www.iva.co.uk

Finally, hubby and I went off to Brighton this morning to open an account with Coop. I was so nervous about it, having to admit that we were (hopefully) going to be in an IVA but the guy was so lovely and helpful, the nerves disappeared.

Its so nice after having to deal with such horrible people from various creditor/debt collection companies, that I could've kissed him!

He even said that if the cashminder account is run correctly (which of course its going to be!), then in six months or so, they would upgrade the account - not quite sure what that means and didn't think that was a possibility in an IVA but there you go! Certainly won't be wanting nasty overdrafts, etc. Those days are LONG gone!

Rache

The Co-op do seem to have got it right in how they are handling new clients looking for these kind of accounts. There are other high street lenders too who are offering good basic accounts and it is good to hear that banks are being friendly and supportive.

At the end of the day, everyone who goes into an IVA is going to come out of it one day and be a far more reliable and money conscious customer than many of the people still lapping up credit now. Banks should be supporting you with open arms.

Soap box moment over! - glad you had a successful morning waltons.

Regards,

Glad you got the account sorted out Rache.

Just one word of warning - don't get your hopes up for an account upgrade! I don't know if it's different for an IVA to what it is in BR, but I was told that if you have a bad credit history they won't upgrade the account until it's clear.

It's no big deal though as the Cashminder is a very good account x

Yeah, when the guy said that we could get an upgrade, I questioned it, but he said only in bankruptcy would we not. We won't be getting our hopes up for sure, cos we are more than happy living in this basic way. In some respects, it feels good knowing that we don't have any back-up. Strange!

Lots of clients say that - I think its the fact that not having a "credit" safety net when you have a weak moment actually gives you a greater safety net overall. It forces you to take other action.

I'm sure you'll be fine with the cashminder all the way.

I was happy with the Cashminder and I only stopped using it as my full Nationwide account was still open.

Have to say that I've not heard of anyone in an IVA being offered an upgrade.

Glad you've got an account sorted though Rache.

My Natwest account was upgraded to a basic account to a basic account with a cheque book, a few months back. I've never used it as I have another cheque account. x

Strange world we live in - Exactly the same thing has just happened to me. I opened a joint basic account and savings account (still hoping)with co-op a few weeks ago. They provided great service and I phoned them last week to order a new cheque book. Although I'm still applying for an IVA they offered me a free £200 overdraft facility. Caught off guard I reverted to type and instantly agreed. Seconds after putting the phone down I was re-dialling to cancel the up-grade. Obviously they asked why I had a change of heart so I explained that I was applying for an IVA. They thanked me for my honesty (only bank ever to do that!!!) and offered me the upgrade anyway as I'm not actually in an IVA yet and it would provide a safety net in the future. Although tempted, I managed to say no which they accepted.
They seem to be really supportive.

I think that iva.co.uk ought to give the Co-op Bank an award for support to clients in financial difficulties. They really do come up trumps where other banks are left sadly far behind.

I totally agree with you Melanie they are fantastic.

I think they are so good as they are an ethically run bank (Don't get many of those lol!).

I'll be staying with them for good I reckon.

I agree. The only reason I stopped using my Cashminder was because I had a full Nationwide account that wasn't closed down when I went BR and it seemed silly not to use it.

My one complaint about the Co-op is their strange attitude towards savings accounts!

I applied to Co-op for one of their Cashminder accounts as soon as I had decided to go down the IVA route.When they asked why I wanted to open the account I told them I was in the process of going through an IVA, which they were fine with. My wife and I received our cards within a week of applying, and the application only took about 10 minutes on the phone! Would definitely recommend.