I have been advised to change my current account ahead of an IVA or DMP and am in the process of doing so as I have unsecured debt with my current bank.
Once I have changed will I be forced to give up this account and move to a basic account elsewhere if I start the IVA/DMP?
IVA Accepted - Sep 2009
F&F Accepted - Oct 2014
CC Received - Jul 2015
I banked with HSBC for years but as they were a creditor I needed to open another bank account. I went to the co op pre iva and got a full current account with chequebook and visa debit.
It depends on your credit rating what type of account you will be able to open but a basic will be fine if you get one of those as you will get a debit card and online facilities.
Good luck
Be positive & look after yourself, there are more important things in life than debts....
I have been offered a full current account with the Abbey, nearly ready to transfer from HSBC (they are a creditor) just didn't want the hassle again if I had to give up full current account status.
IVA Accepted - Sep 2009
F&F Accepted - Oct 2014
CC Received - Jul 2015
No you will be absolutely fine as long as Abbey are not a creditor.
I did not tell the co op when I changed that I was going to enter an iva, I cancelled the overdraft facility the offered me and the account has been running fine for the last year.
Don't worry
x
Be positive & look after yourself, there are more important things in life than debts....
Robin1 - if Barclaycard will become a creditor, then you should not open an account with Barclays.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
