i am 20 months into an iva with payplan , my 2 children have 1 account each which is with my bank , they have a few hundred each in them which i have put in a few pounds a month out of my housekeeping (when i could ) , will the company take that money , they have never requested bank statements , can they just start doing it now , i have never missed a payment and have just done a new i&e review , am so worried , i am making myself so ill by it , my grandparents have an account for my children , would it be worth shutting the accounts down and putting the money in with those accounts . Also can anyone tell me if payplan usually ask for bank statements ?
As far as I understand, if you skrimp and save out of your agreed allowances in order to save a small contingency fund then there's usually no problem.
Different IPs require different documents at review time so it's difficult to answer that particular question. In any case, I'm unsure they'd start asking to see your children's bank statements out of the blue...
Last edited by komakino on Fri Nov 18, 2011 12:53 pm, edited 1 time in total.
Your children's money is their money, do not make yourself ill through worry. If you're cutting back to put a few pounds in as and when that's your choice. Did you disclose the money to your IP at the start of the IVA? I've no idea whether you should have done or not but cannot imagine they can touch your children's money. One of our experts will be along with some excellent advice soon. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Your childrens money is theirs and will not be touched.
Payplan do not ask for bank statements.
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
thank you everyone , also my husband has always said he has debts to pay every month ,this is listed in expenditure under partners debts , how ever he has just confirmed that he has had a dmp for nearly 6 years , something he arranged when we split up briefly in early 2006 , should i tell my iva company this? , will i go to prison ?
I dont kno the answer to that question,but please dont worry. Im sure you will not go to prison. Its not your fault your husband never told you, but at least he is doing something for his debt too. Maybe you can now work together with it. Im sure an expert will get to you with the answer as soon as they can. Please dont worry.
You will not go to prison - please don't worry about that.
Please speak to your IP company and discuss this with them.
Your husband will be liable for his own debts, and you for yours.
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
we had several accounts for different things and they only ever asked for one account ,the one which we got paid into .dont worry you children are allowed there own bank accounts .all the best
