Should I Close My Bank Of Scotland Current Account

OA234

Hello everyone,

Please, can I get your advise about the decision I am about to make / considering ?

So, in Dec, 6, 2019, I had an IVA. I settled the IVA early (March, 2025). 

The IVA has now ended.

My current account with Bank Of Scotland was part of the IVA.

I tried gaining access to the account. So, I went to the local branch of the bank.

The lady I spoke to was very helpful. 

She could open the account. But I needed to bring my passport in. She mentioned that the account was involved in an IVA. 

The IVA had dropped off by then (a few days ago).

I didn't expect the IVA history to still be recorded (after 6 years) - by the bank. Could this potentially affect my relationship with the bank & the sister banks (under the Lloyds umbrella) ?

Also, pls, I am considering closing the account & may be opening another current account (with the bank) later on. 

Is it worth trying to open bank accounts with Lloyds & Halifax (Halifax account was part of my IVA too); considering that they are part of the same group ?

I intend to get personal loans from Bank Of Scotland, or the other banks under the Lloyds family.

That is why I am considering closing & re-opening the accounts. However, I am not sure if the bank(s) will take my IVA history into consideration, please.

itsthelittlethings

Is it wise to be getting personal loans if you’ve previously had an issue with debt?

Isthisforreal99

You would be best moving your banking elsewhere especially if you are seeeking a loan. Closing and trying to open new accounts will not help - banks are permitted to keep internal records of IVA's etc for longer periods than they show on your credit report. So the whole Lloyds banking group will be aware.

OA234

@Isthisforreal99.... Very interesting, indeed.. Thank you for your prompt response as well.. 

Do you think, if I build up a positive history - of repaying personal loans with other lenders, banks in the Lloyds group will be open to issuing personal loans to me; in the future - given my positive payment history ?

Thank you very, very much..

elsien

Why are you thinking about getting loans  at all though regardless of who the banking group is? 

Especially loans in the plural, when you’ve had the level of debt that has required an IVA which has only just ended? And I can see from your previous threads that someone else asked you the same question back in April. You said you planned  to be wiser which  on the face of it now doesn’t seem to be the case

I am also completely failing to understand why you would want to get loans from other banks on the off chance of this helping you to get another loan from Lloyds in the future?

Maegi

Why do you specifically want a personal loan from a single banking group? 

Isthisforreal99

OA234 said:

@Isthisforreal99.... Very interesting, indeed.. Thank you for your prompt response as well.. 

Do you think, if I build up a positive history - of repaying personal loans with other lenders, banks in the Lloyds group will be open to issuing personal loans to me; in the future - given my positive payment history ?

Thank you very, very much..

Were any Lloyds group debts included in the IVA. If so, would you lend to someone who you had to write off money from?

OA234

No, no Lloyds debt.. I totally agree.. I wouldn't... Thank you very much...