www.iva.co.uk

hi i have just paid my iva in full and final , one of my creditors was hfc who i believe are linked to hsbc , prior to my iva i had a bank account with hsbc which is still running but has'nt been used whilst i was in the process of my iva .
now that my iva has finished can i go back to using that account as it allows me to use a cheque book which comes in useful at times ?

Hi
If the account is still running then yes, no problem.HSBC do have a policy of closing accounts where people enter into an IVA, however they must of overlooked you.
Your name will come off the Insolvency Register once your IVA is finalised by your IP so you will be fine.
Regards

My perception is that so long as your credit rating says IVA on it, HSBC won't want to know you. As Andy says, you must have slipped the net!

There may well not be a problem but if there is, the bank that consistently gets good feedback on this forum is the Coop Bank, although whoever you bank with until the mark has gone from your credit rating it will be tricky to get anything other than a basic banking facility.

Hi depressed, I don't think HFC is linked to HSBC. I know that HSBC close the accounts of anyone on the insolvency register, but if it's still open I can't see it being a problem if HSBC weren't your creditor.

Hi Depressed.
Congratulations on successfully completing your IVA. You should have no problem using your account as you are not in an IVA and therefore you have no debts. HSBS could not claim offset against your account as there are no debts owing but they could tell you to go to another bank if they carried out an up to date credit check. I assume that you have an account that you used during the IVA so worst case scenario is going back to them. This bank may give you a cheque book anyway now that the IVA is over.

Good luck.

hi i am with co-operative bank they are great i opened it when i entered into my iva ,but they won't let me have cheque book so if i can go back to using my hsbc account without any problems now that my iva is completed that would be great !!!
i thought hfc and hsbc were linked anybody know how to find out ?
thanks for you help , should i wait until i receive my completion certificate before i start banking with them again ??

Hi
HFC are part of the HSBC Group.
Regards

According to Reuters:

"HFC is part of HSBC Holdings but is still run out of the United States and is not part of HSBC's UK bank". So the likelihood of a connection being made is probably slim.

If you do re-use your bank account I assume you won't close the Coop one (just in case!). Have you asked the Coop why they won't let you have a cheque book, or have they given you any indication as to when they might consider you favourably for one?

I understand that HFC and HSBC operate completely separately in the UK, and that there is no right of set-off applied over individual accounts. I feel therefore that the bank account is therefore safe.