no..I very much doubt they do. Some banks have rules regarding ongoing account activity and in the past banks like HSBC and First Direct have closed accounts to those in IVA'S.
If it were me I would have a basic bank account set up as a precaution with someone like the co-operative to fall back on should you get challenged in any way
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Sorry i meant like natwest was the bank that gave me a loan last year jan 2019 for 20k.
This year june 2020 i am applying for iva will they check how the loan was spent once they recieve my iva proposal
What the banks do is very much up to each bank. However, with the current pandemic taking up much of their resources, I expect trawling bank accounts to see what you are spending on is unlikely to be a priority.
The IVA becomes legally binding if and when it is accepted by creditors at the initial creditors meeting.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It all depends on what happens on the day. Each IVA is individual and we cannot say how they will vote.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
No one has said they do not accept IVA --- no one will know until the meeting.
IF the IVA is rejected then you have to find other ways to pay the debt .... maybe with a Debt Relief Order, or a Debt Management Plan, before worrying about bankruptcy.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
