Bank takeovers complicating life

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brokeinbrum

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Post by brokeinbrum » Mon Sep 29, 2008 10:19 pm
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One year into an IVA. Had a range of creditors. Opened an Easycash account with Halifax, with whom I had no debt. However, now with the takeover of Halifax by Lloyds TSB - one of my creditors - complicates life somewhat. I phoned by IP and find that now I have to open another account (fortunately I already have a Yorkshire Bank readycash account). Just thought some others might be in the same situation. What happens when we run out of banks to open an account with?
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kallis3

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Post by kallis3 » Mon Sep 29, 2008 10:22 pm
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The only good thing is that when you are in an IVA,the bank can't take any money to offset against your debts. The bad news is that they could close your account.

We have a card cash account with Nationwide. I might try and open another with the Co-op or something so I have a backup plan.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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plasticdaft

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Post by plasticdaft » Mon Sep 29, 2008 10:30 pm
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brokeinbrum wrote:

One year into an IVA. Had a range of creditors. Opened an Easycash account with Halifax, with whom I had no debt. However, now with the takeover of Halifax by Lloyds TSB - one of my creditors - complicates life somewhat. I phoned by IP and find that now I have to open another account (fortunately I already have a Yorkshire Bank readycash account). Just thought some others might be in the same situation. What happens when we run out of banks to open an account with?
We all sleep with our money under our matress's!!
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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Julie

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Post by Julie » Tue Sep 30, 2008 1:12 am
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I'll be okay, haven't got any money to put under mattress [:D]
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brokeinbrum

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Post by brokeinbrum » Tue Sep 30, 2008 10:04 am
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I was going to try Citibank access - any news on whether they accept people in an IVA. My IP said they can take money from you to offset debts.
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kallis3

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Post by kallis3 » Tue Sep 30, 2008 11:48 am
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They can take money to offset prior to an IVA, Halifax did that with me.

Once you have been approved, you are all legally bound, and they cannot take money from your account to put towards your debts.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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