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LISA/Junior ISA with Administration Order
adbarrett
Posts: 1 Newbie
Hi,
I have a friend who has an administration order. Would she be able to get a LISA or would this cause problems with the administration order? What about a junior ISA for her daughter?
Thanks!
I have a friend who has an administration order. Would she be able to get a LISA or would this cause problems with the administration order? What about a junior ISA for her daughter?
Thanks!
0
Comments
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I guess it depends on the terms of the court order (which she should have been provided with) however provided she is making the required monthly payments then I see no reason why she cannot save other surplus income.
If she falls behind in repayments then this might be an issue as the LISA has a withdrawal penalty and the court might take a view on gifting the money (that could have otherwise been used for repayment) to a child via a Junior ISA.
Alex.0
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