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Posted: Sun May 15, 2011 9:43 pm
by 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?
Posted: Sun May 15, 2011 11:04 pm
by 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.
Posted: Sun May 15, 2011 11:35 pm
by 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
Posted: Mon May 16, 2011 12:08 am
by 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
Posted: Mon May 16, 2011 6:27 am
by 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
Posted: Mon May 16, 2011 6:32 am
by 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.