hi there my names paul, been in iva for over a year

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
 
 

paul1971

User avatar
Posts: 4
Joined: Wed Nov 19, 2008 7:28 pm

Post by paul1971 » Sat Jul 31, 2010 6:42 pm
hi there my names paul, i have been in an iva for over a year now, andy davie was very very good, and he made my wife and i very reasured in what we were doing. but my question is, my creditors, which are many, have now taken over the alliance and liester bank, thats i use at the moment, but santadare are now the owners. Im now worried that santandare will go in to my accout and possible take funds, as i owe them money, can they do that?
thanks
paul
 
 

Nicola.sa

User avatar
Posts: 130
Joined: Tue Jul 13, 2010 4:43 am

Post by Nicola.sa » Sat Jul 31, 2010 6:59 pm
The professionals will be along shortly I'm sure but I would imagine the answer is no.
 
 

Andy1964

User avatar
Posts: 1591
Joined: Thu Dec 31, 2009 12:07 pm
Location: United Kingdom

Post by Andy1964 » Sat Jul 31, 2010 7:21 pm
Why not change to a bank that has no interest in any of your creditors?
But having said that, we moved from Barclays to RBS even though one of our creditors was Mint which is part of RBS.
If we all threw our problems in a pile and saw everyone else’s, we’d grab ours back.

Funds paid to date accepted as F&F 16th August 2013, the wait for completion begins.
Wait over....certificate recieved 3rd May 2014
 
 

Julie

User avatar
Posts: 9503
Joined: Thu Feb 14, 2008 10:56 pm
Location: United Kingdom

Post by Julie » Sat Jul 31, 2010 9:22 pm
No they wouldn't be able to take any money from your account - they have entered a legal agreement to accept the agreed amount.

I'm not sure if they could close your account, so it maybe worth moving banks as Andy suggests.

Some of the professionals and other posters are meeting up tonight, but I'm sure they'll advise further tomorrow.
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Sun Aug 01, 2010 12:53 am
Your bank account will be safe, as set-off cannot happen once an IVA is in place.
Regards, Melanie Giles, Insolvency Practitioner
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”