Banks and Creditors - Rules

clare1809

Hi everyone

I created a new bank account with my current bank in order to start trying to pay off creditors. However I am just wondering if the bank will give out this new account to my creditors (mainly payday loans)?

Obviously dont want this to happen and want to try setting up standing orders to my creditors.

Any advice welcome!

nottoolate

they wouldnt be allowed to without your permission

Tixy

Are both bank accounts with the same bank?

They could pay the paydayloan request from your old account (taking you into an overdraft), and then offset funds from new account to old account.

You need a new bank account not connected to anyone you owe money to, and not connected to the same bank that the pdl companies are try to raid.

stuckinadebtrut

I have an account with Halifax and opened a new one, will Halifax let them take money and provide the new account/card details if I don't??

happycamel_2

As Tixy says, hold your new account with an unrelated bank. Co Op are a good one. Get a basic account with no overdraft facility