Credit card debts

enthusiasticsaver

Looking4silverlining said:

Good morning all.
I have just applied for a Starling bank account and a CO OP account so fingers crossed. I just have a couple of questions for you all.
Do you know if a Bounceback loan can be defaulted on too? I wasn't sure if I could add this one in as its a government type loan.
Who should I approach to help me with the DMP once the defaults have gone through (I am self employed) ?
Thanks in advance.

As I understand it bounce back loans are done through a lender but with a government guarantee and if you default then the guarantee no longer applies.  Surely it then just becomes an unsecured loan through the lender?  It might be worth checking the initial contract to see what it says about default. 

Looking4silverlining

Good morning all. 
I have just applied for a Starling bank account and a CO OP account so fingers crossed. I just have a couple of questions for you all.
Do you know if a Bounceback loan can be defaulted on too? I wasn't sure if I could add this one in as its a government type loan.
Who should I approach to help me with the DMP once the defaults have gone through (I am self employed) ?

Also.....Ive just noticed, it might be hard to open a bank account with a bad credit rating!!!! How do we get round this??
Thanks in advance.

RAS

Did you apply for basic bank accounts? There is no credit check on them, but you get a debit card and can set up DDs. 

Looking4silverlining

RAS said:

Did you apply for basic bank accounts? There is no credit check on them, but you get a debit card and can set up DDs. 

Yes I did. No overdraft etc

Looking4silverlining

Oh for gods sake..... Co Op have refused me an account... What am I supposed to do if I can't open a simple bank account???

Floss

Try Monzo...

stu12345_2

my credit file is very poor,   so is my wife's, we got the bottom of the range accounts with nationwide( flex basic) and Lloyds,no overdraft, but contactless card.

when you apply for nationwide, it will ask do you have a current account, if yes, it automatically applies you for a higher account, then if you fail, which I did, it then reverts back to offering you a flex basic.

this might be the same system with other banks, do you have a current account at present 

Looking4silverlining

stu12345_2 said:

my credit file is very poor,   so is my wife's, we got the bottom of the range accounts with nationwide( flex basic) and Lloyds,no overdraft, but contactless card.

when you apply for nationwide, it will ask do you have a current account, if yes, it automatically applies you for a higher account, then if you fail, which I did, it then reverts back to offering you a flex basic.

this might be the same system with other banks, do you have a current account at present 

I have other bank accounts but didn't mention them. It was a standard account, is that the same as basic? It was the lowest one I could see on there. Should I tell then the numbers for my other accounts???

Looking4silverlining

RAS said:

Did you apply for basic bank accounts? There is no credit check on them, but you get a debit card and can set up DDs. 

Oh Im not sure now.... It was a standard account, is that a basic one? It was the lowest I could see.

stu12345_2

the lowest accounts are for folk that don't have  current accounts with other banks , or fail to be accepted  for a new current account with new bank
cos in my belief, you can't go for the Lowest account , eg a basic one until you fail for a current account with new bank. or you don't own current accounts elsewhere 
that's what nationwide did to me.

their first question when I applied for the basic flex basic, was, do you have a current account with any other bank. I ticked yes, it stated  I'm not eligible for flex basic, but instead then run an application for one of their current accounts, which I failed, it then said good news, we can offer you a flex basic account