can Natwest take my current account off me?

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bristolbird

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Post by bristolbird » Sat Aug 14, 2010 2:03 pm
I have been reading this forum for the past few weeks and wish i found it before entering an iva. Anyway when we first started the iva process we were told to open a new account which we did with Natwest (not one of our creditors) and were luckily enough to open a current account. We were asked if we wanted an overdraft which we obviously declined. Anyway reading many posts on here and looking through my proposal it states i cannot obtain any credit over £500. To cut a long story short, due to unforseen cirmcumstances bit of a cashflow problem, i enquired with Natwest for a small overdraft and after going through the process i was told it flags up bankrupcty on my file and i was obviously declined. I said i am in an iva and left it at that. What i am now worried about is now Natwest know about my iva can they take my current account off me. I wasn't trying to defraud them, i honestly thought asking for a small overdraft was ok. Please help!
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Shining

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Post by Shining » Sat Aug 14, 2010 2:06 pm
Hi there, any credit without the approval of your IP is a no really, I would always contact your IP in the first instance if you have cashflow problems as they are there to help.

I doubt the Natwest will close your account, I'm with them and had no problems in the last 3 years, HSBC are known to close account but I'm sure you'll be fine with the Natwest and do have a chat with your IP if you're struggling won't you?

Hope things are easier now? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

bristolbird

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Post by bristolbird » Sat Aug 14, 2010 2:11 pm
Thanks for your quick response. So even though it has been flagged up with Natwest you don't think they will close my account. I don't owe them any money so can they just close our current account because we are in an iva? Sorry for all the questions, just really worried
Regards Emma
 
 

bristolbird

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Post by bristolbird » Sat Aug 14, 2010 2:13 pm
Oh and regarding the cashflow problem, a family member is helping us out, just wish i hadn't spoken to Natwest now....
Regards Emma
 
 

Shining

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Post by Shining » Sat Aug 14, 2010 2:13 pm
I don't think they would, it's not something I've heard of happening but obviously I couldn't say for definite. A lot of our posters within an IVA have the Step Account is that what you've got? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

bristolbird

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Post by bristolbird » Sat Aug 14, 2010 2:15 pm
sorry i am the orginal post, couldn't remember password so reregister on the forum. We actually have a current account with them
Regards Emma
 
 

Shining

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Post by Shining » Sat Aug 14, 2010 2:19 pm
It's not wrong to have a full account, I'm sure you're going to be fine, try not to worry although it's easy for me to say that sat here I do realise that. They'll be in touch if they need to be but again I'm sure it's all going to be fine, keep in touch with the forum as we're here to support and advise all and your experience is sure to help another poster xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Sat Aug 14, 2010 6:46 pm
I don't think you will have a problem either. I've not heard of Natwest closing accounts.
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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.
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