My husband is starting an IVA. We have a holiday booked to Florida 2017. Are we allowed to still save for this? I also have a standing order to our sons account each month saving into his junior ISA. Can I continue to this this? All money is managed from my account.
Unless you are with Payplan, who tend to use household income, what you do with your money is of no concern to your husband's IP, other than what your share of household expenses is.
My then wife and I both had IVA's due to joint debts, but still managed to pay into our son's ISA from our allowances. We had to pay it from savings in housekeeping and the like, we were not allowed a specific allowance to save.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
Unless you are with Payplan, who tend to use household income, what you do with your money is of no concern to your husband's IP, other than what your share of household expenses is.
My then wife and I both had IVA's due to joint debts, but still managed to pay into our son's ISA from our allowances. We had to pay it from savings in housekeeping and the like, we were not allowed a specific allowance to save.
Ok thank you. My accounts are all my own. I have a savings account, my son has a junior isa and then my current acc. Our wages both will go into my account. So once our assessment and expenditure is arranged I can make savings on the expenditure and put that into the isa and savings account then. Will my credit rating be affected at all? I have no debts and pay all bills on time.
If you can save from your allowances then have a good time! If you have joint accounts then it may affect your credit rating.
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
As Kallis says, as you have joint accounts you are associated financially. This means that, when someone credit searches you they will be told that you are linked to your husband -- they may or may not then search on him. If they do they will look more closely at your application.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
