DMP and business account

HHH_2

I am on a DMP with CCCS 4 months in and all is well. I have a new basic bank account with Coop and am in dispute with LLoyds ( isnt everyone??!) over a mis sold loan. Lloyds have offered me just under £16,500 to settle but I havent accepted this yet as it is all made up of interest and PPI, anyway to get to the point my partner and I are in the process of starting a new business BUT I am sure no one will touch me for a business bank account as my credit rating is very poor. I am desperate to make this business work but dont know how to go about getting an account. we wouldnt need an overdraft facility but obviously would need a cheque book. Any advice please?

tomterm8

Open a limited company. The limited company is legally seperate from you, and will have a independant credit history. Make your partner the director, if she has a good credit record OR nominate an independant third party. Think "Single member company"

horse

HHH wrote: »

I am on a DMP with CCCS 4 months in and all is well. I have a new basic bank account with Coop and am in dispute with LLoyds ( isnt everyone??!) over a mis sold loan. Lloyds have offered me just under £16,500 to settle but I havent accepted this yet as it is all made up of interest and PPI, anyway to get to the point my partner and I are in the process of starting a new business BUT I am sure no one will touch me for a business bank account as my credit rating is very poor. I am desperate to make this business work but dont know how to go about getting an account. we wouldnt need an overdraft facility but obviously would need a cheque book. Any advice please?

been on dmp for three month

set up business account last month with abbey, took a while as doing various checks but they let me open it

HHH_2

Did you already have an acount with Abbey? My partners bank HSBC turned us down flat as the computer said "No" Can I continue to be a director or even managing director if my name is not on the account?