Does IP have access to my bank account?

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tracy
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by tracy » Wed May 31, 2017 2:36 pm
Does an IVA mean they have access to look at your bank account and see what you're doing with your money ?
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Michael Peoples
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by Michael Peoples » Wed May 31, 2017 2:48 pm
Some firms are more intrusive than others. We ask to see bank statements before the IVA is drafted as they show evidence of income and outgoings but afterwards how you spend your own money is your own business. However not all firms are the same.
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Lisa Thomas
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by Lisa Thomas » Thu Jun 01, 2017 10:09 am
No they don't automatically have access but are entitled to ask you to see your bank statements and you have a duty to cooperate.
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Foggy
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by Foggy » Sat Jun 03, 2017 4:41 pm
They do have to do a full financial review and sight of bank statements are a part of this --- however, they are not going to be looking at every penny going out, unless it is to verify things like rent, council tax etc. They are not bothered by whether to shop at Tesco or Sainsbury's. But ... £100 a month going to "Bet Fred" might be questioned.
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