I am scared now to take on the banks

[puppylove]

Hi, I am really scared now, I have sent off DPA to three banks and now reading these threads about Banks closing accounts, it has made me feel scared because I have tried to open a parachute account but been turned down probably due my bad credit scoring.

 

I feel now I have taken on too much as I could end up paying back 2 credit cards in full lose my bank account and be far worse off.

 

Can anyone advise me of any institution that gives cheque book switch card to someone with adverse credit?

[barracad]

http://www.consumeractiongroup.co.uk/forum/general/13832-do-you-need-parachute.html

 

 

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[livelylad]

Hi, I am really scared now, I have sent off Data Protection Act to three banks and now reading these threads about Banks closing accounts, it has made me feel scared because I have tried to open a parachute account but been turned down probably due my bad credit scoring.

 

I feel now I have taken on too much as I could end up paying back 2 credit cards in full lose my bank account and be far worse off.

 

Can anyone advise me of any institution that gives cheque book switch card to someone with adverse credit?

 

Check Barracads thread here http://www.consumeractiongroup.co.uk/forum/general/13832-do-you-need-parachute.html

Please be aware that not all banks close accounts and you are quite within your rights to challange your bank should they decide to do this.

 

Also i would continue your claim after all it is your money.

[livelylad]

I need to type faster

[puppylove]

Thanks, but it dont solve my problem with adverse credit I need a cheque book and switch.... i think the banks will have me by the short and curlies!

[Holdred]

If you have adverse credit then it's very unlikely that a bank will give you a switch card, due to it's ability to put you overdrawn etc plus it's a cheque gaurentee card.

[Rosemary]

As Livelylad said - not all banks close your accounts. I have had success in claiming my charges back and only the Alliance & Leicester seem to carry an automatic closing down instruction linked with your payout. I'm currently taking Lloyds for a huge sum and nothing has been said either to me or other people who have successfuly claimed from them about account closure. Equally, I claimed from HSBC - they didn't close our account. I suspect if you claimed against them for a second time - they might get ratty!!

 

Anyway, you can always complain to them. If you want some good templates for the future in case it happens to you - take a look at my A&L letter I sent to them - it has got them seriously rattled (so far) - Just do a search on my name.

 

And good luck!!! Remember - whilst you are asking for your money back, you are also acknowledging that you are happy to pay their losses they've incurred by your 'naughtiness' in stepping out of line but you're just wanting to know what they are! If you go to court, you've been forced to because they won't divulge what those losses are and you're asking the judge to enforce them to provide the costs. The happy by-product of that is they'd rather give you your money back!!!!

[stuartwaters]

Hi,

 

Good parachute accounts are Natwest Step account or (and don't quote me on this) RBOS Key Account. They're both basic current accounts with a Solo/Maestro card, no cheque book and no overdraft. You can get online banking though.

 

They do a credit check, but that's really meaningless. The problem is the credit scoring and I don't think applications for these types of accounts are credit scored. I got one and if I can, anyone can

 

 

Works for me!

[puppylove]

Thanks.... HDBC turned me down... so i am hoping halifax dont take my cheque book away from me as I need it for kids school fees etc..

[pj41]

Hi Puppylove,

 

Don't panic. Try the Co-Operative Bank. Ask for a basic acount with a Visa Electron Card and on-line banking.

 

Any one who wants money off you eg School fees. Ask them for their bank sort code account number and your reference number and pay online.

 

I do it with every single bill that I get and the bonus is as its not a Direct Debit if you are 1, 2, 3, 4, 5, 6, or 7, days late there is no charge from your bank . My attitude is if I've got it I'll Pay You!! Don't mess with your council tax or your mortgage provider, if you have them, about too much though as they get pretty nasty quite quickly. Remember ALL comanies that send a bill want YOUR money so will have a HUGE amount of ways of HELPING you to pay it. PAY ONLINE when it suits YOU. Therefore YOUR IN CONTROL OF YOUR MONEY

 

hope this helps

 

 

Cheers

 

 

Paul

[kateandpete]

Get your credit reports from the three horsemen of the apocalypse (Experian, Equifax and CallCredit) (god i hate these guys - they're worse than the banks, at least the banks take responsibility for their decisions). Find out how bad your credit is. If there are defaults from old accounts you can get them COMPLETELY REMOVED. The creditors have no right to "continue processing this data" after the credit agreement is finished. There are many threads about how to go about this in the "Legalities" forum. Specifically, check out surlybonds sticky thread.

 

Be warned though - this is more on the rocket science side of the action of this site. It takes dedication.

[Guest HUSBANDKHAN]

You havent said who your accounts are with. there is a way about. If you open a deposit account with a building society for your cheque side and also if you open a step with natwest. natwest do not charge you on this account if you go overdrawn because of a direct debit. They will however delay you from opening a current account by 6 months for every time you go overdrawn. they give you a maestro/sol (switch equivelant). you did not also state where abouts you are in the country. As if you could then i could probably give you the name of a building society near you.

[Guest HUSBANDKHAN]

P.S do not be worried theyre not going to bite your head off !!

[saddler10]

Hi Puppylove, I have also opened a Co Operative account after A&l closed my account with them. I pay most things online and am much happier without an overdraft to worry about!

 

Paul

[puppylove]

Thanks guys..... i just keep my fingers crossed cos havent heard of halifax closing accounts

[Godders]

Get your credit reports from the three horsemen of the apocalypse (Experian, Equifax and CallCredit) (god i hate these guys - they're worse than the banks, at least the banks take responsibility for their decisions). Find out how bad your credit is. If there are defaults from old accounts you can get them COMPLETELY REMOVED. The creditors have no right to "continue processing this data" after the credit agreement is finished. There are many threads about how to go about this in the "Legalities" forum. Specifically, check out surlybonds sticky thread.

 

Be warned though - this is more on the rocket science side of the action of this site. It takes dedication.

A bit off topic but what 'decisions' do the credit refence agencies make?

 

I always thought they simply provided factual info and the lender made the decisions on whether to give credit or not.

[Guest HUSBANDKHAN]

Credit refrnce agencies only show information which the providers have provided as correct info eventhough most of the times it is incorrect !!!

[Guest HUSBANDKHAN]

also puppylove use your statements as a like for like transfer bankaccount transfer. you may get lucky as all banks do alike for like transfer service.

[kateandpete]

A bit off topic but what 'decisions' do the credit refence agencies make?

 

I always thought they simply provided factual info and the lender made the decisions on whether to give credit or not.

Wrong.

CRA's are data controllers aswell. They have just as much responsibility to comply with the data protection act as their clients (the banks). The data they hold is about you. It is YOUR data. YOU own it, not them. For instance, in my case they have "decided" to take HSBC's word over mine in a dispute about an incorrectly registered default. I have asked HSBC to prove this incorrect data. Of course, they can't.

 

It is my opinion that the CRA's are just as guilty as HSBC in defying the DPA, which states that data must be accurate. I've asked the CRA's to prove it aswell. They can't. Furthermore, they say, "HSBC told us it's right, therefore it must be right". So, in addition to defaming me with incorrect data, they DO NOT TAKE RESPONSIBILITY for it. They are parasites of the worst kind.

[noomill060]

You could always get a pre-pay debit card. go to talksport to get one of theirs.

 

Its a digital shoebox to keep your money in.

[Godders]

Wrong.

I think you misunderstood; I meant decisions when it comes to giving credit.

 

Dissemination of incorrect data is a different matter entirely and I totally agree with you.

[kateandpete]

Ok. Fair enough.

They aren't lenders at all and don't hold a consumer credit licence. Their business is data alone. Which makes it even worse that they don't comply with the DPA.

[cabsy83]

Re transferring your account. RBS will not transfer an account if you have a charge on your most recent statement which they require to transfer your account. I tried this last week!!

[Guest HUSBANDKHAN]

I wouldnt be scared of banks as i know nobody will ever come to the door. however it is a diffrent story if you are having run ins with various bailiffs!!!!!!!

[Gruffle Gaw]

Wrong.

CRA's are data controllers aswell. They have just as much responsibility to comply with the data protection act as their clients (the banks). The data they hold is about you. It is YOUR data. YOU own it, not them. For instance, in my case they have "decided" to take HSBC's word over mine in a dispute about an incorrectly registered default. I have asked HSBC to prove this incorrect data. Of course, they can't.

 

It is my opinion that the CRA's are just as guilty as HSBC in defying the Data Protection Act, which states that data must be accurate. I've asked the CRA's to prove it aswell. They can't. Furthermore, they say, "HSBC told us it's right, therefore it must be right". So, in addition to defaming me with incorrect data, they DO NOT TAKE RESPONSIBILITY for it. They are parasites of the worst kind.

 

Without wanting to get too far off topic, a useful fact to know about defamation law is that every repetition counts as a fresh libel. Therefore, you could sue both HSBC and the CRA in question if you felt so inclined. My understanding of defamation law is pretty solid (I work as a journalist) so if you're thinking of going down this route, PM me with any questions - I'd be happy to help.