About bank change

[jolou]

I wanted to ask my iva finished in February that was when l paid my last payment. I want to change my bank account as currently with lloyds but it's just a cash card account and l like to get an current account. How long after your iva finishes can you apply for one and who's best to go with. Lloyds won't offer me an upgrade so have to move banks. Thanks for the advice

[Michael Peoples]

You may have to wait until six years have passed before your credit file is totally clean but I see no harm in trying now for a current account. Avoid those banks included within your IVA and perhaps try Santander or Nationwide.

I have also heard good reports about Metro Bank but I think you need to be within the M25 area.

[jolou]

Thanks for the advice l might wait till the 6 years is up. I had a Santander credit card on the iva so probably not get a bank account with them. Just be nice to have a current account again. After the 6 years does it just clear from your credit file.

[Michael Peoples]

Everything stays on your credit file for six years whether good or bad. It may be worth waiting as by the sixth year only mobile phones, Sky etc will remain on your credit file leaving your scoring vastly improved.

[jolou]

Thanks Micheal that's what l do. You been really helpful as my iva finished then never really got told what happens after.

[Foggy]

Have a look at clean up advice here:

http://pjgrecovery.com/clean-up-credit-rating.asp