Post IVA issues

garytheanimal

I'm more than happy to tell you all i've completed my IVA in January.....BUT (theres always a but) i went to my bank to get a current account yesterday and was told i was declined, i didn't know i'd be credit checked to give them my money?
The account i have at the moment doesn't have a visa debit card with it, a cheque book or overdraft facility, i've waited 5 years for a normal account!
I've taken out a Vanquis card and use it sensibly, especially at 40% interest rate, its hopefully helping to repair my credit rating, but not being able to get a current account cant be helping.

Does anyone know a bank that will not credit score me for allowing me to put my money into their bank? I'm currently with RBS but in the past i've upset Natwest, TSB and Barclays

Also i've been waiting since 1st February to hear from my IVA company but still no letter or certificate, and there was some confusion over my last payment being January or February, the payment schedule they gave me to give to my bank stated the last payment was the 1st January for 1p!!

To all the people currently in an IVA please dont feel it takes a long time, once you've passed the half way point it really does fly by, stick at it, dont miss any payments and the feeling you get at the end really is amazing, good luck.

timberflake

I've just had my F&F offer accepted so am at the end of my IVA too.

As I understand it, the IVA will stay on your credit profile for 6 years from the date the IVA commenced so you may have to wait another 12 months or so before your profile becomes "clean" again.

doelani

Hi Guys

Gary, you say you are with RBS and they declined you. How has you account been with them ? can you ask for them to reconsider it ?

Unfortunetly all banks with do credit checks for current accounts. We were with Halifax while in IVA and about 6 months after finishing it made appointment with local Ulsterbank , part of RBS group. We supplied them with letter to show IVA paid as we had still not recieved certificate of completion, and 6 months banks statemtns to show we had never went overdrawn or had charges and we were given 2 full current accounts. This was approved at branch level and they even gave us credit card's after a few months of having the current accounts with them. Make apointment with your local branch and ask can you appeal the decission if your account with them has been run ok and you can show your IVA has been finished. The one thing I would add is be upfront with whoever you apply to, we told them it may be declined as we had IVA so no shock in store when they checked our credit files. To be honest I still did not believe we had been approved until debit card and cheque book arrived lol

Hope you get sorted

raceylacey1972

Well done on completing your IVA :beer: being debt free is a great feeling.

I finished my IVA in January and wanted another bank account. Purely because I no longer wanted to bank with the organization that made me redundant (though I was lucky I was able to keep my debit card throughout my IVA for some reason)?

I went to Barclays and saw a really helpful lady. I told her my situation and she said that if they open an account in branch that will be credit scored and would most likely be declined. She completed a manual application from and sent it to their processing center, which I was advised wasn't credit scored if done that way?!!

I had a cash card account, which is a debit card, I didn't get a cheque book, but then I didn't want one anyway.

Maybe you could try Barclays.

Good luck

trudij

I had a letter from Nationwide on Saturday telling me that my flexaccount (cash only) card was changing to a debit card - maybe try them if its a card you are after ??

thegrimreaper

i am again with barclays as the person above is and i have a debit card, still no overdraft though but thats a good thing for me, may be worth trying them

sharalee99

It can take 3 months or so for you to get your paperwork after completing your IVA.
I spoke to my trustee last week who informed me of this.
If you are not sure when your last payment was/is, just give them a call!

garytheanimal

Thanks for all the replies to my posting, i'll give it until the end of this month then start chasing them again i think.
I joined Credit Expert a couple of weeks ago and i've started to 'mend' my credit rating, so i really need to get a letter from the IVA company, they tell me they can update my credit file as soon as they get a copy of the letter and that i dont have to wait a year for it to clear?

nolongerinthered

I am currently in year 4 of my iva. Having had an alliance & leicester account since before i enetered my IVA, i have had some tough dealings with them and wanted to change. I applied to the Abbey for their current account which includes a chequebook, and visa debit card and was approved. My account was opened and 1 month later they even deposited £100 in it to say thanks for opening with them. All the while my IVA is still running!

Not_so_wise_one

Try the Co-op they accepted me for the cashminder account within a month of me finishing my IVA late last year. Get a Visa Debit card etc with it.

garytheanimal

Got it! received my letter and certificate yesterday, all done, finished and its all over.

Thanks again for the replies, seceral people have mentioned the Cashminder account with the co-op but with a mortgage hopefully on the horizon soon the Alliance and Leicester might be a good choice, especially if they're going to give me 100 quid for doing it, lol.