Can I get a bank account now my IVA has finished?

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qucharski

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Post by qucharski » Wed Jul 31, 2019 1:05 pm
I have completed my IVA now and would like to open normal bank account. Do I really have to wait until 6 years passed or there are any banks that would accept me now with my IVA being marked as satisfied?

Foggy

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Post by Foggy » Wed Jul 31, 2019 1:34 pm
Most banks, apart from HSBC and First Direct should offer you a basic account and most will probably not extend a full account until the 6 years has passed and your credit record has cleared up. I would suggest going in branch and asking, rather than submitting applications and getting a refusal placed on your credit files after a failed search.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

qucharski

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Post by qucharski » Wed Jul 31, 2019 3:52 pm
That's what I thought but I've hoped someone had similar experience and they were able to open normal account not basic before 6 years is over. Never mind I'm not that desperate.

Kind regards

Adrian

kallis3

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Post by kallis3 » Wed Jul 31, 2019 4:23 pm
When is your six years up?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

qucharski

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Post by qucharski » Wed Jul 31, 2019 5:01 pm
Wed Jul 31, 2019 4:23 pmkallis3 wrote:
When is your six years up?
In April 2020 so not too bad :)

Tashie08

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Post by Tashie08 » Wed Jul 31, 2019 5:19 pm
I finished my Iva last September and since have opened a current account with Nat West. All way through my Iva I banked with HSBC (basic account)

kallis3

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Post by kallis3 » Wed Jul 31, 2019 5:39 pm
You were lucky to be able to keep a bank account with HSBC Tashie!

Once your IVA is finished qucharski you will need to keep checking your credit record and don't forget you will still be on the Insolvency Register for up to 3 months from the date you get your completion letter and the same on your credit record.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

qucharski

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Post by qucharski » Wed Jul 31, 2019 6:38 pm
Thanks everyone. I will probably wait. It's not like it makes much difference between good basic account other then overdraft which to be honest I want to stay away from forever haha

Tashie08

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Post by Tashie08 » Wed Jul 31, 2019 7:21 pm
Kallis3..... I’ve heard that before about HSBC but not sure why as never an issue for me.... next week marks 6 years from the start date of my Iva so looking forward to it disappearing forever from my credit files

Foggy

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Post by Foggy » Wed Jul 31, 2019 7:59 pm
Wed Jul 31, 2019 7:21 pmTashie08 wrote:
Kallis3..... I’ve heard that before about HSBC but not sure why as never an issue for me.... next week marks 6 years from the start date of my Iva so looking forward to it disappearing forever from my credit files
We have had many posts in the past about HSBC closing accounts with little or no notice when they realise the account holder is in an IVA, whether or not they are creditors of the arrangement.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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