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Bank account after DRO
My son has been to the CAB who has set in motion the route to a DRO. (Does a look up on experien alert the creditors, as we have had a sudden influx of letters for him and even one visit - though he has not lived here for over 2 years).
What I wondered is, if the DRO goes through, how on earth do you get a bank account afterwards? He has had a Nationwide account since he was a child, but he must be overdrawn there as the caller at our door was from Nationwide.
What I wondered is, if the DRO goes through, how on earth do you get a bank account afterwards? He has had a Nationwide account since he was a child, but he must be overdrawn there as the caller at our door was from Nationwide.
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Open a basic/cash account that has no overdraft facility, no cheque book.
I am with lloyds, have had the cash account for about 4 years, I am in a DRO now and still have this account, this account wasn't included in my DRO as I had no debt to them as it's impossible to get into debt with it!
I have a visa debit card, online banking, direct debits etc the only downside is i can only use lloyds cash points but hey stops me withdrawing money! lol:jEngaged 25/12/11 :j
:smileyheaMarried the man of her dreams and became Mrs M on 26th April 2013 :smileyhea0 -
A credit reference agency check will link his current details to his old ones, allowing creditors to search and find his new ones, or receive an alert to the new details.
He can get a new bank account. Barclays and Co-op offer a BASIC account that even people in bankruptcy can get. Make sure it is the BASIC account that is applied for though.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
IF, the amount owed to the bank is minimal and he paid it up, would that be ok with view to getting the DRO?
I guess the CAB search must have alerted the creditors then - we thought it was a bit of a coincidence that so much happened within a few days.0 -
There can't be a preference to a creditor! So if payments are made to creditors they need to be made equally across them taking into account the amount owed to each of them:jEngaged 25/12/11 :j
:smileyheaMarried the man of her dreams and became Mrs M on 26th April 2013 :smileyhea0 -
Many thanks. Latest trauma is the g/f where he is staying has been given notice to leave the house in 2 months. Honestly, it doesnt end does it.0
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It's an obvious point, but he must make sure his new bank account is not connected to any of his debts.
And the best way to ensure he treats all creditors equally in the run-up to a DRO is to pay nothing to any of them! Just concentrate on paying towards the £90 fee on his barcode.0 -
Many thanks, still waiting for the Experian password?0
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