New Bank - Will IVA affect?

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MTpockets

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Post by MTpockets » Sat May 09, 2009 7:28 pm
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Hi all [:D],

I'm in the very early stages of considering/proposing an IVA.

I have just opened a new current account with Barclays (not a creditor). They have given me a debit card and I declined the offer of an overdraft. At the moment my credit score is OK as Barclays were falling over themselves to give me 'extras'.

My question is, if and when my IVA is accepted, will Barclays withdraw my debit card or close my account?

Thanks.
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Skippy

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Post by Skippy » Sat May 09, 2009 7:32 pm
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Hi and welcome to the forum.

Your current account with Barclays should be fine - as far as I know it's only HSBC who close the account of someone in an IVA.

Good luck with your IVA - which company are you with?
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sweet mysteries

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Post by sweet mysteries » Sat May 09, 2009 7:44 pm
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skippy i take it first direct who are part of hsbc will close accounts as well then?
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Skippy

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Post by Skippy » Sat May 09, 2009 7:51 pm
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Yes unfortunately they do. When they find out about your IVA (and they regularly trawl the insolvency register) they will most likely give you 30 days notice to close the account.
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kallis3

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Post by kallis3 » Sat May 09, 2009 9:05 pm
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Barclays never closed our account, and they were one of my creditors.

HSBC and First Direct have to be the most unsympathetic banks towards IVA's.
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
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sparklywatcher

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Post by sparklywatcher » Sat May 09, 2009 10:28 pm
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I have opened my account with the Coop so hoping that will be okay, as they are supposed to be reasonably IVA friendly
Creditors meeting set for 2nd June....
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rhondda2

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Post by rhondda2 » Sat May 09, 2009 11:45 pm
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you should no problems with the co-op at all,they are iva friendly,had then all through my Iva
Iva F&F settled...Yeah !!!
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MTpockets

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Post by MTpockets » Sun May 10, 2009 8:39 am
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Skippy13 wrote:

Hi and welcome to the forum.

Your current account with Barclays should be fine - as far as I know it's only HSBC who close the account of someone in an IVA.

Good luck with your IVA - which company are you with?
Thanks, that's good to know... and you think they'll let me keep the debit card too?

Not sure who I will use for IVA yet... I have some good people looking at the options and I'll know more soon!
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mole

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Post by mole » Sun May 10, 2009 8:46 am
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Yes MTpockets, you should have no problem keeping the debt card. Just get your salary and direct debts transfered asap. Most companies you can arrange this with on the phone.
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