There is no problem in you joining a credit union whilst in an IVA, but you may have to declare it depending on the terms of their constitution. I assume that you would be doing this as a place to put your savings, rather than looking to borrow any money?
A credit union is a sort of 'bank' run locally for local people by local people. You save money in there and can have loans (obviously not whilst you are in an IVA) but there are strict criteria for that.
I'm sure if you Google Credit Union and your area you would be able to find one.
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
I'm sure if you Google Credit Union and your area you would be able to find one.
Thanks for the information, not looking for one, just wondered what they were. I am almost at the end of my IVA, so will just be sticking to my existing bank account and maybe opt for a vanquis card just to help with credit ratings at a later date.... I am just over the moon that at last we are soon to be debt free.
They are good for savings if there is one near you - I think the interest rates can be higher for savings accounts.
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
