Can you keep your business account when in iva

[Ted2012]

Hello everyone,
My husband and I are about to enter into an IVA. I posted in new questions and have just found this group. My questions are

1. will my husband be able to keep his santander business bank account? We have a personal account with santander and he has a loan with them and credit cards with mbna (these will go into IVA). We dont have an overdraft and dont owe anything through the bank acc. We have tried moving to coop but have been turned down.

2. Are santander likely to ofset from his business account? Is off setting automatic ie as SOON as the money goes in it goes out.

Any advice would be great
Thanks TD

[Shining]

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=44955

Think this has been answered on the thread above. x

[Ted2012]

Thanks but all i want to know is will they clse his business accounts?
TD

[kazzafunk]

I think you need professional advice on this one.

I would have thought if you have other debts with them, Santander may well close the business account - your IP is the best person to advise on this.

It may be best to try to get another business account before the IVA is approved.

[Michael Peoples]

If your husband's business is limited there is no connection and the account should be fine. If he is a sole trader he should move his business account as well as the personal one.