www.iva.co.uk

Hi there.

I am aware that the Co-op offer a cashminder account, but wondering who to open an account with pre IVA?

I would like a switch or visa debit card, not electron as I have had one of these in the past and struggled with who accepted it.

If an account is opened at for example Barclays pre IVA and a full debit card is granted, provided the account is maintained would they revoke the debit card when an IVA was then entered into? As far as I'm aware, we dont have any debt to Barclays.

any suggestions greatly appreciated!
flowerpot

Hi Flowerpot, I have a Nat west basic account, and with that i get a solo debit card, which is great, and i can use this almost anywhere. You will need to open a bank account with a bank which you don't owe any money to.

i opened my new bank account with lloyds just before my iva and have a visa debit card.
no problems at all with them. also have a instant access savign account with them with where i transfer all my overtime into every month which i use for xmas and birthday presents and of course pay half into my iva every year.

I am with LLoyds Tsb and they gave me internet banking,cheque and debit card. And they Knew I was going into an IVA. But they were NOT a creditor

P

Best go into the bank and not over the internet to get sorted as there is certain protocols the computers have For acceptance that can be got round in the bank in person.
Hope this helps
P

Hi Flowerpot
As long as you do not open an account with HSBC or First Direct then you will be fine and should be left alone once your IVA begins.Just be sure not to accept any credit facilities
Regards

ssshhhh.... dont tell HSBC about my IVA, i'm alright until they find out!!!!

Whilst going through the IVA process I changed my bank account from HSBC to the Co-Op. I did it online and I was given a Delta Visa debit card and no overdraft, which isn't allowed whilst in an IVA anyway.

Hi flowerpot

Make it a priority to open a new account if you are going to apply for an iva, I did min before and was able to get a standard current account. I opened one online with the co op and also a savings account and had no problems with either as my credit rating was not affected then.
As Andy says make sure it is not with HSBC/First Direct as they seem to regularly check the insolvency register and close accounts of customers in iva's.
Also make sure your new account is not one of your creditors and you will be fine.

Good luck

I have just opened a Smile account with co-op. got cheque card and debit card. Only thing is they HAVE GAVE £500 OVERDRAFT, DON'T KNOW HOW TO CANCEL THIS. AS DON'T WANT IT!! Any ideas

Hi Angela, I have that account too, if you send them a secure message asking for them to remove this facility they will. They send you a confirmation secure message saying it has been removed and I printed this and sent it to my IP for their records.

thanks isthereanend i'll try and do that, not very technical minded tho[:I] don't want to be frowned upon when putting my case to the creditors

angela it is not against the rules to have the overdraft facility there, but you will breach the terms of your iva if you use the overdraft as it is considered credit.
The co op did the same with me for £1,500 which I popped into a branch and explained that I did not want this and they removed facility on the spot.

Personally I think the best thing is to get it removed as all temptation is out of reach[:)]

thats why I want it removed. CREDIT is a dirty word in my household now.. and thats the way it will stay. Slowly but surely learning by our mistakes

Just done the secure message to remove. Thanks for the tip Isthereanend!!