They shouldn't do. Most of us have been able to run normal bank accounts in IVA with the general advice being to ensure your Bank is not one of your creditors.
First Direct and HSBC however trawl the Insolvency Register and have been known to close accounts down.
Last edited by winter_blues on Sun Feb 24, 2013 8:11 am, edited 1 time in total.
I have a Santander account which run without any problems during the term of my IVA so Im sure you will have no problems with your current banking arrangements all the best Rich
"Always remember that the future comes one day at a time."
IVA completed . Just started a blog, if you get chance please take a look. http://rich.blogs.iva.co.uk/
First Direct closed my account down even though I cried on the phone and I didn't have an overdraft or anything with them. Luckily I had an old account with Santander, and I started using that again, no problems 7 years later! *touches wood*
Reassuring to see this as I also have a current account with Santander and am looking at entering into an IVA if possible so have been concerned I may need to change my bank account. I have an overdraft but it will be cleared so fingers crossed they dont close the account if I am accepted into an IVA.
Got married two months after i completed! Building my life back up again but still staying on here to support all those who helped me in my times of need!
Although its not encouraged, i opened a basic account with Santander two yrs into the IVA. Santander were amongst my creditors. The account has been fine, its almost a yr now.
*IVA started Sept 2010
*Last Payment Taken August 2015
*Completion Certificate Issued November 2015
That is interesting to know hwima. Thank you for sharing that with the forum, although I would not recommend this to anyone looking for new account facilities if they have debts with Santander and have a choice of alternatives.
