Hello I'm currently going through a Iva with credit fix the meeting is on September 28th which I'm very stressed in the waiting game just so hope it's accepted as life will be so much better without all the bills. I've changed my bank account was with lloyds but had overdrafts which are included in the Iva I've now opened a account with natwest but I've also got a credit card with bank of Scotland which is in the Iva I've just seen these 2 are connected will it be ok to contuine with natwest I've just had the stress of moving everything over nothing is going my way at the minute many thanks for your time.
You should be OK as long as Natwest don't make the connection. Just to be on the safe side maybe open a co-op cashminder account with a fiver, so you have an account to turn to if Natwest play up. I did that and although Natwest were OK I ended up using the co-op as my main account, and still do. The Natwest account is still sat there with a few quid in !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Agree with foggy .... identify a completely unlinked bank and open an account 'just in case' ... I opened a online account with Smile - part of Co-Op group and still use it today.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Natwest have been known to funny with IVA's so I would suggest Co-op as a first choice
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
Not sure they would make a connection right away but I'd be tempted to jump to a completely unconnected bank.
I used the co op for 5 years and thought it was an excellent account and only moved to nationwide to benefit from their paid account which comes with a few benefits (breakdown cover, mobile insurance etc).
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I am the same as Luluj, I opened a Smile account before my IVA was setup and still have it now.
They gave me a £1000 overdraft facility on it which they reduced to £500 when the IVA was setup which brought it down to the £500 allowed under the IVA.
The overdraft came in handy on a couple of occasions when my car was going seriously wrong and they were a Godsend with help when my Ebay/Paypal account was hacked.
Barclays, who I was with, on the other hand was completely different, even closing down an account my wife had with them just because she had not used it for a couple of years.
It only had around £10 in it but they did not even tell her they were closing it, she only found out when she tried to pay some money into it.
Don't touch HSBC or First Direct with a ten foot barge pole. They trawl the Insolvency Register and will close accounts even if they're not a creditor.
Nationwide are fine as well. Had no problems with them throughout the IVA. Surprised at Barclays - we had (and still do have) a full bank account and both of us had an IVA and we continued to use it.
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
Kallis, I don't think the Barclays issue was anything to do with the IVA as my wife was not in it and we never had any shared accounts.
Barclays was just getting rid of bank account that were not being used for a while as they did not make any money for them. My wifes had not been used for 2 year as she was not earning so everything went through mine, it was only when she tried to bank some money her father gave her that she found they had closed it.
I had banked with them from being 16 for around 30 year but would never go back to them, will stick to Smile (Co-op)from now on.
Right - sorry about that, got hold of the wrong end of the stick!!
They should have told you it had been closed though.
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
nothing is going my way at the minute many thanks for your time.
