Good afternoon, we are looking into getting an IVA. Will it effect childrens' saving accounts ?

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Patricia.r

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Post by Patricia.r » Thu Jun 30, 2016 3:04 pm
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Good afternoon, me an my partner are looking into getting a iva , I just want to know if it will affect our children's savings accounts? Thank you
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kallis3

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Post by kallis3 » Thu Jun 30, 2016 3:37 pm
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Hi and welcome,

Are the accounts in your childrens names? If so then they will be fine.
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
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Foggy

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Post by Foggy » Thu Jun 30, 2016 3:53 pm
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As Kallis says, as long as the accounts are in their names (even if you are the trustees) they should be safe ( as long as they are not mega-rich! ).

My son's savings account was with one of my creditors. Although, in theory, safe from offsetting, I still moved it to another building society.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Patricia.r

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Post by Patricia.r » Thu Jun 30, 2016 5:09 pm
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Wow !! Thank you for your responses ,
Yes they are in there names and we are the trustees and there is a few hundred In them .
Thank you again for the information #128077;#127995;
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kallis3

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Post by kallis3 » Thu Jun 30, 2016 5:11 pm
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You should have no problems then. Glad we could help.
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
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luluj

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Post by luluj » Thu Jun 30, 2016 8:36 pm
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It will be fine ...if it had been 000's you may have been asked some questions. Your childrens savings are safe.
Good luck with your iva proposal x
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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Patricia.r

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Post by Patricia.r » Thu Jun 30, 2016 8:38 pm
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Thank you guys :-)
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