Information to help you deal with your CRF's

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By DARIUS
#267553 Now that the IVA and Bankruptcy have dropped of my CRF's, can the ex creditors that have put financial associations on them, be taken off???? Or are they on there for ever?????

I am soooo trying to find ways and whys, the CO OP have declined me an upgrade on my cashminder account.
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By Gazza1912
#267673
DARIUS wrote:Now that the IVA and Bankruptcy have dropped of my CRF's, can the ex creditors that have put financial associations on them, be taken off???? Or are they on there for ever?????

I am soooo trying to find ways and whys, the CO OP have declined me an upgrade on my cashminder account.
I can't answer the first part of your enquiry, but as to the second, why would you want an upgrade on a basic bank account? By 'upgrade' I'm assuming you mean things like cheque books and overdrafts which will only encourage you to get back into debt or take on more debt.
By nigpet
#267703 Why the restriction on chequebooks? Does anyone know? I can understand overdrafts but can't see what the difference is between a basic account & a normal one with chequebook but no overdraft. Soon there won't be chequebooks anyway, if we're to believe the banks (!), so what will be the point in having a difference - is there a technical one most of us don't know about?
By DARIUS
#267743 For me personally, I would like a cheque book so that I can write cheques for my kids dinner money, music lessons at school, rather than keep asking family. I don't really like the idea of her carrying money to school.
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By Gazza1912
#267873
nigpet wrote:Why the restriction on chequebooks? Does anyone know? I can understand overdrafts but can't see what the difference is between a basic account & a normal one with chequebook but no overdraft. Soon there won't be chequebooks anyway, if we're to believe the banks (!), so what will be the point in having a difference - is there a technical one most of us don't know about?

Because some places are happy to accept cheques that are not backed up by a cheque guarantee card, and even though it would be fraud to write and issue a cheque knowing full well there are insufficient funds in the account to cover it, for some people, the temptation might be too much not to actually do this.

I'm not saying this is the intention of the poster here, just pointing out one reason why cheques are not a good idea for someone in debt, or struggling to make ends meet. But that said, yes, cheques are indeed to be phased out at some point in the future.