Quick (But urgent!) IVA question!

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Hi, I need help with a quick IVA question please

My creditors meeting is tomorrow, and one of my creditors is the CC Mint. Owned I believe by the Bank of Scotland

I have some money in a Lloyds bank account at a branch.

Can anyone advise if my money is at risk at a Lloyds branch, once the IVA passes?

It was never raised as a concern before, as I don't think they are connected.

Can anyone help?

Thanks

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  • Xbigman
    Xbigman Posts: 3,887 Forumite
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    Quick answer is yes it is in danger. Bank of Scotland (not ROYAL bank of Scotland) is owned by Lloyds so in theory they could use the right of set off to take some of it.
    Its much more complicated than that but I'd err on the side of safety and get it out if you can.



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  • jamie00353
    jamie00353 Posts: 27 Forumite
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    Thanks!

    Another question if I may? Am I right in saying the Co Operative is not connected to anyone?

    They are my new current account home, so I wanted to make sure there would be no danger there

    Thanks BigMan for your help!
  • milliemonster
    milliemonster Posts: 3,708 Forumite
    I've been Money Tipped! Chutzpah Haggler
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    Well I have been in my IVA for 2 years and we have a Mint CC listed as one of the debts and a current and savings account with Lloyds, they haven't touched any of our money at all
    Aug GC £63.23/£200, Total Savings £0
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