Should i close account

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john.jk

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Post by john.jk » Sun Jun 22, 2008 5:36 pm
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Currently applying for an IVA,soon to be put forward to the creditors !!
I have a current account with natwest with nothing due them dircectly
but RBS and TESCO credit cards are part of my iva as these two creditors are part of the natwest group should i get the money out of this account or will lose it if left in the account ??
Thanks...
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kallis3

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Post by kallis3 » Sun Jun 22, 2008 5:40 pm
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Hi John,

If you haven't already done so, you need to get a new bank account which has nothing at all to do with any of your creditors.

Until your IVA has been agreed, they can take money out of your account to offset against your debts. Halifax did that with me and a savings account.

I would change as soon as I can.
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
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MelanieGiles

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Post by MelanieGiles » Sun Jun 22, 2008 5:45 pm
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I think that you will be fine to keep the Nat West account, but probably best to check with them first just to be sure.
Regards, Melanie Giles, Insolvency Practitioner
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