i was advised to switch to another bank

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
Post Reply
 
 

patricia.30

User avatar
Posts: 6
Joined: Thu Jul 22, 2010 5:04 pm
Post by patricia.30 » Thu Jul 22, 2010 5:04 pm
Quote
i was advised to switch to another bank before entering into an iva, what is your take on this
Top
 
 

dw1983

User avatar
Posts: 220
Joined: Thu Jun 03, 2010 7:54 pm
Location: United Kingdom
Post by dw1983 » Thu Jul 22, 2010 5:08 pm
Quote
Hi and welcome to the forum if you have any credit with your current bank then you will need to switch to a different bank account as your bank could take the money from your account to pay towards your credit
Iva completed
Top
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:
Post by Shining » Thu Jul 22, 2010 5:11 pm
Quote
HI Patricia and welcome to the forum, that was good advice as if you have any debt with your bank or they're not IVA sympathetic then money deposited can be offset against your debt and some banks are known to close down accounts when the account holder is in an IVA.

Co-op Cashminder is highly recommended as a basic account on the forum. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Top
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:
Post by Michael Peoples » Thu Jul 22, 2010 8:53 pm
Quote
If you move bank straight away before your credit file is damaged you could get a better account than just a basic one. I have clients who have switched to Santander and got £100 for doing so.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
Top
Post Reply
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”