Posted: Mon Jul 02, 2007 11:09 pm
With an IVA, do you lose your bank account? my wages are paid directly into mine.
Hi ady
If you hold your current account with a bank to whom you also owe money, they will set-off the monies in your current account against that which you owe. To avoid this happening, it is best to set up an account with a non-creditor bank before commencing the IVA process.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk