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IVA accepted yesterday - current account probs?
poulterfan
Posts: 7 Forumite
in IVA & DRO
Wife had an IVA accepted yesterday - meeting was earlier than expected.
She has a Lloyds overdraft and a Barclays account but Barclaycard debts. She tried to open a Co-op basic account nearly 3 weeks ago, and handed in her details to the bank in person, but apparently there has been a problems, and they have no record of her application in head office. Now she will have no current account, as I suppose Barclays and Lloyds will close her accounts. Will the Co-op accept her as a new customer with a current IVA? I know they wont as a BR.
What are her options for a bank account?
We did try to plan this better, but didn't want to postpone the creditors meeting, and only chased up the Co-op a few days ago.
She has a Lloyds overdraft and a Barclays account but Barclaycard debts. She tried to open a Co-op basic account nearly 3 weeks ago, and handed in her details to the bank in person, but apparently there has been a problems, and they have no record of her application in head office. Now she will have no current account, as I suppose Barclays and Lloyds will close her accounts. Will the Co-op accept her as a new customer with a current IVA? I know they wont as a BR.
What are her options for a bank account?
We did try to plan this better, but didn't want to postpone the creditors meeting, and only chased up the Co-op a few days ago.
0
Comments
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Bottom line is she needs to open a non-linked bank account ASAP - and importantly BEFORE her details are on the insolvency register.
She might be able to do as I did - open a full current account with a non-creditor institution now (less overdraft of course). Best not to reveal that you are considering an IVA though (no requirement to volunteer such information).
I opened a full current account with CoOp online after my creditors meeting (the date at which my IVA was put in place), but before I appeared on the insolvency register.
Once you are on the insolvency register, you will probably only be limited to a handful of basic accounts.0 -
Before she needs to open a cash card to start,make sure is none of the banks included on IVA.0
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