Any current account (apart from basic bank accounts)runs the risk of being closed when you are in a trust deed. First Direct closed mine. The good news is that there are now several banks that offer a basic bank account with all the facilities of a normal current account except overdraft and cheque book. There is an article on here about bank accounts. I personally have a basic Santander account which my salary is paid into, my bills are paid out of by direct debit and a visa debit card (the only place I cannot use it is pay at the pump at petrol stations.

Good advice from fcwalker here.

The most basic account provided by a bank you don’t owe money will usually be fine.

Banks tend to push their other accounts harder, meaning some people trying to get a basic account end up with one that’s more likely to be closed.

By the way, with the Co-op account you can pay in cash/cheques at your local post office.

I’m a little concerned about the car finance advice, unless the advisor has checked with you who the lenders are already and taken that into account? There are some with insolvency clauses in the contract who will use them even if payment has been made as normal.

Who are the car finance providers?

With regards to the two cars on Finance, can you tell us why there are two? I.e, does a relative have use of the second car but the finance is in your name?

There are certainly situations where you would be allowed to keep both vehicles - subject to the points raised by Trust Deed Assistant above - but this would depend on your circumstances. You should have received an explanation as to why both vehicles could be retained, and ultimately receive that advice in writing in your initial trust deed documents.

One of the finance agreements is through black horse and the other is through close brothers motor finance. The reason I have two is one for me and one for my partner as wee both need them for work and taking the kids to school etc.

Thanks for the reply Gawa. That is as expected and is entirely reasonable. So long as the full household income and expenditure is assessed - albeit with the disposable income pro-rata'd accordingly - it is in order for both vehicles to be retained as your partner's income comes into the household and therefore contributes to the household disposable income and your ability to contribute to a Trust Deed.

I hope that makes sense.