Can Insolvency Practitioner access ISA savings that was opened after IVA begun

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Flavour79

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Post by Flavour79 » Thu Aug 15, 2019 6:01 am
Hi
Just wanted to enquire whether IP can access or request funds from ISA Account opened after begun ?

Thanks

kallis3

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Post by kallis3 » Thu Aug 15, 2019 7:58 am
You are allowed a modest amount of savings but not sure about an ISA. One of the professionals will be along later.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Lisa Thomas

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Post by Lisa Thomas » Thu Aug 15, 2019 9:04 am
It depends where the savings derived from...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Flavour79

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Post by Flavour79 » Thu Aug 15, 2019 9:23 am
My sister want to help me start saving with ISA and she is prepared to give me the initial 1200 to set up.

Foggy

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Post by Foggy » Thu Aug 15, 2019 9:30 am
I would think that there would be a danger of the IP grabbing a gift of £1200.

If you are on any qualifying benefits and good way to save at the moment is the Government's "Help to Save" account. Details here: https://www.gov.uk/get-help-savings-low-income

If you leave the money in the account for the full 4 years, depending on how long you have been in your IVA, hopefully you will be out of the IVA by then.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Flavour79

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Joined: Fri Mar 03, 2017 10:28 pm

Post by Flavour79 » Thu Aug 15, 2019 9:59 am
Thanks

Marty171

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Post by Marty171 » Thu Aug 15, 2019 7:48 pm
I asked my IP (Vanguard) If i could setup a help to buy which my mam would pay in for me £200 per month however they said im not allowed too as it would be seen as an asset and would need to be paid into the IVA.

kallis3

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Post by kallis3 » Thu Aug 15, 2019 8:33 pm
I think that is right.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

plasticdaft

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Post by plasticdaft » Sat Aug 17, 2019 12:19 pm
Modest savings or emergency kitties are one thing but substantial amounts will always be at risk!!

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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