Debt Management Plans and Lloyds TSB

MisterSpoon_2

Hi

First time here, long time reader and all that.

Simple question really. I'm just about to embark on a Debt Management Plan through CCCS. I have two debts with LTSB at the moment - one credit card which is about £14 a month minimum payment and a loan which is about £154 a month.

The problem is my current account is with LTSB. I know that they can take money to cover the debt if they want, but what are people's experiences? The Customer Support Unit at LTSB suggested they don't do it, but as I'm waiting on my paperwork to come through I'm wondering if I should apply for a basic bank account with Co-Op now in preparation....

Thanks in advance, as you were!

MisterSpoon.

Deep_In_Debt

Yes, apply for a basic bank account with another bank not related to Lloyds TSB.

MisterSpoon_2

Thanks, is that from experience or anecdote or just because that's the generally accepted advice?

Deep_In_Debt

I'm not with LTSB but generally the advice is to change bank account if you have debts with them so they don't help themselves to your money.

I have also read that LTSB are not the best to deal with whilst on a dmp - but as I say, I have no experience of them - just from what I have read.

Deep_In_Debt

I did change my bank account when I started my dmp although I didn't bank with LTSB as I say.

MisterSpoon_2

Thanks. I've put an application in for a new one.