www.iva.co.uk

It appears the Co-op are shutting the door on basic accounts for bankrupts.

Very bad form.

http://www.thesun.co.uk/sol/homepage/ne ... rupts.html

I wonder if that will apply to people in an IVA as well?

Some of the reporters info was a bit duff though - you don't get a court order at the end of the 12 months allowing you to borrow again, you just get automatic discharge and sometimes sooner.

I think it's a disgrace that they're doing this. We shall just have to recommend Barclays now instead.

Depends upon their interpretation of Bankrupt, Niobe. Many banks do seem to lump the two together !

I have two accounts with the Co-Op -- I wonder if existing customers are safe ?

I wonder if they will shut down accounts already opened like HSBC and First Direct as that will cause a lot of problems for a lot of people[V]

It may be disgraceful that the Co-Op has stopped this, but what I think is the real disgrace is that they were only one of two banks that offer accounts to bankrupt people. It's not a criminal offence to be bankrupt, (or in an IVA), but you can't be blamed for thinking so sometimes.

My current account is with the Co-op and they are aware of my IVA so I think it will be a case of no new customers.

The problem is the Co-Op say they are losing money with the accounts, now this will mean a rush on Barclays the only one left, how long will they allow this.

I think existing accounts should be fine.

I wonder if they will give an account once you are discharged?

Steve Hawkes at the S*n has never written an editorial that contains nothing but fact and the truth. There maybe a glimmer of a story in his editorial, but I seriously doubt any of the quotes he writes.

Seems IVA-ers might be spared ... from co-ops own site:

* Our definition of an un-discharged bankrupt is someone against whom a bankruptcy order has been made and who has not been discharged from bankruptcy. In most circumstances the customer is discharged after 12 months.

I'm not sure anything the Sun prints has any truth to it ... especially after this week[:(!]JFT96

At least they got this one right unfortunately.

Hi,

We have opened a second Co-op cashminder acc. this week with no issues.

Regards.

If you're already a customer then you'll be ok. It does look as though it's only undischarged bankrupts though.