IVA accepted yesterday - current account probs?

poulterfan

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.

UpToMyNeckInIt

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.

jani99

Before she needs to open a cash card to start,make sure is none of the banks included on IVA.