How do I find a current account with a bad credit history?

alphiebravocharlie

Since falling over the debt cliff around 6 years ago and struggling back up the mountain, I haven't had a current account. I'd like to once again belong to the human race - even if my earnings are small to non-existent at the moment. I haven't a clue if any bank will have me. Is it best to try the post office? Or will a credit union entertain someone with scrappy credit history, as I could now afford to start saving a little and possibly help others in the process?

Also, my other half actually earns a good wage, though most of it is currently still going towards paying debt off that the bank called-in when they realised we were struggling to pay 2 mortgages when our house-sale bombed (thanks for the help, Natwest, you took absolutely everything away from us - not least our self-esteem). My partner would like to leave this bank now and look for one that will recognise our attempts to clear our debts - even if we haven't attempted to repair our credit scoring yet - and help us look at ways of cheaply consolidating the debt we still have, and allow us a small overdraft etc. Does anyone have experience of an understanding bank/bank manager? Now that we have seen off the worst of the problem and can hold our heads up to some degree, I think we can work on reducing what we owe to zero and being in a good place again in a year or so.

Thanks in advance for any advice.

fermi

You should be able to get a 'basic' account without trouble.

See: http://www.moneysavingexpert.com/banking/basic-bank-accounts

Most come with internet/telephone banking and some sort of debit card now. Just not a cheque book.

Tixy

Do you have a basic bank account at the moment? Should be able to get one of those from any lender (ideally not with anyone you owe money to).

If you want an regular account with an overdraft then it will depend on what sort of things you've still got showing on your credit files.

neverbefore2011

I opened an account recently with LloydsTSB, I think it's called the Cash Account. You get no cheque book, and the debit card only works in LloydsTSB machines, but you can do everything else like sending money online and setting up direct debits. The brochure specifically states that the account is available to people with poor credit history, but not bankrupt. You can pay cash in at the Post Office

Angry_Bear

It sounds like a lot of the bad news will have already dropped off your credit file. I'd suggest getting a copy from all 3 CRAs - it might not be as grim as you think .

alphiebravocharlie

Thank you so much for the info. Sorry it took me so long to reply. I won't feel so bad now knowing that there are some accounts for people in the same position. With the state of the country, we may need a new banking company specifically geared to the customer with a bum credit profile!

fatbelly

Some Credit Unions also operate current accounts.