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Finished my IVA now having trouble getting bank account

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Re: Finished my IVA now having trouble getting bank account

PostPosted: November 23rd, 2017, 11:31 pm
by THECOACH
sorry , file is correct, iva started Nov 2010

Re: Finished my IVA now having trouble getting bank account

PostPosted: November 24th, 2017, 12:46 pm
by Debtwizard
Hello TheCoach

The IVA should drop off your credit file November 2016, so it can't be that which is causing you a refusal for a current bank account.

Have you checked to see if you have any 'associations' on your credit file. This means you are connected with someone else who is showing up on your credit file. For example you are both on the rental agreement, mortgage or have a joint loan or bank overdraft, the latter (joint loans) most unlikely due to the IVA dealing with your debts.

It might be down to having too many searches against your name (check credit file to see who has done searches on you and what dates) this could spook a potential bank.

Have you asked the bank concerned why you have been refused a current account? This might give you the answer you are looking for.

Failing that I would open a 'basic' bank account with one of the banks on the earlier link I posted. This will get you your own bank account but without any overdraft or credit facilities.

Best wishes,
Mike

Re: Finished my IVA now having trouble getting bank account

PostPosted: November 27th, 2017, 7:42 pm
by THECOACH
Thanks Mike

Have opened foundation account with nat west, no cheque book or overdraft that's a start anyway.

Re: Finished my IVA now having trouble getting bank account

PostPosted: November 28th, 2017, 12:37 pm
by Debtwizard
Hello The Coach

Great, as you say that's a start.

Do keep an eye on your credit report and make sure there are no anomalies. Pop back if you have any more questions/queries.

Best wishes,
Mike