Bank accounts/Overdraft Fears

Cherielabombe

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james32_uk

Why are you are having to open up only a basic bank account?

jonesMUFCforever

Are you in financial difficulty or do you have a regular monthly income to meet all your outgoings?
Really we need more information about your income and expenditure if we are to help you.

poppy_f1

few years back i had an abbey account with overdraft, i just stopped paying my salary into it, waitied on them contacting me and arranged a payment plan with them then
saying that i had previously contacted abbey to arrange this but was told that i would have to wait until it was up for review :rolleyes:
turned out i worked loads of overtime and just cleared it in the one go

Cherielabombe

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james32_uk

Re your new account, it doesnt have to be a basic account. Just make sure the bank has absolutely no connection with any of your current debts. (Payplan/CCCS should be able to give you a list of linked financial institutions). I opened a new account to get away from current creditors at Lloyds and got a debit card with no problem.

CLAPTON

based on the limited information supplied this is how is should happen

you open the new basic account
you get all your income paid into it
you make sure your essential priority debts are paid from your new account (i.e. mortgage, council tax, utility bills, water ...assuming any/all are paid by DD) but not your unsecured debt (i.e. unsecured loans, CCs)

you will (probably) not have full debit card but you may get a solo/electron card from some basic bank a/cs


you do not close your old bank account but as there is no money going into it now, it can be treated like any other of your creditors...presumably CCCS are advising you what to offer to pay each of them.

the bank, like all your other creditors will default your account. this will stay on your credit record for six years. none of them will be pleased and they might write you threatening letters or may phone you too...but i'm sure CCCS/Payplan have advised you of this but they will eventually accept your offer of smaller payments.