Declined CO OP ISA after Br discharge 3 years ago :(

divalou

Hi!
I was declared bankrupt in 2009 and discharged the following year in 2010.
I applied for that cash plus credit builder and have gone through it twice so I thought it would be pretty safe to apply for an ISA through the co-op who I've banked with since being declared bankrupt.
Depressingly, I was declined
I don't know how else to go about rebuilding my credit as I've already had high interest credit cards before bankruptcy so don't want to get declined again.
I'm also self employed so not sure if that makes any difference.
Any tips for rebuilding? Is it worth challenging the decision to decline me?

Thanks in advance

Lou xxxx

IF

Lou have you cleaned up your credit files yet? See fermi's sticky, click on the link below

-- > Credit Reference File Clean Up Post Bankruptcy

Best wishes
IF

AndyBSG

I'm not sure why you would be declined for an ISA because it isn't a credit account?

Seems very silly for banks to be applying credit checks to savings accounts!

philnicandevan

Hmm could as well be co-op being arsey...I applied a while back for a new account savings and ISA (being nearly 7yrs from bankruptcy now) they refused me everything...made me go through so many hoops in the end natwest offered me everything their loss..

dancingfairy

sounds weird to me. I can't see why they would turn you down for a savings account unless you have ID problems or there's a fraud issue or something. Maybe the coop have weird rules? Maybe try somewhere else?
df

luvchocolate

Hi I have a cashminder account with co op, I was discharged in August this year the co op turned me down for any kind of savings account, but they were happy to open a Brittania isa.....I had quite an indepth meeting with them to get that ....as said its crazy...other peeps on here have used credit union if you have a local one maybe worth a try

philnicandevan

dancingfairy wrote: »

sounds weird to me. I can't see why they would turn you down for a savings account unless you have ID problems or there's a fraud issue or something. Maybe the coop have weird rules? Maybe try somewhere else?
df

coop seem the only ones that do credit check for savings...they seem to think us bankrupts (and ex) have hidden cash to stash away

many more will no questions asked though..vote with your feet

jayk

I was discharged from Br Feb 2013. Have cash minder account with Co-op bank. Last week requested to open savings account and an ISA. Offered 2 savings account with Brittania and Smart Saver with Co-op.

Was informed not able to have an ISA for 6 years from date of BR told that it was a rule they and other have. Not tried anywhere else yet re ISA.

It is hard when you are trying to make a fresh start, however in fairness to Co-op they did allow me to pay monthly on car insurance which was a hugh help.

Wish you luck getting an ISA if you do perhaps you could post details.

Jayk

TheGardener

As a huge fan of CU's (Cant believe I didn't find them before BR) If you don't have access to a works or local credit union - it looks like there is now an option with a UK wide version (with a canny way round the 'mutual link' requirement - who doesn't love a curry!?) . They will be launching a cash ISA in spring and the interest rates are not too shabby either!
http://www.moneysavingexpert.com/news/loans/2013/11/uk-wide-credit-union-launches-with-table-topping-savings-rates

Lots of work places have them, NHS, Police, Fire Brigade etc and most cities have at least one.

I really hope the credit union craze spreads - give the High Street chaps a run for their money...:D

luvchocolate

I was turned down with the co op at the counter when I asked about an isa, so I made appointment with them and an adviser who I gave all br info to set me up with an isa with Brittania. It would seem they have flexibility in their system.
I would made an appointment and take it from there.

divalou

Thanks for the info guys!
I will check my credit file & then maybe go and have a meeting. Weird that you got a Britannia ISA but not co-op!
Seems mad that I've been with them for years so they can see I have a regular income.
Oh well

Thanks again!!

Xx