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IVA in need of Business Bank Account.
Hello,
I'm new to the forum! I've found myself in the following situation:
I'm 3 years into and IVA after amounting debts in my 20's.
I am a sole trader but have recently incorporated as a ltd company as I am receiving a grant from Arts Council England and want that money to be separate from my personal money.
The Arts Council however, need a PRA regulated, UK incorporated bank to pay into so my TIDE account was no good. I've been regected by Sterling and am waiting to hear from Natwest but am expecting a no.
So my question is can I add my wife to my business as a shareholder and improve the business credit score/use her credit score to open an account?
Thanks in advance
I'm new to the forum! I've found myself in the following situation:
I'm 3 years into and IVA after amounting debts in my 20's.
I am a sole trader but have recently incorporated as a ltd company as I am receiving a grant from Arts Council England and want that money to be separate from my personal money.
The Arts Council however, need a PRA regulated, UK incorporated bank to pay into so my TIDE account was no good. I've been regected by Sterling and am waiting to hear from Natwest but am expecting a no.
So my question is can I add my wife to my business as a shareholder and improve the business credit score/use her credit score to open an account?
Thanks in advance
0
Comments
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Business debtline will provide the answers you are looking for.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
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Did you manage to sort a bank account for your limited company as I'm in the same situation and would appreciate any help?
Thanks.0 -
Hello,
Unfortunately I did not. I paid off the rest of my IVA through a family gift, I am now awaiting the certificate which will then enable me to open a Natwest account.
Best0 -
Natwest used to do a business account for people with poor credit ratings. Might be worth asking them.0
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