would my bank close my bank account?

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blds

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Post by blds » Thu Jul 19, 2007 6:35 pm
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One of my debts is with my bank which is my current account.
if i had an IVA which included this loan, would my bank close my bank account?
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MelanieGiles

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Post by MelanieGiles » Thu Jul 19, 2007 6:36 pm
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Hi bids and welcome to the forum

Quite probably - you will need to open an account with a bank to whom you do not owe any money.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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iva_squirrel

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Post by iva_squirrel » Fri Jul 20, 2007 12:23 pm
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hi blds,

I'm afraid they will close your bank account as your bank is also a creditor. But you wont have troubles opening a basic account/cash card with Abbey, Natwest, Nationwide, Halifax.

Regards,
Michelle P.
Last edited by iva_squirrel on Fri Jul 20, 2007 1:53 pm, edited 1 time in total.
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Oliver

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Post by Oliver » Fri Jul 20, 2007 2:52 pm
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We always reccomend the opening of a "clean" bank account with someone who you don't owe any money to.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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hara

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Post by hara » Sat Jul 21, 2007 2:26 pm
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Is it obligatory that a bank you owe money will close account,I informed my bank manager before me seeking IVA and expressed my intention to continue to bank with them though he did not comment, he did not object. but to be on the safe side I have opened another account with adifferent bank.

I do owe money to this bank,over draft.

I have a meeting arranged by me,soon with the Manager to discuss the way forward with regsrd to continuation of existing account.

On my previous meetings I have pointed out the long term benifits to the bank.

Also has pointed out potential banking business from my children.

Hope the manager and the bank in question see the potentil benifits for the bank rather than taking a short term view.

hara.
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Adam Davies

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Post by Adam Davies » Sat Jul 21, 2007 2:37 pm
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Hi
It,s not obligatory for banks to close your account.My own,Lloyds,just pulled the overdraft and left the account open when my IVA was agreed.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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