Moving From A Basic Account.........

happychappy74

Hi All.

I finalised my IVA in July 2009 by way of a Full And Final Settlement, which means that it will still be showing on my credit files until until April 2012.

In preparation for the commencement of the IVA I opened a Cash Card Account with Nationwide, which has served me fine since then.

I have obtained my Credit Reports and am currently sorting out the weird and wonderful default dates that creditors appeared to have plucked from the air etc and generally having it put into a more acurate order etc.

I have commenced the Creditbuilder Card, opened a cheeky little JD Williams account and got a £250 limit Vanquish credit card. So I am trying to rebuild my standing at least, so I have had a busy few months.

I am now beginning to think about my bank account.......

What experiences have other people had with the different banks and building societies about moving back 'into the system'. I spoke to a member of staff at the front of a local Nationwide branch who said to leave trying to upgrade any accounts until the 6 year period has passed.

Is this right or have others moved banks to any more welcoming accounts????

Thanks for any help or guidance with this.

Charco_2

He's definitely right if your IVA was running the full five years. It would be a grey area however in your situation, there are pros and cons and it's up to you to make your own decision - just apply common sense!

Be very careful not to cause a negative to your record (if a bank turns you down, then others might too and your credit record will show that they have been searching through there - they leave foot prints!). Any bank you take on now will clearly see the IVA in your records and will obviously know this information for the duration of any accounts you hold with them...

Best just to take things slowly anyway, keep a clean record and have little action on it. Small positive steps like the £250 credit facility for internet shopping or holidays is good - provided you manage it properly and keep it up to date.

Good luck.

happychappy74

Cheers for that.

Pretty much the same as I was looking at it. Just wondering what others have experienced along the way.