We are self employed, and run a guesthouse and currently in an IVA for two years. Our accountant has advised it would be beneficial to be a limited company, can we set one up when in an IVA?
I have found a company on line "Ltd Companies" that promise they will get you a business bank account but want paying £170.00 up front???? Are they dodgy?
I wouldn't be paying upfront unless there was no other option.
What company is this?
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
Hi, I set up a ltd company just after my IVA started and got a business account through Barclays, told them everything that was going on and they were great. I did try HSBC before them and they just said a flat no....
Hi - Just thought I would update this, the HSBC said "yes" to a limited company. Originally the computer said No, but our new Business Manager took it further for us, and managed to get one open for us. Our next problem is now the card services, who we have been with for six years, so asked to swap to the new business account and they have said no. Failed the credit check and now cancelling their existing service with us. Without a PDQ we will not be able to operate!! Has anyone any idea of any card companies that we will be able use, while we are in an IVA?
Good news with HSBC as they are usually rubbish with an IVA but bad news with the card company.
Could HSBC help you with that as well?
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
The card company is HSBC approved partner, and he has intervened on our half, but it does not look hopeful. Just wondered if I should start asking around now, if anyone can help.
I do hope someone can help you Jayne - one of the experts might be able to advise.
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
It seems ludicrous that the bank will offer you banking facilities but their card provider partner will not. You can hardly defraud the card reader at the end of the day as it does not involve a cash exchange. If the bank's own service provider refuse to give you a suitable facility, are they able to recommend others you could try?
HSBC card services have phoned today and have agreed to change things over. I know this is all really due to our Business Manager at HSBC who has really helped push this through for us. I would recommend to others not to give up hope with your bank, if you have a good business plan, things still can work out. Even though, it seems at times that people don't realize how much they can be messing up your life things can go right every now and again.
That's excellent news Jayne, so glad you got it sorted.
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
