yesterday we where accepted for iva

[lyn.t]

yesterday we where accepted for iva.
big problem is i cant get another bank account.just been to natwest and they said no.as with haveing iva my credid rateing is bad

[Sadsack]

Hi lyn.t

There are other banks out there who will give you a bank account. Try not to approach any of the banks who are your creditors.

These are a few who are happy to help:

Nationwide
Co-op
Royal Bank of Scotland

As you know these will be basic bank accounts and there will be no overdraft, credit cards etc. You will be able to set up direct debits, standing orders and internet banking.

Hope this helps
Sue



Ho Hum! Think I'll bang my drum!

[MelanieGiles]

Can I advise all people who are in the process of proposing IVAs to ensure that they have their new banking arrangements in place before the IVA has been accepted and not to tempt fate to wait until the day of the creditors meeting or afterwards.

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

[JoeB]

We are just at the point when interim order is going to be sent - can anybody tell me should I carry on trying to pay my creditors? - should I try and talk to them to see if they will settle for lower payments for the time being. What detail will they require in terms of bank accounts we have two joint accounts - only one is affected as it has a large overdraft 10k - can we carry on with the other one (that bank is not a creditor) and will we have to supply any bank statments from it?

[MelanieGiles]

Please go with your own IP's advice on this. Can I ask why they are applying for an Interim Order? This has not been necessary since 2003 unless there is an impending threat of creditor action such as a charging order or bankruptcy petition.

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

[steve532]

Hi.
I went to Lloyds TSB and told them I needed a bank account and was upfront about my IVA. No problem got a classic account with debit card and Internet banking. But I do advise dont apply online be brave make an appointment and speak to the bank in person.
Be Lucky

steve

[iva experts]

Hello lyn.t and Welcome to the Forum,

I’m not sure who your creditors are but other basic accounts that you can try are as follows:

- Nationwide, Flex Account
- Abbey, Cash Card
- Barclays, Card Cash

There are other accounts you can apply for such as:
- Co-operative Bank, Cash minder Account
- Think Banking and
- George Pennington does an account through Royal Bank of Scotland.

However, as far as I am aware these last 3 options will all charge account keeping fees.

Sue makes a good point remember that you cannot have a credit facility on your new bank account.

Best of luck and please post to let us know how you got along.

Best Regards. IVA Experts

[Adam Davies]

Hi
Just to add that you WILL be accepted by Think Banking and they are good,I personally have their account.
log onto the website www.thinkbanking.co.uk

Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp