hubby doing iva (hopefully- awaiting the creditor meeting) and he has currently got ac's with debit cards with hsbc lloyds halifax and hsbc and lloyds r 2 creditors. he is going to close those 2 but dont owe halifax. before he started the iva prcess he opened an ac with natwest and i belive this to be a normal a/c. he wants to now have his pay going into that a/c.
does he have to now tell natwest that hes doing iva? or will they just close the account?
equally he may want to keep his Halifax account as well for sidelining the contigency money or whatever savings he can make from his allowances etc - we use two accounts - we set up standing orders to take the car costs (tax, insurance and maintenance) out each month - we then run our cars from that account so at the time of the tax renewal we have the money and don't panic as it isn't there !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !