You can have a savings account but will only really be able to save from your allowances and your share of any bonuses or overtime. You probably won't have to produce a statement.
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
A modest savings account is a good idea and can, as Kallis says, be used for those allowances that need to be saved each month for that rainy day as well as your shares of overtime and bonus payments. You would be expected to save only a modest amount and the IP probably would pay no heed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As has been said, a modest savings account isn't a bad idea for a rainy day etc.
Nothing to stop you sticking a few quid under a mattress though
Hi! I used to work for one of the UK's biggest Insolvency Practitioners - I don't work for an IP anymore but still have an extensive knowledge of the IVA industry. How can I help?
