I wonder if that will apply to people in an IVA as well?
Some of the reporters info was a bit duff though - you don't get a court order at the end of the 12 months allowing you to borrow again, you just get automatic discharge and sometimes sooner.
I think it's a disgrace that they're doing this. We shall just have to recommend Barclays now instead.
It may be disgraceful that the Co-Op has stopped this, but what I think is the real disgrace is that they were only one of two banks that offer accounts to bankrupt people. It's not a criminal offence to be bankrupt, (or in an IVA), but you can't be blamed for thinking so sometimes.
The problem is the Co-Op say they are losing money with the accounts, now this will mean a rush on Barclays the only one left, how long will they allow this.
Steve Hawkes at the S*n has never written an editorial that contains nothing but fact and the truth. There maybe a glimmer of a story in his editorial, but I seriously doubt any of the quotes he writes.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Seems IVA-ers might be spared ... from co-ops own site:
* Our definition of an un-discharged bankrupt is someone against whom a bankruptcy order has been made and who has not been discharged from bankruptcy. In most circumstances the customer is discharged after 12 months.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
