Help please! IVA & Bank Account

Meow

Hi,

I am applying for an IVA and have been told to open a new bank account first. I just need a basic account with a debit card, no overdraft. They reccomended the Co-op basic current account but they have turned me down.

Does anyone have any suggestions?

Thank you.

lisabell

Hi there i got my account with abbey just got a cash card no overdraft and they were great i did tell them of my financial situation i just have a basic account with them
Lisa

Meow

Thanks Lisa - I'll go and see them tommorow

10past6

Meow wrote: »

Does anyone have any suggestions?

Thank you.

Hi Meow

Who is your IVA with, and are you 100% certain an IVA IS RIGHT FOR YOU?

Tigger1983

Hi Meow...sorry, many questions lol. Who is your IVA with? Have they knocked much off the debt? Did you speak to the charities first?

We were looking at one and couldn't stomach the amount they were charging, firgured we were better paying off the whole. Going ok so far lol.

While we were looking I opened a natwest STEP account...you have to make sure there is no overdraft and no credit card linked otherwise you won't get it with a bad credit rating.

Tig x

Meow

Hi Tigger and 10past6,

I haven't applied for the IVA yet, I have a starter pack from Debt Free Direct who were reccomended by the debt advice trust.

The first thing they reccomended was to open a basic bank account so that I could prtect my cash from the 'right to offset'. So I wanted to get everything in place first.

The fees will be included in the monthly amount I'm paying out.

I am still not 100% sure about it, I am worried about how it will affect my partner as we have several joint accounts and a joint mortgage (though no equity any more).

Just know I can't cope with it much longer. Got a 7 day notice letter from First Direct even though I am within my agreed overdraft and am paying into the account every month.

Thanks for your help, I apprecate it