We had our F+F accepted and have now come off the dreaded Insolvency Register, however after looking at sorting other things like life insurance out and finding I am better off putting my money in an ISA. Imagine my surprise when having approached my bank to open one I was told NO. The reason been that when in an IVA you are not expected to save any money and are therfore not allowed some savings accounts.
I was stunned and somewaht amused in an ironic sense. The bank have put forward an appeal and we will know in about a week if I can have the ISA account.
I've not got an ISA but do.have an e savings account attached to my bank account and had no problem with that.
It is stupid though that now you're out of your IVA you're being denied the opportunity to put some savings behind you.
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
janderson - you have ask you self do your really want an account with your bank if they are going to behave like that!!.
Why not do a general search (ie moneysupermarket) you may find you can bet a better deal elswehere anyway.
I've got an ISA from pre IVA days and fully intend on using it again. I agree with Jan, shop around and find someone who is willing to let you save your own money - lol!
Thanks for the replies, I am with the Co-Op and have had no problems with the basic bank account. I am going to have an internet search today and see what is out there.
