Hi all,
Barclays are one of my creditors in my IVA.
How likely are they to let me open their IVA friendly cash card account?
Any advice would be greatly appreciated. I just don't want the embarrassment of going into the branch and being told no.
Last payment 02/02/15.
Completion certificate 07/05/15
You have open an account with someone that isnt a creditor as until the iva gets approved they can offset any money you put into a new account against what they are owed.
paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Hi, I would suggest that you open an account with someone who is not a creditor or associated with a creditor. There are a fair few IVA friendly banks around. I was with and still am with the NatWest through the duration of my IVA .
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Thanks to you both for replying.
Thought it might be a bad idea!!
Have had enough of 4 years of Card One banking, just wanted a "normal" account not one that comes with fees galore and a pre paid card that you have to load.
Luckily it looks like I've been accepted for a Co Op cashminder, which comes with everything I wanted.
Last payment 02/02/15.
Completion certificate 07/05/15
Barclay's are friendly towards undischarged bankrupts who have them as creditors, and once an iva is agreed they aren't allow to set off(worth checking with your IP) so it should be safe
Before the iva is agreed its a bad idea as they can offset, I'd also move if your iva is terminated unsuccessfully
We found Nationwide fantastic, we have a flex account without any Overdraft facility but the rest of the account is the same as all of the other customers. I also have a separate cash card + account which I use for online spending or where I transfer as and when we have some pennies left after our shopping or contingency as back up. Well worth looking into. Barclays are also one of our creditors, they will most definitely decline you an account.
**23'04'14 - IVA Complete F&F Agreed with payments made to date oh and a fat PPI reclaim helped too. Completion Certificate received 23'10'14 ** After a couple of years of waking up and 'surviving' the day I now wake up and 'Live' for the day!!
**Any comments I make are purely my own opinions**
Thanks for all your replies.
I am currently in the last year of my IVA.
Would prefer the Barclays account as they have more branches locally and is easier for me. They also supply a Visa debit, ( the Co-Op give you a Visa electron).
But obviously don't want to complicate my IVA in it's last year, so will more than likely go to the Co-Op.
Last payment 02/02/15.
Completion certificate 07/05/15
You will find that the Co-Op now issue Visa Debit (at least mine is)and the lack of branches is no obstacle, as deposits can be made in the Post Office and everything else dealt with online.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Barleys turned me down for a Current account when I mentioned I was in a IVA..It may have been down to the individual as he was very rude and did not even put my details onto the system. Sent me packing within a minute of mentioning "IVA" Santandare was simular, very standoffish again when I said the magic words..However Yorkshire bank was very friendly and had no problems accepting me and have been a very good bank..Even clear on a Saturday morning..Recommended.
