Review

[dannyB]

Hey,

I have a review coming up, I have managed to save up just over £1.5K for car insurance, tax, TV license etc etc, the time of my review will show this amount in my bank account, not as savings, I just dont let myself go under the £1.5K mark untill all the above are due.
Will they look at taking this off me and paying it into my IVA?

Any advice would be a great help as with my current payments life is normal again and I really dont want too much change.

Thanks

[dannyB]

I am worried sick, I cant wait to end this IVA!!!

I am not too bothered about the interest, I just like to know I have the money there ready to pay the big bills when they come in!

Just I have all my finances sorted now and know exactly how much I have to spend on food etc with my current payment plan, then can throw this completley with the reviews!!!
Didnt sleep a wink last night thinking about it!!!

Hope I am safe though, thanks for your response.

[ginger3232]

sorry daniel for dome reason my reply was deleted - duh !!!

Honestly have a look at Yorkshire building society - they have an interest rate of about 3% - doesnt sound much but just think of it as a night in a pub, paid for

[dannyB]

.....well when you put it like that!!!!!

I may well do that, alternatively I will just get my better half to set one up and transfer it to hers, saves the hassle of discussing the dreaded IVA.

Thank you

[footiemad]

They won't take your savings from you in a review. You are encouraged to save from your allowances if you can. Annual amounts have to be saved each month so please don't worry you are doing nothing wrong For the record I also have that amount put aside for heating oil, car tax, MOT etc - its normal x

[Shining]

Very sensible approach to controlling the budget. Worth putting over to a savings account though some banks (I have Natwest e-saver) are supportive to us in an IVA. x

[dannyB]

Thanks for your response all, I think I will sleep a little easier tonight now.
Might even treat myself to bottle of wine!

This site is great!!

[Shining]

Glad you're enjoying the site, do keep posting!

[dannyB]

I have sorted out an e-savings account with Natwest now.
Sorting out a visit to arrange a basic account too, I am currently with Secure Trust as advised when I set up my IVA, anyone have any kind of experience with Secure Trust?
I really dont like their set up! 50p to withdraw my money, £12.50 for the joys of using them a month and the card gets treated like a credit card most places!!

[Michael Peoples]

If you have no luck with NatWest contact the CoOp and apply for a cashminder account. It is free and offers online banking with a visa debit card.

[Pennyless]

Danny I would agree with others.....your using a sensible approach to paying your bills on a yearly basis. I pay mine monthly which is becoming more difficult as the years go by as some insurance companies, mobile phone providers etc will not even entertain monthly payment plans if your in an IVA.

[luluj]

Hope you get a basic account opened soon - paying £12.50 a month, and 50p to with draw your own money is not fair.

Sensible approach to your saving and well done on you on being able to keep that level going - proves that the IVA has worked to a certain extent - bet before your IVA you had no money saved for anything if like most of us you were living hand to mouth, and robbing peter to pay paul etc.

[dannyB]

Hey Liz, Yeah before the IVA it was awful, just felt I was stuck with no where to go other than bankruptcy, but it has helped massively.