Hi Luby

Just check that they allow you to have the basic accounts some banks won't allow you to have an account.
like David said have two accounts and one can be a bill paying account this may help you budget.

Michael

That's a very good point Michael.

A second account can also be useful to save monthly allowances for things that you may not actually have to pay for monthly.

For example:

1 - Car tax.
2 - Car maintenance.
3 - Clothing.
4 - Emergencies and contingencies.

That should help to ensure that the money is there when it's needed.

Im with clydesdale and have a current account plus which has a maestro faciltity (chip and pin) has anyone had any problems with this account?

Lindsey- I opened 2 basic accounts with the Clydesdale after deciding to go into a TD. Both are the most basic- no overdraft/ cheque books etc and I have had no issues with them throughout my TD. I completed my repayments in June and have just been discharged.

Hi debtfree13,

Thanks for sharing this information. It's not only useful for people who are considering a Trust Deed but also the staff and experts as we can then keep track of what banks offer which accounts and the likelihood of them closing it etc. I know the members of my team monitor the forum to stay up to day with any changes like bank accounts, credit ratings etc.

Every day is a learning day!

Thanks debtfree13 nice to know i wont have the hassle of switching direct debits etc and changing banks

Thank You All,

I have taken your advice and went ahead with co op application as well. So like most of you have said if one of the accounts close then I will have other for back up or as Michael McGowans says use as bill payment acct only.
Thats why I like coming onto this forum as you have all gone through it and your advice and tips are going to help me immensely.

I just hope everything goes well at my first meeting tomorrow I think once I know what is going to happen I can get on with it and get things moving. Right now I feel so stressed and like Im in limbo.

Thank you all once more for taking the time to reply

Louise

Good luck tomorrow luby.

I'm sure that it will all go well for you and put your mind at rest where there is currently uncertainty.

Hi,

Just a quick question it came up on anothet post I was reading. Will a creditor object to TD if the debt is very recent??? I have had my visa card for years with Barclays and have just recently done balance transfer to them to ease thing for.me. Im worried that they will object as its a new debt. Any advice???

Louise

Its not likely a move to consolidate debts or reduce interest on your part will be seen as a reason to reject a TD.

Paul

Hi luby.

Ask your adviser for their thoughts on that when you meet with them. I think you mentioned that you're meeting with Mark? He'll be able to share his experience of newer debts and Barclays in terms of getting trust deeds protected.

Paul's probably right. It's not as though you have used the card to pay for a holiday or a new car. You could understand why creditors might be reluctant had that been the case.