I am just atarting the IVA process and have been advised to open a new account as I have debts with my existing bank. I have tried co-op as recommended by many on the forum and have heard today they have turned me down
Don't know who to try next and panicing about my wage going into my existing bank.
The ClearCash account is a good one to consider if you are unable to obtaine free banking - but you could also try the Nationwide Flex account or the NatWest Step account.
Did Co-op giv you any reasons for why they turned you down?
No they said a letter would be sent out to me. I have just looked at my credit expert file and its still showing a good score. I have asked them to send me details of the cashminder account but this will take 10 days or so to sort out and then they could turn me down again.
I will try the Nationwide one.
Thanks for your advice, you do a fabulous job on here for us all!
Mrsfaz, I have had a cashminder a/c with coop since my IVA - there is no credit check only reg of electors. You should get one. The cashminder a/c pays direct debits, is a debit card so going the shop is easy etc - the only thing it doesn't do is pay interest but who cares your IVA would have that anyway. I've had no bother with coop and my credit rating is lower than a snake's belly. Try and proceed and hang on for those 10 days. But the process would be a lot quicker if you had a branch. If you do take a bill, drivers licence and they may get it done there and then. From today, when does your wage go in?
Completed IVA - August 2012 pheeeeeeeeeew
Only my opinion - Nothing More Nothing Less
Lots of posters have the Cashmidner account with the Coop without a problem.
I'm with Natwest and used to have the Step Account that is no longer but the Basic account is fairly good, the only drawback being you can only use Natwest Cash Machines to withdraw your money. I successfully upgraded despite being in an IVA. You can apply online for Natwest accounts.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Being declined for these accounts can sometimes happen if you have moved recently and maybe not on the electrol role or council tax register? does this apply to you?
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
I really wanted to go with to co-op, i get paid on friday and payments are going out which i really wanted to avoid happening. Might just have to ride out the next couple of weeks with them and pay them the credit card and loan payments.
If i go to see them, will they set it up there and then or will it still need to be processed?
ClearCash seems to be a prepaid credit card is that right?
hi, just letting you know that i applied for a cashminder account about 4wks ago, i have been in an iva for almost 5 years and they didnt turn me down. hope this helps. i also went to the branch and they told me there n then!![:)]
In any event, could you not, immediately cancel the big payments i.e. c/c, loan etc, instead pay on your debit card that goes with your wages account a few days later. That may give you a little control, in the very short term, but allow you the time and breathing space to create a fresh account elsewhere.
Completed IVA - August 2012 pheeeeeeeeeew
Only my opinion - Nothing More Nothing Less
That may be the problem Mrsfaz, see if you can get yourself on the electoral role.
You can visit the AboutMyVote website and type in your home postcode to find and download your local authority's registration form. Print it, complete it and then simply send to the address at the top of the form. Should be easy and only takes you 2 minutes
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
