www.iva.co.uk

Hi all, I’ve recently had an IVA approved so I’m new to it. I have a savings account that has a weekly direct debit going in to it that is in a separate bank to my current account that my IVA payments come out of. What I’m wondering is does the IP check the comings and goings in my savings account as well as the current account? Thanks in advance for any help

They don't specifically check savings accounts, ( but could if they felt so minded) but will see the DD going out regularly and might question it.

Ah ok, thanks Foggy. They would already know about the DD going out to it as it’s not a new DD so they would already have seen it. Or I at least imagine they should have anyway!

I'd be careful not to save up "too much", as it may look like you have excess spare cash floating about.

Savings should be encouraged during an IVA because the chances of going 5 years plus without some some of disaster(appliance breakdown etc), is practically nil!!

Good luck with your iva journey.

Paul

Thanks Paul