Unable to open bank account after IVA

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Happy88
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by Happy88 » Wed Jun 07, 2017 8:40 am
Hi

I finished IVA last year April, tried opening an account for my son a few months ago but was rejected and I tried opening a normal current account with my current cashminder coop account but refused too. All my credit file is now excellent. I wonder what to do!
Thanks.
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Lisa Thomas
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by Lisa Thomas » Wed Jun 07, 2017 9:12 am
Have you checked all 3 mainstream credit check providers?

Has it been 6 years since the start of your IVA?
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Ryan
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by Ryan » Wed Jun 07, 2017 9:38 am
As Lisa says its worth checking Experian, Equifax and Noddle individually to make sure everything has come off all 3 reports. Also worth checking the Insolvency Register if you haven't already done so.
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Lisa Thomas
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by Lisa Thomas » Wed Jun 07, 2017 9:40 am
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Lisa Thomas
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by Lisa Thomas » Wed Jun 07, 2017 9:41 am
You might find this quick video I made about cleaning up your credit record useful:

https://www.youtube.com/watch?v=PV4RzUY4BRM

Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/
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Foggy
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by Foggy » Wed Jun 07, 2017 10:20 am
Get a statutory report from each of the three agencies at £2 a time, do not rely on the online subscription reports. Check for Notices of Correction --- these are sometimes put on referring to the completion of the IVA, but don't then get taken off when the IVA drops off.

I had cashminder accounts during my IVA and was upgraded with the Co-Op soon after my credit files cleared.
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Happy88
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by Happy88 » Thu Jun 08, 2017 7:04 am
I have checked all 3 credit report and they were fine.
When you say notice of corrections, is it the credit alerts?
And also, Halifax which was my husband old current account and also our creditors during IVA still send us account statement and a new current account card. Do you think we can still use them?
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Foggy
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by Foggy » Thu Jun 08, 2017 7:12 am
Happy88 wrote:
I have checked all 3 credit report and they were fine.
When you say notice of corrections, is it the credit alerts?
And also, Halifax which was my husband old current account and also our creditors during IVA still send us account statement and a new current account card. Do you think we can still use them?



No, a Notice of Correction is on the actual report --- credit alerts relate to nothing the creditors see, but to the subscription services the agencies offer.

Halifax were my pre- IVA bank and a creditor --- the account lay dormant during my IVA and I did use it briefly afterwards with no issues. But, to be honest, thinking I was just being lucky and probably on thin ice I didn't use it for long !
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