Debt Payment Plan

DEBAW

I am currently in a payment plan (not an IVA or DRO, I don’t think) and I’m making regular monthly payments.  I have recently become a director of a small limited company and want to know whether my personal debt could impact being able to open a company business account although I am not the owner and not a shareholder?

sammyjammy

It will definitely have impacted on your credit report in a negative way,  I don't think anyone can tell you whether it will impact your ability to get an account, i guess it depends whether they credit check and what the requirements are.

sourcrates

DEBAW said:

I am currently in a payment plan (not an IVA or DRO, I don’t think) 

It worries me that you don`t know which debt solution you have opted for, it shows a potential lack of understanding about your overall situation.

Is this an informal arrangement ?, with a debt charity (free) or a private debt management company (fee charging) ?

Where did you go for debt advice, and what debts do you have, and how much ?

Have you specifically asked about a DRO or IVA ?

What information is recorded in the "public information section" of your credit file, anything ?