend the money you have left in your account.
To find out more speak to a professional money adviser.