IVA - 'Closed Bank Account'

isey235

Hi all

I am 18 months into an IVA and everything is going ok.

I had an overdraft with Natwest which was included into IVA and I switched banks.

A friend of mine transferred some money yesterday to my old Natwest account by accident. I'm horrified to see this hasn't bounced back to him. I thought the account was closed ??? I am now in debt to my friend and really annoyed.

Can my old Natwest account still receive payments ? Is there any way I can get them to return the money to my friend ?

Any advice would be greatly appreciated

[Deleted User]

could your friends bank not request the money back?im not sure but worth looking at maybe?

isey235

woodbine wrote: »

could your friends bank not request the money back?im not sure but worth looking at maybe?

Not sure that will work but worth a try

Thanks

DorisTrousers

I fear you face a bit of frustration here.

It is likely that Natwest, as your account should be no longer active, will have put the funds into a suspense or holding account. Your friend is unlikely to be able to easily get it back. At the same time, you will face the same problem as well.

It may end up that your IP has to contact the bank and get them to release the funds, although they may have to release them into the IVA, but a sympathetic IP should then be able to arrange to have them sent to you.

I hope I'm wrong by the way, but it will be interesting to see how it turns out for you.