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Can we have a logbox account whilst in an IVA?

Posted: Mon Feb 24, 2020 8:09 am
by Rlh1994
Is it worth my husband and I opening a loqbox account whilst still in our IVA? Is that even allowed?
The minimum you're allowed to put in there a month is £20, then you get it all back at the end of the 12 months.
I'm not sure it would even make a difference to our credit scores with the IVA ongoing, but figured £20 a month would be manageable to help in the long run.
Thanks in advance

Re: <t>Can we have a logbox account whilst in an IVA?</t>

Posted: Mon Feb 24, 2020 11:34 am
by Marty171
i asked my iva company vanguard if this was allowed and they said not while you're in the IVA as its classed as an asset and could then be payable to the IVA

Re: <t>Can we have a logbox account whilst in an IVA?</t>

Posted: Mon Feb 24, 2020 12:57 pm
by Foggy
Allowed or not, it is a waste of time --- while the IVA is on file your credit rating is dust !