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?
As Paul says, they are bound by your IVA and I think your bank account will be fine.
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
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.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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.
Susie
x
IVA Accepted 31st March 2011.
IVA Ends 31st March 2016.
It's nothing to worry about. Your debt is still covered by the IVA - it is not uncommon for debts to be sold on.
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
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.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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
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
If you were thinking of changing banks then I would look at the Co-op for a different account and they are IVA sympathetic.
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
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.
Last edited by jackpat on Thu May 26, 2011 10:09 pm, edited 1 time in total.
have too many to deal with ..
