New Bank Accounts

[ValiantGal]

Hi

I've just read on this fantastic site that the Abbey is linked to Cahoot.

I am currently paying to a DMP but going ahead with IVA. Cahoot is one of my creditors, I didn't realise this when I requested an account online a couple of days ago.

Do I need to cancel this account and try another that isn't linked to any debt that I owe[?]

[aguise]

Hi there
If they are a creditor linked to your account, yes you will. Just a basic account and check that it is ok for an iva as some closing accounts of those in iva,s but ther are plenty around.

Good luck and keep posting.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[ValiantGal]

I didn't realise that Abbey and Cahoot were linked! When you apply online they don't ask those sort of questions.

I did call after I requested the account and they said i'd been accepted and that they'd just provide the standard account.

Now i've got to try again. Doh.

Can I ask what would the consequence of banking with Abbey be if I owe Cahoot money?

I'm currently with the Halifax and have an overdraft and CC with them so I realise why this is necessary to move, but not with Cahoot as they aren't the actual bank.

This is more than likely as silly question and i've already answered it above!!

[aguise]

Not silly but the fact could be I suppose they could keep any money in the account to reduce their debt. Better to get one not associated with any of your creditors and that way you will be safer and wont lose for example your income if it went in to the other account and they froze it.
Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[ValiantGal]

Thanks for that.

Well when the paperwork comes through for that account i'll have to inform them that I won't be needing their services!

I'm now in the process of contacting a bank not associated to my debt, crikey you don't realise who's connected to who until you check.

Once again thanks Aguise

[Skippy]

Have you tried the Co-op? I have a basic account with them and they are very good - you get a Visa Electron card which comes in very handy!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[ValiantGal]

Skip, unfortunately the Co-op is another one of my creditors. I feel quite ashamed that i've only got 3 options for bank accounts, two of which i've checked do have maestro cards.

Anyone have any problems paying for things with Maestro?

[cr15py]

Lloyds TSB are good as well ValiantGal, I got in with them with no problems and I was completely open about my position.

[ValiantGal]

Thanks Cr15py, but they are another *ashamed smilie*

[Skipper]

Alliance and Leicester is any other BB account you could have.You can pay into the PO for that one.

"Always think outside the box"

[ValiantGal]

Alliance and Leicester is any other BB account you could have.You can pay into the PO for that one.

"Always think outside the box"

Do you know if they have any associated companies?

My debts are with
Co-op, Cahoot, Barclaycard, Next, Lloyds TSB, Halifax, Egg & Dorothy Perkins

[cr15py]

There is NatWest, don't think they are associated to any of the above - not sure what they are like with IVA's though.

Nationwide? Someone mentioned them yesterday.

HSBC traditionally close accounts of people in IVA's from what I read on here.

Just a couple of thoughts, hope they help.

[ValiantGal]

Thanks Cr15py, just sorted a NatWest account (step account) online

[aguise]

Glad youre sorted.

Ang


Please visit my blog at http://aguise.blogs.iva.co.uk/

[Skipper]

A and L used to be the Giro Bank. So you can't go wrong eith them. Goto the branch and asked for a pack for Basic bank account. You can pay/withdraw in the PO, and with 14,000 branches, would you need to go to a Bank..unless you are paying a cheque....

Natwest is cool,apply by phone as I did,for instant acceptance.No need to show no documents at branch. You get a Solocard,an alternative to a VE.

"Always think outside the box"