Blocked accounts

Lauradells

Hi. My partner is 2 years into an IVA. When he was a child his mother set up a savings account for him in both their names. 

Yesterday she tried to gift him £4000 for furniture for his new rented home. It wouldn't let her do it online. She called the bank and they've said both of her accounts (one she shares with him and her OWN personal savings account that is NOT linked to her son) have been blocked due to his IVA. 

Her personal savings account shouldn't be blocked should it? That account has no connection to him whatever. She was trying to transfer it into his own personal separate standard debit account. 

So now she cannot access her money which is her retirement money. 

(There is only £300 in the joint account and she is not interested in that, she just wants to access her money in her personal savings)

Can anybody help?
Thank you 

MrFrugalFever

Can’t comment on why her accounts have been blocked but if she transfers the money to him, the IVA firm will require it paid in to the agreement as it is classed as a windfall. The best and correct thing to do is for his mother to go shopping for the necessary furniture and she buys it for him, furniture is not classed as an asset and is essential living items so wouldn’t be part of the IVA.

if he is thinking of trying to conceal the £4,000 in a different account then he is playing a dangerous game.

fatbelly

She will just have to take this up with her bank.

Anyone contemplating insolvency should give maximum notice to people they hold joint financial products with, to give them chance to de-link, if they can.

My main surprise is they've got 2 years into this without it being a problem.