www.iva.co.uk

Hi,
just trying to find out as much info as poss.
My kids have savings which they have accummalated over the years and i wondered if they would be taken into account in either iva or BR. This is really relevant to us because they have been saving for uni. Also me and hubby have about 6K in a fixed isa. Should we take it out early and offer the creditors equal amounts from it. Unfortunately it only covers about 5% of what we owe! But if we go down the BR route would it look better having tried to do something with it or should it be left for the o r to deal with?
Sorry for all the questions!!

I think you should leave it where it is and mention it on your statement of affairs, the OR will deal with it and I'm sure you could use some of it to fund your BR fees if needed. As for your kids savings, I'm sure I've read here that they would be safe but better wait for a technical expert to help you with that. X

thanks Viki i just really dont want the kids to lose all thier money. they have saved xmas/birthday money and both got part time jobs as well as college.

Oh I thought you meant little kids, if it is their own accounts then I can't see anyone taking any money off them.

sorry should have said ages. they are 19 and 17.

They are independant from you, that is their own money so they won't have it taken off them. If you had put large amounts in their accounts then that may cause problems but please wait for Melanie or Andy to advise you. Good luck for your BR. X

Many thanks Viki for your help. Just trying to get my brain in gear, its very confusing especially when your stressed to begin with!

I can understand, please remember that we're all here for you. Keep posting for support and advice. X

Great advice from Viki - your childrens' money ought to be safe.