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Posted: Fri Sep 11, 2009 10:12 am
by blonde38
Hi All,

I get home last night to find a letter from First Direct telling me they were closing my account and requesting me to send back my debit card and any un-used cheques as they had received notification of my IVA proposal. My IVA has not been accepted yet my meeting is on Friday 18th.

I have banked with them for 14 years and have never missed a payment on my loan or gone over my agreed overdraft limit. I had always been impressed with their service but am rather taken aback by the speed with which they have dropped me as a customer!

Luckily I have opened a Co-op Cashminder account so my salary will be paid in there this month.

x

Posted: Fri Sep 11, 2009 10:16 am
by Michael Peoples
It is standard for them to close the account regardless of whether your IVA is accepted. By proposing an IVA you are admitting that you are insolvent and have defaulted on all your liabilities.
At least you do have a new account so will not be affected.

Posted: Fri Sep 11, 2009 11:41 am
by bergy
Alliance and Leicester did the same with me. Seems the days of being a loyal customer actually meaning anything are long gone.

Posted: Fri Sep 11, 2009 11:44 am
by Michael Peoples
Bergy. Did A&L close your account because you entered an IVA or because you owed them money and included the debts in your insolvency?