Business accounts while in an IVA
-
debbyac on 15 May 2007 2:53 PM
From Kent, 1 post
Does anyone have any info on this subject please?
My husband and I are have started the IVA process, our creditors meeting date has just been set for the beginning of June. We were advised right at the start to open new bank accounts, this is particularly important for my husband who needs a business account and we were advised to go to HSBC. It took ages to sort out the accounts but they are now up and running. However I have just found out that this was bad advice as HSBC have a policy to close your accounts if you enter into an IVA, even if they are not one of your creditors and your account is in order. I am very frustrated!! I now have to find an alternative bank who will let us open new business and personal accounts with direct debit and debit card facilities, obviously no overdraft but don't know where to turn. I do not want to be faced with the same scenario down the line with having them closed and my husband desperately needs a business account to keep trading. Obviously our IVA has yet to be accepted but our credit rating won't be good now as we have stopped paying our creditors. Does anyone have any advice on any banks we could contact. Thank you!


Share this page: