bank account with creditor

[rickyg33]

One of my creditors will be HSBC credit card. I've also got a current account with them.

Anyone got any feedback or experience regarding continuing with a bank account whilst the bank is also a creditor throgh a credit card debt?

Obviously there would be no overdraft facility allowed in the bank account but otherwise, anyone done this before?

[MelanieGiles]

HSBC appear to have a policy of closing down accounts for people who are in IVAs. i would look for another bank to be frank.

[emma_t]

Hi rickyg33

At the time of proposing my iva I had a HSBC credit card and 2 current accounts.
one was in credit and only used for work expenses, the other had an overdraft to be included in my iva. As soon as HSBC were informed of my decision to propose an iva both accounts were frozen and I could no longer access the internet banking service.

I would make it your priority to change asap as Melanie says as they are closing accounts of people in iva's even if there have been no problems with the account and they are not a creditor of the iva.

I am now with the co-op and they have been fab, have a savings account also for a rainy day
Emma x

[Jo Rolland]

You can apply for a Coop Cashminder Basic account by calling 08457 212 212. I have always had great feedback from clients opening accounts with them.

Good luck with everything.

[ianmillington]

Agreed - get a new one sorted, preferably before you get things underway.

Ian

[rickyg33]

I already have another one available - no overdraft facility, so shouldn't upset anyone - and the bank aren't involved.

It's a shame as the HSBC is just up the road and convenient - the alternative one is an internet-based bank, which is OK but the convenience of being able to pop in to the high street branch is removed.

rickyg