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Posted: Sat Sep 19, 2015 7:43 pm
by Carol.c
Are bank cards blocked in IVA ?
Posted: Sat Sep 19, 2015 8:04 pm
by Foggy
Debit cards shouldn't be as long as your particular bank is happy for you to have them. All credit cards should be surrendered.
Posted: Sat Sep 19, 2015 8:18 pm
by kallis3
Hi and welcome
I never had a problem with a debit card at all. As Foggy says, you should not have a credit card.
Posted: Sat Sep 19, 2015 8:41 pm
by lifenoteasy
It's as foggy says.
Posted: Sun Sep 20, 2015 7:22 pm
by longslog101
Slightly different to what you asked but worth being aware of re debit cards.
From what I have read some banks will stop anything in your name, even debit cards if you are listing them as a creditor, this is for example if you have e.g. £150 in your current account with debit card, and you had e.g. £5k of debt on a credit card with the same bank, as soon as you start getting into hot water with the credit card the bank can in certain circumstances grab to money in your current account and freeze everything.
When I did my IVA with McCambridge Duffy they check who you bank with to make sure there is no chance of this happening with any associated creditors who may belong to the same group before they submit the IVA paperwork .
The safest course of action is to bank with a completely separate entity to any of your creditors (and check who belong to the same group, you'd be surprised which companies are all interlinked !! I setup a coop cashminder account and a cashplus MasterCard, pre-load account and left the others I used to have as dormant with a £1 in them, just to see what happens to them.