www.iva.co.uk

Did I read on one thread (can't find it) that once your IVA has been approved - any money in or put into a bank account cannot be 'pinched' by that bank even though they are a creditor in the IVA. STill have account with Lloyds (small credit balance) and still have the cheque book which we may wish to use when sending money to children/friends etc thro the post - is it safe to put money into the account to cover the cheques??............THanks.........Bob

Are Lloyds one of your creditors? If they are I would take all available money from the account and place it into the new account.Lloyds kept reclaiming money from my current account for my overspend on my credit card they did it several times over a short period as if it was if they waited for money to go into my account then pounce,making life to the next pay day rather difficult

You should really change your bank account to one with a non-creditor bank.

The simple answer is to open a new account at a bank you have no debts with.

If you decide to pay money into an account that is one of your creditors then they have every right to freeze your money in that account and use it towards reducing your debt to them.

Regards BP

oh definately open a new account, you need to keep your money safe. I opened a Flexi account with Nationwide. It's a cash card account so you have to get used to getting cash out for supermarket shop and petrol etc, as there's no debit card facitly to begin with but this can be reviewed at a later date if you manage your account well, and drawing cash out helps to monitor spending. The account lets you do internet banking so you can check balances and have standing orders and DDs. The people in the branch and in the call centre have been friendly and helpful.

For your everyday stuff, I would change. We have a nationwide account.

However, we still have a full Barclays account (Bsrclaycard were one of my creditors), they have never closed it and we have a small amount of money in it.

I intend keeping this open so that when my IVA finishes, I have a full bank account.

I won't be putting a lot in there though!