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Can bailiffs / CCJ or any other force related to debt collection, take money from your S&S ISA?
CreditCardChris
Posts: 344 Forumite
Let's say for example you owe £20k or whatever you're taken through the system but you still refuse to pay up. I know your bank account can be frozen and the money in it can be taken to pay off the debt but what about your S&S isa?
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Depends on the type of debt solution that follows from a CCJ. Bailiffs tend to take chattels - moveable items. CCJ's tend to want free cash.
However with sufficient debts (over £5K?) there is a possibility of bankruptcy proceedings where assets such as an ISA can be used to pay the creditors.- All land is owned. If you are not on yours, you are on someone else's
- When on someone else's be it a road, a pavement, a right of way or a property there are rules. Don't assume there are none.
- "Free parking" doesn't mean free of rules. Check the rules and if you don't like them, go elsewhere
- All land is owned. If you are not on yours, you are on someone else's and their rules apply.
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As above, yes, there are routes that can lead to assets such as you mention being taken.CreditCardChris said:Let's say for example you owe £20k or whatever you're taken through the system but you still refuse to pay up. I know your bank account can be frozen and the money in it can be taken to pay off the debt but what about your S&S isa?
If you’ve been ordered to pay by a court (is that what you mean by having been through the system?) then why are you refusing to pay?0 -
I haven't been ordered by a court and I don't owe any money, I'm just asking as a matter of curiosity.John_ said:
As above, yes, there are routes that can lead to assets such as you mention being taken.CreditCardChris said:Let's say for example you owe £20k or whatever you're taken through the system but you still refuse to pay up. I know your bank account can be frozen and the money in it can be taken to pay off the debt but what about your S&S isa?
If you’ve been ordered to pay by a court (is that what you mean by having been through the system?) then why are you refusing to pay?
Thanks for the replies.0 -
It may be useful to point out that pensions AFAIK are protected from bankruptcy
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