I entered into an IVA in December 2016 with CREDITFIX all was going well till today when Nat West froze and closed my account I only have this bank account and it is where my wages and tax credits go in apparently I can't have an account with Nat West of any sort so now o have to find a new bank is this legal?
Agree with Foggy - open a new account asap and get your money paid across to them.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I'm with santander and luckily have never had a problem. Do you have debts with Nat west? I was with them before I started my iva but owed them money so I changed banks just before my via started.
Natwest have been getting a bit funny just lately. Give HSBC and First Direct a wide berth as well. They aren't known for being IVA friendly.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If there are no debts to the RBS group then there is no reason for the account to be closed. If there are debts to RBS then the IVA should not have proceeded until you had a new account and your wages were safe. Can you say whether or not you owe RBS?
It doesn't seem to make a difference these days Michael - HSBC and First Direct have been well known to trawl the insolvency register and close accounts of customers who have no debts with them - perhaps Natwest are the same.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thing is, Kallis, if there are debts to the RBS group it hasn't been unknown for them to try to retain funds to offset the debt --- which, of course, they are not supposed
to do with an IVA in place -- although they might think it worth a try in case the debtor doesn't challenge them and they get away with it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
All applicants for an IVA should be told to take out a new bank account which is not associated with any creditors - usually Co-op are ok and also Barclays.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I am surprised creditfix didn't advice you at the beginning to open a new bank account. They did with me and one or two weeks after Iva been approved Natwest has frozen my account also
Yes, it is.
At Think Debt we recommend to our clients before they start an IVA to switch banks if they are included into the IVA.
The reason we do this is because if you owe your bank money, they have the right to take any money that's put into that account.
tina415 wrote:I entered into an IVA in December 2016 with CREDITFIX all was going well till today when Nat West froze and closed my account I only have this bank account and it is where my wages and tax credits go in apparently I can't have an account with Nat West of any sort so now o have to find a new bank is this legal?
