I have been looking on this forum for a couple of weeks now as my husband and I took the decision and then the plunge into seeking an IVA. My question is probably a very old one that has been asked many times but we are really struggling with getting a new basic bank account as 1) we have a large number of creditors so our options are limited and 2) my husband has a large amount of your debt in his name and hence has a very poor credit score. Mine (without linking to him) is still classed as good. However, we have been declined by Halifax and Yorkshire Bank have just advised me that they now perform a full credit search even for a basic account. We didn't want to go down the route of no-credit search banking but we need an account his wage can be paid into and direct debits out of and if his name isn't on the account, just mine, the lady at the YB said this would be an issue.
I'm with the Natwest and can recommend them, a lot of posters on the forum use the Co-op and are more than happy with them, hope you get your account soon and let us know won't you? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
thanks all. Unfortunately I have a SMILE account which is Co-op and we do our main banking with Natwest. The Halifax have said they will have a look at our credit reports in branch and see what they can do. If not, looks like we will have to look at Thinkbanking of CardOne which is annoying as I didn't want to have to pay a fee.
Hi bigtrouble - as Skippy suggests - try Abbey or Natiowide if you haven't as they each have suitable basic bank accounts. The creditors don't look too favourably on bank accounts requiring fees as it means less money can be going into your IVA! Of course if that is your only option then it is all you can do.
Hope you get something sorted. I assume you are all sorted with proceeding with an IVA and this is just an outstanding task. Best wishes with it all - keep us posted on how you are getting on.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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I had a good credit rating when I opened the Nationwide account but they would only give me the basic account.
Helen, in case you wonder why I edited your post, it was to get rid of the asterisks as the site had censored you!
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
Doing some more research (very early in the morning - financial difficulties not good for quality of sleep!) and have just come across Lloyds TSB (not a creditor) who say they will still open an account even with a poor credit history so am going to give them a try. Thanks again all
Fingers crossed bigtrouble. Let us know how you get on.
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
We got approved for a Lloyds TSB account (with benefits which was unexpected) despite having been honest about credit rating. Was slightly concerned by the overdraft facility which comes with it automatically but plan to remove this as soon as possible obviously. Phew - just a few more massive hurdles now.
