Savings advice

darkelf

Hello all !:cheesy:

My question is this....
I have started saving and want the best return for my money as my current isa has a poor rate.
I am wondering if you can safely get a good isa account with a bank that you had defaulted with a while ago even though the debt was passed on to another agency for recovery.
(i am still paying off the debts with no interest)

thanks for any help.:beer:

catfriend_2

I dont know what the legal position is on this - but I would have thought it would be taking a risk - even if the debt had been passed on to a credit agency wouldnt the bank keep a list of bad creditors? Presumably as there is still money outstanding this debt would also affect your credit rating?
In which case wouldnt it seem strange that you were saving money with them having previously owed them money? I suppose it also depends on what you mean by 'a while ago'. Personally I am still paying off a personal loan to A&L on an interest free basis and would not dream of taking out an ISA or any other form of saving with them until that has been paid in full.
As it is I have managed to keep knowledge of my savings and my debts totally apart from each other and frankly thats the way I like it .
There are plenty of ISA options on the internet surely you dont need to rely on the same bank for the best deal - there must be other ISAs just as good out there?

opinions4u

Steer well clear would be my advice!

darkelf

thanks , i thought it might be unwise ,......good site this one.