IVA & saving.

FavDaughter1

Hi, we did a Full & Final IVA in 2011 with help from my parents( still repaying them it's been hard going at times).

I've been given a little bit of cash for Christmas - Mum & Dad again!
I want to save a bit of it. has anyone been in or finished a IVA & managed to open a saving account with Virgin? they've got a good intrest rate, i'd like to earn as much as possible- don't want to apply & be turned down, we've just cleaned our credit files up.
thanks

UpToMyNeckInIt

...I understood that, whilst you will no longer appear on the insolvency register, your credit files are messed up for 6 Years from the start of the IVA plan. This can still hinder you from opening bank accounts I guess. (I had a heck of a job just getting a basic account, but I am still in my IVA).

Still, it's not like you are applying for credit, so give it a whirl. (Make sure you save with a non-creditor institution - I think Virgin is 'linked' with Santander and MBNA for example).

With even the very best savings accounts only offering 0.5-2.5% if you are lucky, I wouldn't be too worried though.