Saving money while in an IVA

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

zara

User avatar
Posts: 1
Joined: Tue Mar 06, 2018 8:40 am

Post by zara » Tue Mar 06, 2018 8:40 am
Hiya. Im in an iva. Which i done az im 28 and qant to buy my own house eventually. I juat wondered if i would be able to open up a savings account for myself and start putting spare money aside for my deposit and any emergencies. Would my iva be able to be told and would i need to tell them..

Foggy

User avatar
Forum Expert
Posts: 28145
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Mar 06, 2018 8:50 am
You can open a savings account and can make modest savings. These will be from savings on allowances and your share of any extra income, after it has been accounted for to your IP. You should not be in a position to save any significant amount and the savings account will not usually be of any interest to your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”