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is my money safe in lloyds isa

vics1928
vics1928 Posts: 143 Forumite
in Debt-free wannabe
Is my money safe in lloyds isa from offsetting rules? I have a dmp in place my debts bank wise are with barclays

Comments

  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Lloyds can only offset Lloyds accounts in your own name - they cannot offset against a Barclays account.
  • Lioness_Twinkletoes
    Lioness_Twinkletoes Posts: 1,573 Forumite
    Do you not think you ought to pay your debts before getting yourself a comfy savings buffer?
  • moohound
    moohound Posts: 1,209 Forumite
    Debt-free and Proud!
    Lioness_Twinkletoes wrote: »
    Do you not think you ought to pay your debts before getting yourself a comfy savings buffer?

    It might be the emergency fund which everyone should have debts or not.
    ISA £1675 :DMiniMoohound savings £3685.86 :T Plus £3800 CTF :)
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  • Lioness_Twinkletoes
    Lioness_Twinkletoes Posts: 1,573 Forumite
    moohound wrote: »
    It might be the emergency fund which everyone should have debts or not.

    It's £600 which is quite the emergency fund. Oh and the OP plans on spending it on a wedding and passports. So actually, no, it's not an emergency fund.
  • moohound
    moohound Posts: 1,209 Forumite
    Debt-free and Proud!
    Lioness_Twinkletoes wrote: »
    It's £600 which is quite the emergency fund. Oh and the OP plans on spending it on a wedding and passports. So actually, no, it's not an emergency fund.

    I only said 'might be' ;)
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  • sourcrates
    sourcrates Posts: 32,036 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Lioness_Twinkletoes wrote: »
    It's £600 which is quite the emergency fund. Oh and the OP plans on spending it on a wedding and passports. So actually, no, it's not an emergency fund.



    Not really, its the cost of a new washer, and fridge, or possibly a boiler repair, or enough to replace the clutch on his car.


    You have no idea of the OP`s circumstances, we try not to be judgemental on this forum.:A
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Lioness_Twinkletoes
    Lioness_Twinkletoes Posts: 1,573 Forumite
    sourcrates wrote: »
    Not really, its the cost of a new washer, and fridge, or possibly a boiler repair, or enough to replace the clutch on his car.


    You have no idea of the OP`s circumstances, we try not to be judgemental on this forum.:A

    I know that the OP has £600 he intends spending on a wedding and passports rather than servicing his debts. Unfortunately sometimes pointing out cold, hard truths is considered 'judgemental'. I consider it honest.
  • thewhiteavenger
    thewhiteavenger Posts: 291 Forumite
    vics1928 wrote: »
    Is my money safe in lloyds isa from offsetting rules? I have a dmp in place my debts bank wise are with barclays

    Yes, that should be safe if you have no debts with the Lloyds group.

    Well done on saving on the side of your dmp.

    Bear in mind that at some point you may be able to bring this to a close by offering a full & final settlement deal to your creditors.
  • chasingfreedom
    chasingfreedom Posts: 283 Forumite
    Sixth Anniversary 100 Posts Name Dropper Combo Breaker
    Lioness_Twinkletoes wrote: »
    I know that the OP has £600 he intends spending on a wedding and passports rather than servicing his debts. Unfortunately sometimes pointing out cold, hard truths is considered 'judgemental'. I consider it honest.

    I would also consider it honest to speak the truth but unless he owes you money personally I don't understand why you seem to be so irate about him having £600 in the bank for weddings/passports? (no clue how you even know that) If he choses to not spend his excess money on his debt that is his own problem, he is the one who'll be paying his debt for longer. He is obviously paying them in some way via the DMP.

    Also, generally if you are in a DMP do they not prefer you stick to the agreed amounts and not pay anything direct? (Don't shoot if I'm wrong, this is in my limited experience with one of these companies)
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