www.iva.co.uk

I am currently looking at entering an IVA but have one major concern which is what i should do about my bank account. my partner and i have current accounts with Barclays with ddebit cards and cheque book which i know we will not be able to get matched now elsewhere becuase of our credit rating. Barclays is one of my creditors who will need paying if we take out the IVA although the debt has now been passed to a debt collection agency.

Is it paramount we move our bank accounts or is there a way around this? My partner is self employed and having no cheque book or debit card would make running his business near imposible!

I'm only a novice and not yet in an IVA - currently preparing. I asked the same question about bank accounts in preparation for investigating and IVA and I got a lot of help from this forum. My accounts are with Barclays as are the rest of the family but I have overdrafts with them so they will form part of my creditors. I have today gone and opened new accounts with TSB who have no connection with any of my other debts. They did do credit checks and asked me why I was changing - accounts now opened there and then. Advice I got from this forum that there are some which don't do credit checks for basic accounts. Have a look at the rest of the comments on this site about bank accounts.

I am afraid there is no way around this, if they are a creditor they must be included.

I would suggest that the CO-OP Cashminder account will give you a basic facility. If you are looking for one with a debit card card the Natwest offer a Step account which will give you a SOLO card which is widely accepted.

Halifax and nat west do a basic bank account with a debit card and no overdraft and they are happy to open it if you are entering an IVA

mrs skint

If it is you that is proposing the IVA, your partners accounts should not be affected - unless of course they are joint accounts. I assume that you could not be joint on his business account?

yorkshire bank have a fantastic basic current account no credit check but you get a maestro dual function debit card which is accpeted everywhere. more so than solo. there is no cheque book / overdraft though.