Quick (But urgent!) IVA question!

jamie00353

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

Xbigman

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.



X

jamie00353

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

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