Can you keep your business account when in iva

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Ted2012

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Post by Ted2012 » Tue May 15, 2012 7:22 pm
Hello everyone,
My husband and I are about to enter into an IVA. I posted in new questions and have just found this group. My questions are

1. will my husband be able to keep his santander business bank account? We have a personal account with santander and he has a loan with them and credit cards with mbna (these will go into IVA). We dont have an overdraft and dont owe anything through the bank acc. We have tried moving to coop but have been turned down.

2. Are santander likely to ofset from his business account? Is off setting automatic ie as SOON as the money goes in it goes out.

Any advice would be great
Thanks TD
 
 

Shining

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Post by Shining » Tue May 15, 2012 8:01 pm
http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=44955

Think this has been answered on the thread above. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Ted2012

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Post by Ted2012 » Tue May 15, 2012 9:29 pm
Thanks but all i want to know is will they clse his business accounts?
TD
 
 

kazzafunk

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Post by kazzafunk » Tue May 15, 2012 10:03 pm
I think you need professional advice on this one.

I would have thought if you have other debts with them, Santander may well close the business account - your IP is the best person to advise on this.

It may be best to try to get another business account before the IVA is approved.
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
 
 

Michael Peoples

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Post by Michael Peoples » Wed May 16, 2012 9:36 am
If your husband's business is limited there is no connection and the account should be fine. If he is a sole trader he should move his business account as well as the personal one.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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