It's not advisable to use them, but now you are in an IVA they cannot take any money out to offset. Don't worry about the debt collector.
If push comes to shove you could always use this account while you try and source another one.
Barclaycard were one of my creditors and we still use our Barclays account just to keep it going so that we have a full account at the end of the five years.
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
It is advisable to open an account with someone who was not a creditor.
Once you are in an IVA then your original bank cannot take money to offset against their debt.
They can always close the account though. This is why I don't use Barclays as my main account but just stick a few quid in just to keep it open.
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
Na70, don't forget it can take 8+ weeks to get the iva accepted and your money may be used to offset during this period. This is legal and you are very unlikely to get the money back. I was taking a £2k overdraft into my iva so got my new bank account sorted as a priority. Added benefit of doing this early is that you are more likely to get a standard bank account with a visa and a cheque book rather than a basic account.
Na70 is already in an IVA so could use an old account as I do.
However prior to then they can take money out as I know to my cost and embarrasment!
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
If you have an account with a chequebook and it's not with one of your creditors then it's fine to keep it. For the short time I was in my IVA I had a full account with Lloyds TSB with a debit card and chequebook with no problems.
Don't worry about it Stewpots, this is the reason the forum exists [:D]
They can close them aftet they find out yeah but depends on the bank. I opened mine with Yorkshire Bank in July 2008 and went into the IVA in the October and have had no issues.
1st payment Oct 2008, last payment Dec 2013. Certificate received March 2015 due to PPI claim.
The only banks that are known to close accounts are HSBC and First Direct.
I still have a full account open, complete with cheque book, with Barclays. I don't use it as my main account though.
If you can get an account with cheque book with a non creditor bank then it is fine.
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
lukeofyorkshire wrote:
Don't worry about it Stewpots, this is the reason the forum exists [:D]
They can close them aftet they find out yeah but depends on the bank. I opened mine with Yorkshire Bank in July 2008 and went into the IVA in the October and have had no issues.
Well I phone think banking and got an account
They seem nice polite and called me back
All the paper work is being sent
Then of course I started reading forum reviews with their 0845 number hanging on for 40 mins and poor service .[V]
