hi steve and welcome.
the answer is no.
for an iva you will be classed as insolvent for the duration of the iva and your credit rating is shot for 6 years but it is not the same as bankruptcy although some banks when applying for accounts etc view them in similar veins. keep posting if you need help
Hi guys,the reason I ask is that I have a IVA that I started last Nov, I have just been told by my bank that they are basically going to pull the plug on me and I have 30 days to try and find another bank! Am I going to have problems?
Hi
Is it HSBC ?
Banks do seem to class Bankruptcies and IVAs in the same bag, I'm afraid.
You can try the Co-op Cashminder account, this is an excellent basic account
Regards
What bank are you with Steve? Banks do seem to have their own rules eh.....don't despiar there are other banks that welcome people in an IVa or Br for that matter. Co-op being one.
hey steve
dont panic you can get a new account.
the co-op one is very good and if you go to a branch with address id they can open it the same day.
yorkshire bank do a good basic account with a debit card-both have online banking.
quite a few posters have these and are in ivas.
natwest do a basic step account and abbey does a basic one-again quite a few people in ivas have these.
when you get your new account make sure you let your payroll know so they put
your money in the new account good luck x
How long does it normaly take? I basically have only 30 days to re-set my direct debits. I really did'nt need this,I thought this was behind me now and I could concentrate on geting back otrack with my life.
steve julies right the co-op do an electron debit card and the yorkshire bank a visa debit card.
you can go into abbey co-op yorkshire with your id and get the account the same day and they should be able to sort your d/ds too.
HSBC/First Direct are known to do this I am afraid. They will have got your details from the insolvency register[:(]
I used to bank with hsbc pre my ia and opened a new bank account with the co op and have been really happy with the service I have recieved. Most bank accounts come with some form of debit card and internet banking. When I switched to the co op they sorted out all the changeover of my direct debits.
Pop into a branch with the bank you choose and have a chat with them[:)]
Let us know how you get on
Good Luck
Be positive & look after yourself, there are more important things in life than debts....
I would recommend the Co-op Cashminder account. It can't be opened online, only in a branch or over the phone, but it shouldn't take long to get it set up.
Thanks for the help guys, its good to know that there are other people out there in the same predicament. I have never used sites like this before but its really re-assuring kowing that there is help at hand. Thanks again and I will let you know tomorrow how I get on.
Steve
