I personally think people in or who have finished an IVA are the most credit worthy of all. We stick to budgets and don't borrow money as we're restricted and most of us never will. I have never understood how we are penalised for being so careful when we have lived for years on being frugal. As for a credit union, I'd be up for that. Personally, I never want a loan, credit card or mortgage again from any bank, anything to save my self from having any debt and a credit union that I can put away my saved pennies in would be great especially if the banks don't get a penny! [:D]
IVA completed!!! Looking forward to getting my life back! Stay positive and you'll get there in the end.
The banks are out to make money : we're not making them money if we are not using overdrafts,taking out loans & using credit cards-
I think that's all they are interested in.
Having a bank account with a debit card & cheque book in my opinion has been made ( by the banks) into a basic necessity of daily life so not to have access to such things is just wrong.
IVA COMPLETED & CLEAN CREDIT FILE.
An old bible proverb says this: the rich one rules the poor, and the borrower is a slave to the lender.
I have not heard of this in professional circles - if anyone does get notified that Lloyds are closing their accounts please let me know, so I can refer this higher up the food chain.
A year ago Sue Clay was referenced on another IVA site
'One of our resident insolvency practitioner experts, Sue Clay, reported concerns in our forum that Lloyds were closing the bank accounts of customers that were in an IVA.'
I think that was mooted, but never actually happened. I will check with Sue tomorrow to see if she has heard of any updates - but would have thought I would have heard of it has something happened recently.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Hair_bobbles
I am not surprised about this latest development: LLYODS are the biggest bunch of sharks out there ! ( our main creditor )
However! How are they able to identify account holders in an iva?
I believe they get monthly feeds from the credit reference agency. I've not had a credit product with Bank of Scotland, but they have an agency score for me which is updated monthly as I understand it
I think they get this so they can target offers (such as credit cards, loans etc)
LLOYDS closed our personnel & business accounts without warning- fortunately for us I had already opened new bank accounts with the Santander just before we started the iva process so we have had debit card & cheque books with the new accounts all through the iva.
My advice to anyone considering an iva is to open a new bank account up before you start the iva process.
We have never had any problems with the Santander during our 5 years of our iva.
IVA COMPLETED & CLEAN CREDIT FILE.
An old bible proverb says this: the rich one rules the poor, and the borrower is a slave to the lender.
Oh! & thanks Martin......I feel like " big brother is watching me" before long the credit reference agencies will be able to tell us what brand of cereal we buy & where we buy it from!!!!
IVA COMPLETED & CLEAN CREDIT FILE.
An old bible proverb says this: the rich one rules the poor, and the borrower is a slave to the lender.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Hair_bobbles
Oh! & thanks Martin......I feel like " big brother is watching me" before long the credit reference agencies will be able to tell us what brand of cereal we buy & where we buy it from!!!!
I did see on a documentary that Tesco/Asda (can't remember which) uses credit/debit card numbers to build a customer profile. In theory this linked with the fact they both do credit cards....
Has anyone got first hand knowledge of Lloyds group bank actually closing an account, where no debt was owed to the Lloyds banking group and the account was in good standing ?
I'm concerned on 2 counts
- I bank with them (since mid last year)
- bank choice can be limited enough for those in an IVA, restricting that choice on the basis of rumors and spreading of FUD (fear uncertainly and doubt) cannot be good
Over the last 12 months there have been numerous accounts from former Lloyds customers in IVAs that they have had their accounts either frozen without notice or closed, on this forum and on several others.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
Over the last 12 months there have been numerous accounts from former Lloyds customers in IVAs that they have had their accounts either frozen without notice or closed, on this forum and on several others.
It's odd that in spite of a few threads on here and other forums theres little i the way of solid information
What seems t happen is this
- someone says that Lloyds are withdrawing support (not seen one started by an actual account holder
- people move out of fear (and perhaps close the old account as part of switching process
- everything goes quiet
What I'm not seeing is threads along the lines of people having their accounts closed solely due to an IVA (the threads go quiet when other lines of credit are enquired about)
