Sharesave

4 posts Page 1 of 1
Post Reply
 
 

Purple Butterfly

User avatar
Posts: 35
Joined: Thu Sep 22, 2011 8:30 pm
Location:
Post by Purple Butterfly » Thu Feb 14, 2013 10:35 pm
Quote
We have decided that we are going to save a small amount each month in a company sharesave. The money is deducted each month from the salary, but I am wondering whether we should as the scheme is administered by a bank who are one of our creditors, so they may take any money we pay into the scheme. Any advice please.....
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Thu Feb 14, 2013 10:46 pm
Quote
How will you afford these savings if you are in an IVA Purple Butterfly? Is this intended from savings you make to your usual allowances?

The bank cannot grab the monies - so you are safe on that particular area.
Regards, Melanie Giles, Insolvency Practitioner
Top
 
 

Purple Butterfly

User avatar
Posts: 35
Joined: Thu Sep 22, 2011 8:30 pm
Location:
Post by Purple Butterfly » Thu Feb 14, 2013 11:00 pm
Quote
Hi Mel, we were only looking at £20 per month over 3 or 5 years and would be from saving we make from our usual allowance. We need to get some money saved towards a car as ours is going to need to be replaced. Good to hear our money will be safe, and thank you for your advice. :)
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Thu Feb 14, 2013 11:09 pm
Quote
I can see no problem in you making a modest saving or the amount you have confirmed, and the growth on shares may well exceed current bank interest rates - so good luck with all of that.
Regards, Melanie Giles, Insolvency Practitioner
Top
Post Reply
4 posts Page 1 of 1
Return to “full and final settlements”