We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
changing banks DRO
Options
twilightkate
Posts: 17 Forumite
in IVA & DRO
Hello, (new member first post) :wave:
does anybody know
i should be changing my banks now i have sent off the forms for a dro. i am moving from lloyds to natwest, how will i change my benifit and wages to go to my new bank? will i call the bank or will i need to call the DWP and my hr team to change this infomation?
and when sending my money to one bank to the other do i send the money including or excluding my £300 overdraft?
i will look forward to any replies
does anybody know
i should be changing my banks now i have sent off the forms for a dro. i am moving from lloyds to natwest, how will i change my benifit and wages to go to my new bank? will i call the bank or will i need to call the DWP and my hr team to change this infomation?
and when sending my money to one bank to the other do i send the money including or excluding my £300 overdraft?
i will look forward to any replies
I am not my illness, My illness is part of me.
0
Comments
-
alot of views no replies, wondering if its because im new or have i posted in the wrong place...I am not my illness, My illness is part of me.0
-
You need to call dwp and your payroll department to change the details.0
-
And you can’t transfer a £300 overdraught as I’m assuming that will be included in your debt relief order.
It worries me slightly you asking a question like this, that you may not fully understand the implications of a DRO.
Your new account should be a basic account, with no OD facility.
If you open a normal current account, then go insolvent, the bank could close it.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Hi thanks for the replies.
Sourcrates: I mean the balance on my lloyds card. Example I have £200 cash £500 including overdraft. The new account does not have a overdraft.I am not my illness, My illness is part of me.0 -
I'd move over as much as you can, providing your debt total is not near £20000, and your 'cash' is not getting near £1000.
Make sure you understand the rules and regs. This is an OK guide
https://www.nationaldebtline.org/EW/factsheets/Pages/debtrelieforders/droadvice.aspx0 -
Thank you fat belly!I am not my illness, My illness is part of me.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards