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

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ann728

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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 ?

kallis3

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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.
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.
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Foggy

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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.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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