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

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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?


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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.


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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


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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.


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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
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