www.iva.co.uk

Hi, I may be worrying about nothing here, but my husband and I are on IVAs and we both have Cahoot as creditors. As you know, these are owned by Abbey. I've been hearing on the news today about Santander, who own Abbey, taking over Alliance & Leicester. We have our current account with Alliance & Leicester and are worried that this may mean that Cahoot could now take money from our account. Should we change banks?

Hey jc4, I believe once you are in an IVA they can not take money out of your account but I'm not really sure what will happen with this takeover, I'm sure the experts will know and will advise you shortly. X

This is unlikely to affect existing customers, but you should check with your bank in a few days to set your mind at rest.