my wife has a cash isa at halifax which is our kids money left to them but is in my wifes name and we are about to enter into a IVA will they be able to take this money and what can i do to stop it happening
I stand to be corrected but if they are in you wife's name then they probably will need to be paid into the IVA. I had premium bonds in my name and they had to be paid into my arrangement.
I think you are right. If the money was left to them would you be able to put the account in their names?
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
Hi there. If you can prove that the money belongs to your children then you should have absolutely no problem even if the account is in your name. Do you have any records to be able to prove the money is theirs? Having said that I would recommend that the cash is kept in an account in the childrens names especially if you personally owe the Halifax (or BoS) any money.
