Becoming third party on a bank account ?

[xxxxx30]

Hi, I was wondering if anyone knew were I stand on becoming a third party on someone else's bank account. A family member is going travelling for over 12 months and they've asked me to go on their account so I'll be able to keep an eye on things whilst they're out of the country. I'm worried that if I do so my IP will class this as my money as I will be able to access it. Can anyone help?

[kazzafunk]

If there's an agreement signed that clearly states it's not your money I can't see a problem but I would run it past your IP to make sure.

[Broke of London]

Totally agree with Kazza. This won't be treated as your money but do check the rules on acting as a third party with your IP to be on the safe side. xx

[plasticdaft]

Given that its not your money this shouldnt affect your iva but disclose whats going on to your ip to save any confusion later on.

Paul

[xxxxx30]

Thanks eveyone. Your answers have made me feel a lot better. I think I'm only going to be paying in the odd cheque & paying some bills for them. I'm going to discuss with my IP though. Thanks again

[kallis3]

I think you'll be fine as well but at least if you run past your IP you'll be 100% and able to relax.