My brother has just had an iva implemented and a bank account hadnt frozen until he tried to transfer money through it to another account to pay out some debt, to myself, a plumber and for a hire purchase agreement. The bank account have frozen this account with the money he sent into it. Can he get this money back? He transferred it into his wife's account who is also in the iva. Any advice is much appreciated. Thank you.
Why did they freeze the account ? Have they told you ? Sometimes it is because they have mistakenly treated the IVA the same as bankruptcy. Sometimes they will close the account, but the funds should be returned.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk
Which bank is it? HSBC and First Direct are well known for freezing accounts. Did you open a new bank account when you went for the IVA?
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