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Posted: Tue Nov 20, 2007 4:07 pm
by deb.e
If I go into an IVA scheme in the UK, can I still open a bank account for my wages to be paid into?
Posted: Tue Nov 20, 2007 4:10 pm
by iva experts
Hello and Welcome to the Forum,
You still should be able to open a bank account, however this needs to be a basic bank account with no credit facilities attached eg.overdraft. This account cannot be with one of your creditors.
Are you currently living in the UK? What is estimated amount of debt? Creditors? Disposable income?
Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Posted: Tue Nov 20, 2007 4:12 pm
by Oliver
You absolutely will be allowed to open a bank account but as IVA Experts has already said, this is likely to be a basic bank account and must have no credit facilities attached.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp
Posted: Wed Nov 21, 2007 9:22 am
by louisa.s
if halifax aren't one of you creditors then they do an easycash account which gives you a visa electron card & online banking! We just got ours as a 2nd account to run alongside our other joint account (TSB) so that our housekeeping is kept separate (easy for us to budget!)
Posted: Wed Nov 21, 2007 10:33 am
by cr15py
I have just opened an account with LloydsTSB, and was completely open about my circumstances. I have a current account, no credit, with a cashcard, cheque book, set up online with a savings account as well.
LloydsTSB do a useful little thing called "Save the Change", basically if you do your shopping on your debit card (which I always do) and it comes to, say, £24.21 they will take £25 out of your account and put the 79p into the savings account. It is quite amazing how quickly it can accumulate!
Posted: Wed Jun 04, 2008 11:31 am
by Anika765
IVAs don't hinder you from opening a bank account (as stated before), but that only inconvenience is that you do have to settle for a basic account for a while and make sure that you don't take to much out because they will be quick to charge you fees! Just be careful
Posted: Wed Jun 04, 2008 11:35 am
by kallis3
Nationwide and Co-op are good ones if they are not one of your creditors.
Posted: Thu Jun 26, 2008 2:56 pm
by guppy
I tried opening a basic account with HSBC but they turned me down on my credit rating and I payed off my IVA earlyand that was last year in August.