Bank switching with DMP / IVA

friolento Forumite Posts: 357
100 Posts Name Dropper Photogenic
Has anyone been able to open current accounts for switching offers whilst they were on a DMP or IVA? 


  • sourcrates
    sourcrates Forumite, Ambassador Posts: 27,657
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You won`t get a normal current account whilst you are an insolvent.

    The same applies to debt management, as its likely you will have defaults on your credit file.

    What you should be able to open is a basic bank account, which are specifically designed for those who cannot get a regular current account.

    Most banks offer you one automatically if you are declined for a current account, but some banks are more debt friendly than others.
    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 [email protected]. 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- The "provit letter" is here-
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