My OH has put money from me into his account. We were trying to save some money but didn't want a joint account so I just paid it across to him and kept a record of it.
I fail to see what the problem is here.
We are all lucky to have been accepted into an IVA, the creditors taking a large cut in what they are owed. It is the least we can all do, than to be honest and up front with our financial affairs.
If the IP deems it necessary to look at bank statements, then so beit.
If they have questions relating to amounts on the bank statments, as long as there is nothing to hide then what is the problem?
It could be worse, we could all be made to pay back all our debt, or suffer from the consequences of bankruptcy.
It does seem a bit strange that you are using your account to hold funds for another party. Why cant your partner have their own bank account, at least then there would be no issues of you holding excessive funds in you account, and nothing to hide from the IP or creditors.
Last edited by jtomo64 on Tue Dec 22, 2009 2:18 pm, edited 1 time in total.
Giving the benefit of the doubt here, maybe there's a problem with the partner getting a bank account. My OH has done it for me as I explained in my post above.
As a firm we do not request bank statements unless we require verification of increased costs for example or where a client has lost wage slips. It may be worth asking the IP firm why they want the bank statements after all this time and explain that your partner feels a little uncomfortable given that the account is used for joint living. I do not see your IP going through them expense by expense but a conversation with your case manager may put your mind at ease.
If you are in an IVA, the one bank account you have and use as the main account should not hold other peoples money.Keep it separate from other monies. Show expenditures by all means but no credits above the salary.It makes life easier at review time.If IPs see just the credits they expect then no questons.If not then lots of ??????.
If you want to hold someone else's money then you ought to open another account? Simple to do.
Technically, the money in your main account including your partners are YOURS. It's yours because you are the only person that legally entitled to access it outside a court remit. So its all your money in legal terms. I think you ought to remove it ASAP to aviod unncessary complications simply by transferring it to a new basic bank account after your review. As in doing so now will arouse suspicion
Most people with a certified Id can have a basic bank account.
No, but what I'm saying is (badly!) is that I could see how it could happen as we don't know what the partner's circumstances are - she may not be able to get an account for one reason or another.
