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Posted: Wed May 25, 2011 11:37 pm
by crazymoo
I have already entered into an IVA which is due to end this year. I have received an e-mai from one of the creditors which arept of my IVA to say they are no longer dealin hcredit cards and theyhave passed my account onto Barclays. I am concerned now tha they will not be includedin the IVA or will my account be taken over exactly as the IVA terms? Also a further reason for my concern is that I transfered all of my banking over to Barclays when I set up my IVA so I am worried that they will be able to freeze my accounts. Can you please advise?
Posted: Thu May 26, 2011 12:48 am
by plasticdaft
You egg debt has been passed to barclays who are bound by the terms of your iva.
Paul
Posted: Thu May 26, 2011 6:25 am
by kallis3
Hi,
As Paul says, they are bound by your IVA and I think your bank account will be fine.
Posted: Thu May 26, 2011 10:32 am
by Foggy
Hi. They won't feeze your account. At worst they will give you notice to close, in which case you open a co-op account, or the like. At best they will leave you well alone.
Posted: Thu May 26, 2011 11:05 am
by susieq73
I got the same email yesterday from Egg, but i just assumed it is transferred to Barclay's and they then are bound by the IVA so nothing really changes.
Posted: Thu May 26, 2011 11:18 am
by maya
hi
i got the same email, & i guessed this was covered off by the IVA.
Really don't want more problems ..
have too many to deal with ..
Maya
Posted: Thu May 26, 2011 12:15 pm
by kallis3
It's nothing to worry about. Your debt is still covered by the IVA - it is not uncommon for debts to be sold on.
Posted: Thu May 26, 2011 12:18 pm
by Foggy
This is just one of the areas in which IVA triumphs over DMP's, in that the companies who buy debts are still bound by the IVA. In a DMP the new "debt owner" can always renege on any agreement.
Posted: Thu May 26, 2011 7:44 pm
by susey
i also recived anemail from egg but what i worried about is that im iva settled in march and they have sent this to barclays as there is still a balance on which should of been wrote of will barclays chase me for this as it was all cover in my iva
Posted: Thu May 26, 2011 9:40 pm
by jackpat
We are in exactly this position too. We moved to Barclays as our "safe" bank just before we started the IVA, all our DDs etc are set up from this accout and we're really happy with it. The news that Egg have sold out to Barclays has really worried us. I'm getting confusing advice too - Basically that Barclays shouldnt touch our accounts or freeze them- but they might so we should move it again. Can they definitely not touch us? I'd really appreciate confirmation on this.
Thanks Guys
Posted: Thu May 26, 2011 9:46 pm
by kallis3
Once you are in an IVA then you should be ok.
If you were thinking of changing banks then I would look at the Co-op for a different account and they are IVA sympathetic.
Posted: Thu May 26, 2011 10:09 pm
by jackpat
kallis3 wrote:
Once you are in an IVA then you should be ok.
If you were thinking of changing banks then I would look at the Co-op for a different account and they are IVA sympathetic.
Thanks for that. I really dont want to move it again unless we have to. So if they legally cant touch the accounts I'll be happy. Trying to get a straight answer today has been a nightmare.