After a long ongoing saga with a leading high st bank we are now in their debt recovery dept paying #130 per month on a 43000 (approx) loan for house purposes (with no Mortgage!). Interest on this loan is being added at approx #10 per day. We have found companies that will take over the loan, as a mortgage, but we are having trouble opening a bank current account, because of past ccj's. As with most debts this is long and complicated, can anybody help ???

-- john kenny (john@jamdesign.fsnet.co.uk), May 15, 2000

Answers

If it is just current account facilities you want, then you'll almost certainly find no current account supplier, bank ort building society will goive you one because of your past history. Instead, you could get an account with no cheque book but a cash card anmd the facilioty to set up standing orders and/or direct debits. You would have to use cash to settle day to day bills and would not be able to go overdrawn.Abbey National have an account like this and so do some other companies. Once you prove you can be trusted not to run into more debt, they upgrade you to a full current account with a cheque book and debit card. This takes about a year.

The alternative is to seek a current acount from the bank that already know you best - where you have had problems. They are the most likely to agree - noone else will.

-- Abbey Lane (answers@cahoot.com), June 13, 2000.

The lasr answer i do agree with in most points but that the Writer presumes the debtor is not to be trusted,why does the writer presume just because the person has had ccj,s and is paying off debts that the person cannot be trusted There are many reasons seen in court and out of court for debt,no average person likes to be in debt-but saying that how many firms have been rescued -who would have gone under and yet they had massive debts! We must in this country take a different view point on this subject

Charles Twford

-- charles twford (charles.twford@lineone.net), June 14, 2000.