Opening current account before an IVA
Hi all,
It looks like I will have no alternative but to go for an IVA, having recently taken an £11,000 pay cut.
Anyway, from reading Martin's advice I think I need to open a new current account before registering - some of the unsecured debt is with our current bank, where I hold a joint account with "Mrs DeToy".
Although I have a high level of unsecured debt (duh!) I have no defaults, CCJs or late payments (yet) so I am thinking it should be not too difficult to get a new current account. I did just try opening a Nationwide flexaccount, but the application was cancelled as they said they couldn't help me - it might have been because I said I wasn't going to use it as my main current account?
Any advice would be appreciated.
It looks like I will have no alternative but to go for an IVA, having recently taken an £11,000 pay cut.
Anyway, from reading Martin's advice I think I need to open a new current account before registering - some of the unsecured debt is with our current bank, where I hold a joint account with "Mrs DeToy".
Although I have a high level of unsecured debt (duh!) I have no defaults, CCJs or late payments (yet) so I am thinking it should be not too difficult to get a new current account. I did just try opening a Nationwide flexaccount, but the application was cancelled as they said they couldn't help me - it might have been because I said I wasn't going to use it as my main current account?
Any advice would be appreciated.
0
Comments
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Hi
I think our first concern would be that you have taken advice from a debt charity http://www.moneysavingexpert.com/loans/debt-help-plan#help before deciding to do an IVA.
See Martin's Guide http://www.moneysavingexpert.com/loans/pdf-iva-guide.pdf
We are not terribly keen on them because we encounter so many people going bankrupt when their IVA fails.The person who has not made a mistake, has made nothing0 -
Yikes.
I'll make an appointment with somebody first then. Thanks for the advice.0
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