bank account

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MARSHA

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Post by MARSHA » Tue Oct 30, 2007 6:56 pm
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Hi, I am enquiring for a friend of mine. (sounds corny but its true) he has been discharged from bankruptcy for 2 years now. He has a basic bank account with the Alliance and Leicester, he has a pre loaded debit card.
He asked the bank to consider giving him a full bank account as he runs a business and finds the basic one very restricting. They have refused him, why would they do this when he's not bankrupt anymore?
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ray_a

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Post by ray_a » Tue Oct 30, 2007 9:40 pm
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Basically because running a bank account with writing cheques, overdrafts, and other credit facilities could result in him being overdrawn and banks are nervous about giving a full bank account.

If he has an account and a prepaid credit card why does he want to go back to a normal bank account given he is credit free!
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mish1953

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Post by mish1953 » Tue Oct 30, 2007 9:42 pm
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BR stays on the credit record for 6 years - ouch

Mish
Early Discharge is not an illness !
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bagpuss

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Post by bagpuss » Tue Oct 30, 2007 9:44 pm
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they may have done a credit search and saw that he was bankrupt...as it stays on your file for 6 years...maybe in another 4 years he would be accepted...??

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/
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ray_a

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Post by ray_a » Tue Oct 30, 2007 9:51 pm
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Yes after 6 years it may be possible to open a normal bank account!
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Lisa594

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Post by Lisa594 » Tue Oct 30, 2007 9:54 pm
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HI

Just wondered if you do full and final IVA how long does that stay on your record, not that I ever want a credit card etc again, but will need to remortagage in a couple of years.

Lisa
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bagpuss

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Post by bagpuss » Tue Oct 30, 2007 10:07 pm
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6 years again...but it wont stop you remortgageing...

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/
Last edited by bagpuss on Tue Oct 30, 2007 10:08 pm, edited 1 time in total.
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MARSHA

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Post by MARSHA » Tue Oct 30, 2007 10:39 pm
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6 years wow!! I think he's fed up because he wants to be able to have money paid into his account from clients, but cant with the bank account he has, maybe he is not telling the full story, Im not sure.
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bagpuss

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Post by bagpuss » Tue Oct 30, 2007 10:48 pm
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I cant see why monies cant be paid INTO his bank account...even if it is a basic one...??...its only having any kind of credit facilities that he cant have.



Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/
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MARSHA

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Post by MARSHA » Tue Oct 30, 2007 10:51 pm
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He says its because there wont be a reference number for the payment, Im very confused because if he was employed rather than self emloyed then his wage would go in. I suggested he go to another bank, but he says he cant its too dangerous and it may be financial suicide, v. strange indeed.
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