Which Bank to Gobble Up Northern Rock? Update on IVA FOS Complaints
Rumours are flying about which UK bank will feast on the misfortune of Northern Rock and digest all or significant parts of the bank. The most likely cast of characters is HSBC, Halifax / Bank of Scotland and Lloyds TSB. On the outside there might be interest by Dutch ING as well.
For Insolvency Practitioners and the current battle over IVA changes, the prospect of watching Northern Rock fall into HSBC or HBOS has significant ramifications since these two banks are currently operating under the TIX Compliant IVA standards that unfairly restrict consumer access to fair, reasonable and sustainable debt solutions.
Lloyds would be the best case scenario since they are a reasonable bank for Insolvency Practitioners to deal with regarding Individual Voluntary Arrangements.
Source: myvesta.org.uk
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