Lloyds TSB After bankruptcy

pepsi662400

Hi everyone.

I was declared bankrupt in July 2009 and received my discharge in July 2010. I am currently sorting out my credit file (90% complete :j) but I have a question to ask.

Has anyone been able to get a Lloyds TSB Bank account after discharge? I have moved away from my local branch of nationwide and the nearest bank is Lloyds - which in itself is 6 miles away (i now live in the sticks!). I fully realise there is on-line banking, but I like going into the bank and discussing a banking matter with them face to face instead of over the phone or on the web.

Now, this is where I am cheeky. I did apply just after my discharge - and as you have all guest I got declined. I don't intend to apply until I have my credit file sorted and built up my rating. Also Black Horse was a creditor £5000 of a £12,500 insolvency! Do I stand a chance or not?

Any views or advice welcome.

Pepsi662400

So_Sad_Angel

Hi Pepsi...good to hear from you again & congrats on your AD in July....gosh these years are flying by!

LTSB is a case of keep trying I`m afraid. They are very strict on the credit searches so the more time between BR & when you apply for the account the better.

Sorting your credit report will help but the BR marker stays on 6 years but don`t give up. I have heard of posters who got a LTSB after discharge but they had a good balance to start the account with.

If you are out in the sticks then the Co-op have the Post Office for transactional banking as do Barclays.

Savapenny

Hi pepsi, if you have a look at Lloyds TSB cash account, it says even if you haven't got a good credit rating, they may still be able to offer you this account, as long as you're not in undischarged bankruptcy, or suspected of fraud. Have a look at cash account on Lloyds TSB website, hope this helps and good luck with everything.

WLITC

Savapenny wrote: »

Hi pepsi, if you have a look at Lloyds TSB cash account, it says even if you haven't got a good credit rating, they may still be able to offer you this account, as long as you're not in undischarged bankruptcy, or suspected of fraud. Have a look at cash account on Lloyds TSB website, hope this helps and good luck with everything.

Interesting, I've just looked at the Lloyds TSB Cash account and it states that "We can still open an account for you if you have a poor credit history. But, if your credit reference agency file shows that you have a history of fraud or are an undischarged bankrupt, we
won’t be able to accept your application." so it certainly sounds like the type of account that discharged BR's should be able to get. However, on reading what you DON'T get with this account it states :-

Here are some of the features you won’t find with the Cash Account:

• Planned Overdrafts.
• Cheque books.
• Being able to use your Visa debit card at cash machines that do not belong
to Lloyds TSB in the UK and abroad.

Now the first two are standard and on par with Coop and Barclays, but the third is pretty restrictive. Basically, if I'm reading it right, you can only use Lloyds cashpoints. If this is indeed the case then I wouldn't really recommend this account. I'm an ex-Lloyds customer and post BR I was thinking I'd like to eventually re-open an account with them, but if this is the only account I could get then I won't be bothering.

andyf1980

That's ridiculous about the cash machines if that's the case!

confused76

i applied for the basic lloyds account (recently discharged) and received a letter saying i had been credit searched and turned down. the way the account is presented online, i was expecting to be credit searched. i am going to go into a branch with my discharge letter and see if i can get it accepted. otherwise i'll go to barclays

plumber2009

I am currently still bankrupt (4mths) and lloyds have not closed my account down. The OR sent a letter to ltsb to inform them i was br. I am currently using this as my main current account.

I have opened a co-op cash account back in september just incase ltsb decide to close it because it is a full current account. (silver account)

blondee55

plumber2009 wrote: »

I am currently still bankrupt (4mths) and lloyds have not closed my account down. The OR sent a letter to ltsb to inform them i was br. I am currently using this as my main current account.

I have opened a co-op cash account back in september just incase ltsb decide to close it because it is a full current account. (silver account)

This account now belongs to the OR and you should not be using it really

BB&B

This topic raised a couple of issues for me.

Firstly if the OR has issued a 'No Interest' form to the bank for any declared accounts, then it is up to the bank if the remains open or not. If a 'No Interest' has been issued then the OR does not own the account, and providing the bank is happy with a bankrupt using the account, then this is NOT a problem. But a word of caution here, with the exception of Barclay's and the Co-op ALL other banks can and do invoke their No Insolvent Clauses.

Secondly Lloyds routinely turn down former bankrupts until the bankruptcy has dropped of the CRF, as a bankruptcy will automatically ensure you fail their Credit Scoring. This has been challenged but backed by the Ombudsman.

Hope this sort of tidies this thread a bit

Tim

pepsi662400

Savapenny wrote: »

Hi pepsi, if you have a look at Lloyds TSB cash account, it says even if you haven't got a good credit rating, they may still be able to offer you this account, as long as you're not in undischarged bankruptcy, or suspected of fraud. Have a look at cash account on Lloyds TSB website, hope this helps and good luck with everything.

Hi! I have had a look and rather dimly applied after I was discharge and surprise surprise i got refused. However now I am cleaning my credit file up and I have got my credit score to a sort of respectful top of poor standard(!) I am hoping to apply in the next six months to a year. Thanks for the help. Does anyone have an account with Lloyds TSB - Cashcard Account

pepsi662400

confused76 wrote: »

i applied for the basic lloyds account (recently discharged) and received a letter saying i had been credit searched and turned down. the way the account is presented online, i was expecting to be credit searched. i am going to go into a branch with my discharge letter and see if i can get it accepted. otherwise i'll go to barclays

Hi, Let us know how you get on!