Frozen bank

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
User avatar
michelle701
Posts: 1
Joined: Thu May 18, 2017 1:00 pm
by michelle701 » Thu May 18, 2017 1:00 pm
How do I deal with frozen bank account? Please advice.
User avatar
kallis3
Forum Expert
Posts: 71178
Joined: Mon Mar 17, 2008 4:02 pm
by kallis3 » Thu May 18, 2017 1:02 pm
Hi,

Which bank is it and why has it been frozen? Are you in an IVA?
User avatar
Foggy
Forum Expert
Posts: 22401
Joined: Fri Dec 17, 2010 11:14 am
by Foggy » Thu May 18, 2017 3:00 pm
It should only be frozen if you are bankrupt ( though some banks -- who ought to know --- don't seem to know the difference). Ask the bank why they have frozen the account -- if it is due to the IVA tell tem they are acting outside of the insolvency regualtions and they have no reason to freeze the account and should release the funds immediately. If they say they are closing the account due to the IVA ( which is within their rights) then they still cannot simply freeze it -- they have to give you due notice to allow you to transfer funds.
User avatar
Lisa Thomas
Industry Expert
Posts: 5547
Joined: Wed Dec 03, 2014 10:26 am
by Lisa Thomas » Thu May 18, 2017 3:35 pm
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 6 guests