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Posted: Sun Mar 11, 2007 1:16 pm
by juli3
I completed my IVA May 2006, 2 years early. I find I am still being 'punished' by some organisations; Northern Rock will not allow any additional borrowing in spite of no mortgage arrears... ever. And my bank insists on a decreasing overdraft; I have to reduce it by £60 every month. Does anyone know where I can get a current account with all the trimmings please? I really need internet banking and an overdraft. Also, when can I expect to be back to normal as regards the above? Thank you.
Posted: Sun Mar 11, 2007 1:19 pm
by kezza
An IVA will remain on your credit file for 6 years from the start of IVA, whether you complete early or not, then it is a course of repairing your credit score from then
Posted: Sun Mar 11, 2007 1:28 pm
by steve532
Hi.
I hope you dont mind me asking. Your have just paid up you Iva so your debt free?? So why do you want an overdraft you know its the slippery slope to debt again.
steve
Posted: Sun Mar 11, 2007 1:41 pm
by scaredkez
i have to agree with steve on this one why is it so important to have an overdraft again?
you have come this far you don;t want to get back on that slippery slope
kerri
Please view my blog at:
http://scaredkez.blogs.iva.co.uk/
Posted: Sun Mar 11, 2007 2:30 pm
by juli3
Thanks all,
I need an overdfaft as my pay can be irregular; Sometimes I have to wait five weeks for end-of-the month salary. so, rather than relying on an oerdraft, I do tend to dip in and out of it. Since completion of the IVA, my credit file is clean and shall remain so. I'd really like to change banks though. Any ideas out there?
Juli3
Posted: Sun Mar 11, 2007 4:45 pm
by neverending
Hi
Well in two years your file will be completely clean so you should be able to have an account"with all the trimmings".Until then I fear that you will be unable to secure an overdraft facility.
You could look at remortgaging to give yourself some cash as a buffer instead of an overdraft.
regards
Posted: Sun Mar 11, 2007 6:27 pm
by go_4_broke
You weren't allowed an overdraft DURING your IVA I hope j3 ?
Whilst waiting for your credit record to recover your best bet might be to open a basic cash account, use the account wisely for a while and then see if the bank can be persuaded to upgrade you.
The basic Nationwide Flexaccount will give you internet banking as standard.
-Best
'5 years sticking my head into the Lion's mouth of debt !'