Thanks Paul, I will roughly have the same amount. I emailed Kevin and he confirmed that this amount would be fine.

On a different note, I've applied for a basic account with Loyds TSB. Has anyone had any dealings with them while in a PTD? I applied online but I'm going to phone them and make them aware of my situation and to make sure they wont close the account once I enter into the TD.

Just wondering, is anyone a part of, or know of a good credit union to join who accepts those in a TD? I spoke to Capital Credit Union for Edinburgh who stated it would be a possibilty but they would be looking for at least ?é£200 per month going in, which would not be managable for me.

I thought you saved what you could with the credit union??

What about an online saving account with the post office?? The yorkshire building society also do an internet saver account??

Paul

I've just signed up to my local credit union. I told them I'd just completed a trust deed but hadn't been discharged yet. They said it was no problem and allowed me to open an account with £2. There wasn't any mention of having to put a minimum in only that if I wanted to take out a loan, it'd be credit checked.

I am in the middle of a PTD and joined Capital Credit Union about a year ago, in which I save £10 a month. £200?!!! I don't know what account you've been advised on, but obviously not the basic account I have.

Also after about 9 months I applied to Capital Credit Union for a small loan to repay my expensive overdraft, and it was accepted.

On closer inspection it looks like they were talking about the premier account. I've emailed them back in regards to their basic one. If others have it already then there shouldn't be a problem.

I assume you live in the Edinburgh area if you're looking to join Capital Credit Union. Personally I'd avoid any credit union that paid it's CEO £75K a year - not really in the spirit of credit unions in my humble opinion.

West Lothian CU is good solid one if you fall into their catchment area and many of their staff are so good at what they do they support other smaller credit unions (free of charge) in the original co-operative spirit.

Thanks for that uncleben. Yes I'm in Edinburgh but my area is city of edinburgh so I'm not sure if I will qualify. I'll look into it though.

Depending on your job you may find an employee type credit union. The nhs does one,as does the transport union.

Paul

Go to the ABCUL website and click the link on the right of the page to Find Your Credit Union. If you type in your postcode and who you work for it will find all the credit unions you are eligible to join. Most will have their own websites to promote what services they offer and will be happy to give you information over the phone.

Thanks uncleben. I had a look and Captital credit seems to be my only option 🙁

Beerdrinker if you don't mind me asking, what type of account do you have with Capital Cresit Union? When I went on their web page I could only see platinum and premium.

Just a wee update as I havn't been on here for a while. Spent the last few weeks getting everything ready i.e closing my current account and moving direct debits etc to my new account in preparation for entering a TD. Signed all the paperwork last thursday with Kevin Mapstone from RSM Tenon so now its just a waiting game to become protected. Fingers crossed! 🙂

It's good to hear that things are progressing for you Headwire.

I hope that the next few weeks pass quickly for you..