www.iva.co.uk

My husband and i have recently seperated - which we have spoken to our IP about and we will work how we will proceed over the next few weeks when we know more clearly what each of our individual living expenses will be.
The first step is for us to have seperate bank accounts - my husband has told me that he has tried with several banks - but they keep refusing him and that they say on thier systems that he is bankrupt!
Do they not make a distinction between bankrupcy and an iva?

He is going to go the the abbey on monday - (this is where our joint account is already held - which we opened just before the iva was agreed and has been run in good order since it was 4 months ago) - i am worried that when we explain our situtation and that we want to change the joint account to two seperate accounts that they will refuse and want to close down the joint account as well!

Where will this then leave us? Any advice greatly appreciated!

My husband has been to the Abbey, which he had forms which i ahd to sign to remove him from the joint account. The lady in the branch said it wouldn't be a problem for him to set up a new account - basic one with a cash card only and he filled in the forms accordingly. He recieved a letter yesterday from Abbey stating that they now won't give him a seperate account as he is bankrupt?

Please can someone let me know why won't they make a distinction between an iva and bankrupcy? And what will his options be now - as he is now left without an account - this whole situation is very stressful, beginning to think that bankrupcy would have been the better option after all as no one else seems to make any distinction!

Please - any advise great appreciated!

I suggest your husband applies to Equifax and Experian for his credit file. (Abbey use Experian)

There is a distinction between bankrupt and IVA on the credit file that the banks / finance companies review.

The statement is normally only made if the file shows that a bankruptcy order has been made they don't make an assessment of bankrupcy based on the volume of debts etc or IVA / DM.

He should get the info within a week or so if he gets the letter and £2 off to them today.