Why do I have to provide proof of situation when repaying my friends IVA?

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Post by ann728 » Wed Oct 06, 2021 4:45 pm
I have offered to pay a friends IVA off but I’m a bit put out by the letter I received from Stepchange asking me to send bank statements , proof of savings and ID checks . Why is this so necessary ?


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Post by kallis3 » Wed Oct 06, 2021 5:06 pm
This is so they know the money is there and also to check for money laundering. It is standard procedure.
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Post by Foggy » Wed Oct 06, 2021 6:04 pm
Money laundering regulations require these checks when a large sum of money changes hands from third party accounts or cash.
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IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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