Trust funds with hsbc

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Kate.k8

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Post by Kate.k8 » Thu Jul 21, 2011 1:05 pm
Hi all just a quick question before we start with an iva. My childrens trust funds are currently with hsbc. We have a cc with hsbc we are going to have to include in our iva.
Will hsbc take our childrens trust fund money or cancel there trust fund with them? Will I have to move the trust funds to another provider?[:(]
 
 

kallis3

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Post by kallis3 » Thu Jul 21, 2011 4:27 pm
Which name are the accounts in? If they're in yours then I would move them just incase.
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
 
 

Kate.k8

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Post by Kate.k8 » Thu Jul 21, 2011 5:43 pm
they are in my childrens names and im the care of adresee
 
 

kallis3

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Post by kallis3 » Thu Jul 21, 2011 5:57 pm
You may be ok - mention it to your prospective IP just to make sure.
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
 
 

MelanieGiles

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Post by MelanieGiles » Thu Jul 21, 2011 11:11 pm
Those funds are held in trust and therefore cannot be taken by the bank to clear a debt in your name.
Regards, Melanie Giles, Insolvency Practitioner
 
 

kazzafunk

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Post by kazzafunk » Fri Jul 22, 2011 5:15 pm
Good news from Mel there Kate!
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
 
 

Kate.k8

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Post by Kate.k8 » Fri Jul 22, 2011 5:33 pm
yes that is good news! At least my children wont lose out!
 
 

kallis3

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Post by kallis3 » Fri Jul 22, 2011 5:54 pm
Great news Kate.
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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