www.iva.co.uk

can somebody tell me why do you have to go though credit checks for a savings account it not if you are asking for credit loans or credit cards but just a savings account any ideas

JOHNPAUL

I am hopefully looking at going foward with an iva and changed my current account in preparation and have also opened a savings account (don't know if I will have anything to put in it, but here's hoping!!!)
I had to send in identification to open this, as they say they need to check your identity and I think check you are not going to use the account for any fraudulant/money laundering (I think this is what the letter said)
I would pass a credit check at the moment, not for much longer though!!, and have opened current and savings account with the Co Op, they have been so helpfull so far and the internet banking is very easy to use. They have supplied a standard current account with a visa debit card but I have specified that i want no overdraft facility or credit.
I am so hoping to have my iva approved as I think this will be a chance for me to learn to live on a budget and without relying on credit - this would be a first for me to not have a card to fall back on if you really want something and can't wait and save up.
I think things would be much more appreciated and enjoyed if you have saved hard to get them.....
In an earlier post johnpaul you said you had hoped to borrow money from family to pay off your debts, I am not saying this is wrong but in my experience, when I was much much younger my father helped me out and I did not learn from this and did not have to face up to mess I had got myself in and we ended up falling out and did not speak for over 10 years. I have only just got back in touch with him recently and it is such a large chunk of our lives that has been missed by a silly argument.
I wish you well with your iva proposal and hope all goes well for you

hi emmaa friend of mine is doing a iva and he had no problem getting a cash isa but had to go though credit checks for it and he linked it to is bank account hes with natwest

JOHNPAUL

Hi Emma ... just to say that when I was doing my IVA it really helped me to get a fresh financial start. My finances have never been simpler now and more organised!

Good luck with your own 'journey'

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

i hope they say yes to mine and then i can get on with my life and then debt free

JOHNPAUL

The checks are for ID verification, they probably will not look at credit scoring.

Co-op told me the reason they wouldn't give me a savings account was because I'd failed a credit check.

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/

Ive also been refused a savings account because of a credit check

are you doing a dmp becky or iva or bankrupt if i may ask
if this helps a mate of mine is doing a iva and got a cash isa even though hes doing a iva and went though credit checks and passed

JOHNPAUL

I opened a savings account after starting my IVA, no credit check just comfirmation of ID, this also has to be linked to a bank account, some banks building soceities may not credit score for savings accounts, some obviously do.

hi louiseh depends on what type of savings account it is
eg if its a cash isa then yes you will have to go though credit checks but if its a run of the mill savings account then i would say no credit checks
i have a cash isa with natwest and i have a advantage gold account with natwest the cash isa is linked to my bank account

JOHNPAUL

My savings account is a cash ISA, no credit check though.

and i had to go though credit checks for the cash isa

JOHNPAUL

im in an iva

can i ask becky who was that with to get a savings account

JOHNPAUL