Skippy, I am surprise you have not jumped on this one...???

This thread is geting tiressome now, look at that other post about BR and basic bank account by TFC....thats even more mind numbing

OK, so Co-op comes out as good guys the rest treat BR as 'criminals'

Would have guessed? Am I surprised NO...as I said in another Post Banks hate giving people who are insolvent Bank accounts..

Soon been on an IVA or DMP will be lumbered with being BR....if not already???

Still Co-op comes out OK!

Basic bank account was introduced after the FSA enforced it in 2001 to force banks to provide it.The FSA said everyone should have an account irrespective of how credit worthy they are.[right on] Banks were not willing to provide it till then as the service makes no money...period. TFC, Banks realy ...

I can emphasis with this TFC, it happened to me 2 years ago, I went into the Co-operative and applied at the branch showed my passport and driving licence. Guess what as it happened to your friend....got rejected...and never got rejected for 3 other basic accounts even from halifax and Natwest my cr...

I think only a Final settlement truely settles an IVA early. As the surplus allowed to be kept is minimal, put it into a savings account and earn interest.

Good point Andy man, shares can increase in their market price and are in essense asset wealth and dividends are paid to the holder...so in 5 years you could recieve ten dividend payments...its income and taxable....50% uplift means half goes to Ips. No buts about it. [I don't call myself Bankbonus ...

Only IPs can authorise the increase in iva payment, and just because you have a surplus above your expenditure the extra is often not added into the IVA. I had a surplus[thank you] and was never approached with any incentives in paying that in to complete the IVA earlier. IVA payment obligations are...

I suggest you put the money in a 5 yr long term savings account at 5% AER. If your are determined to play this share dealing game, your profits[as said] some will end up with creditors...what is the point???

£600 monthly net pay increase I assume is is a big increase, sorry but unless your expenditure also goes up to £450 the creditors will take it all.

I had a recent 2nd review and not going into details,I judged that IPs will only allow a minimum of surplus...maybe be £150...an estimate.

Skippy,an IVA is a debt from been insolvent,but having a mortgage or unsecured loan isn't been necessary insolvent. So you know what I will say here, its fine to inherite the £££ to pay off the house and unsecure loan....thats productive.There is somethimg to show for it..YOUR HOUSE PAID OFF. But no...

As I am in an IVA, I become a covert in using money to be productive, contribute to others. I would have a heavy heart in accepting any money to pay for a FF settlement if I think the person giving it DOESN'T KNOW its for a debt payment It isn't me lying but been duplicit. But thats me and everyone ...

you beat me to the answer TFC...(see above)that is what I would have said in response.People confuse paying off debt with ONLY a lotto win, I am talking about using inheritance. Not the same I am afriad. Again, If I was giving money away I also want to see it been prductively used. IVAs are better t...

Its best not to have or inherit anything in an IVA.....until its finished. You will be looking at paying creditors near at 100% of your debt?

I just applied for the account to them on the phone, got the ID cleared and will wait for a letter for other ID checks. The VD card is useful.

The phone operator say there are alot of these IVA applications for this account.