if i go iva can i keep my savings

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denise_

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Post by denise_ » Fri Jul 06, 2007 11:52 pm
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if i go iva can i keep my savings
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MelanieGiles

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Post by MelanieGiles » Fri Jul 06, 2007 11:55 pm
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Hi Denise and welcome to the forum

I am afraid that your savings would be treated as an asset, and you would have to hand them over to the Supervisor upon acceptance of your IVA. Why do you have debts and savings at the same time? The interest you are paying on your debts is far more that you are earning on your savings!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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iva_squirrel

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Post by iva_squirrel » Sat Jul 07, 2007 8:09 am
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Hello Denise,

In an IVA it is possible to exclude assets from your IVA but you will be required to inform your insolvency practitioner of any savings, stocks, shares and other investments you may hold.


Regards,




Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm
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