Get expert opinion. This is the place for new questions to be posted.
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danp100
- Posts: 21
- Joined: Sun Dec 01, 2013 6:24 pm
- Location:
Hi
There is a new savings account coming out to help first time buyers, where you effectively get 25% interest. I am just wondering if this is something I would be allowed to get considering I'm in an iva. By the time these accounts come out I will have about a year left. Thanks for the advice
Dan
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kazzafunk
- Posts: 4749
- Joined: Sat Mar 19, 2011 6:47 pm
- Location: United Kingdom
Not sure - I haven't seen much information about the scheme rules yet.
Keep googling it and you may find the details in the terms and conditions.
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danp100
- Posts: 21
- Joined: Sun Dec 01, 2013 6:24 pm
- Location:
Yer your right I think it's still early days and the scheme is being worked on.
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lifenoteasy
- Posts: 3248
- Joined: Thu Feb 05, 2015 2:26 pm
- Location: United Kingdom
Be very careful especially if the amount that is saved starts a generating a "significant" amount of interest.
The interest itself forms part of the income stream for the IVA plus one particular company may regard the money saved as an additional asset to be given to creditors.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
