www.iva.co.uk

I'm either going to be entering into a DMP, or more likely Banrkuptcy fairly soon but want to open a new bank account now rather than when the days comes and I'm declared BR or once the ball starts rolling on a DMP - mainly so I can have my salary paid into an account who are also not a creditor. I'm probably going with the Natinwide Basic Account, would there be any problems in doing this now rather than in a couple of months when the outcome of my situation is known?

Should I tell them I'm probably going to be declaring myself BR?

hi i applied for a new bank account with smile when i knew i'd be entering into an iva as my old account was with a creditor. I got a debit card and cheque book but asked them to take away the overdraft . I was glad i sorted that out first as lookin at some of the stories on the forum some people have really struggled gettin accounts after enterin ivas or dmps. I didn't tell them i was entering an iva as they run credit checks anyway , plus it was before my iva had been accepted

Hi Simon

When I was proposing my IVA, I was told to open a new account immediately and have my salary paid into it. Unfortunately my company did not and it went into the old account. Perhaps you would be better off switching accounts now, so that should any problems arise you can sort them out before entering into a DMP or petitioning for BR.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

i am with nationwide and set this up before my iva..its a basic acc but with internet banking which is a plus! def do it now to make sure you swap your wages and all the essential direct debits etc.

Be careful if you go with first direct as they dump you as soon as they get wind of your IVA

As soon as I began to look at an IVA I opened a standard current account with the Co-Op Bank. I didn't tell the Co-Op why but I did tell them that I didn't want an overdraft. I did it all via their website and it took about 5 working days until I received my cheque book and debit card. My employer changed their details straight away and my salary is now paid into my new Co-Op account. I had a current account with HSBC who hold the majority of my debt. Payplan also told me to do this well before the IVA is even proposed.