Page 1 of 1
Posted: Mon Apr 28, 2014 7:24 am
by Rob.rt
I am 2 years into an iva. I have a coop cashminder account which coop are closing as I went overdrawn for a couple of days. I want to open a Barclay's cash account but one of my creditors in my iva is barclaycard. Can Barclay's take money from this Barclay's cash account?
Posted: Mon Apr 28, 2014 9:06 am
by Michael Peoples
Barclays cannot offset against the debt once the IVA is in place. However, they may reject you because of the previous Barclaycard liability but hopefully this is not the case.
Posted: Mon Apr 28, 2014 9:07 am
by crazyjoe90
My understanding to this is yes they can. You will have to find another bank that is not one of your creditors. You have to be careful with that too as some banks are owned by others for example RBS owns Natwest and Lloyds own Halifax etc. To confirm this one of the experts will no doubt tell you.
Posted: Mon Apr 28, 2014 9:09 am
by crazyjoe90
Ha Ha, typical just as i'm typing my suggested reply Michael, you've already posted to correct me !!! That's why your the expert !! Haha !!
Posted: Mon Apr 28, 2014 9:15 am
by Michael Peoples
Your answer was longer than mine so I got there before you!
Posted: Mon Apr 28, 2014 9:28 am
by UpToMyNeckInIt
Rob,
If you are struggling to open a high Street bank account, you could try Secure Trust bank, or the card-based providers like Clear Cash, Cash Plus, Think Money etc.
Good luck with you search for a new account.
Posted: Mon Apr 28, 2014 6:53 pm
by martinw
have you tried appealing to the coop ?
If not try one of the IVA friendly banks listed in
http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=58047
at this stage I wouldn't worry about any negative effects from failed applications
Martin
Posted: Tue Apr 29, 2014 1:01 am
by MelanieGiles
There is rarely any linkage exercised between Barclays and Barclaycard, however it is always best to find a totally non-connected banking facility if you can.
Posted: Tue Apr 29, 2014 7:44 am
by Shining
Interesting point Mel about no linkage exercised between Barclays and Barclaycard as when I applied for car finance I had a panic when I realised they were using Barclays finance as Barclaycard was a creditor of mine, doubly surprised when it came back as accepted. I was wondering about this one.
Posted: Tue Apr 29, 2014 1:47 pm
by Skippy
I was refused a basic bank account with Barclays when I was BR and the only reason they could give me was that Barclaycard was one of my creditors.
However, I have recently been approved for a credit card by Barclaycard!