Need a bank account

[clearwater]

Hi,

We have set up ltd company and have been turned down for a bank account because I have a ccj against me from four years ago, this was registered 1 year after we left the address and knew nothing about it.

The bank told me to reorganise the company deleting myself from being a director and appointing my wife instead.

Is this ok to do or if we stay as we are is there any hope of getting a bank account opened, as this venture is retail we are dependant on a banking service and merchant services.

Is all lost or can we get an account.

We also need to try and secure a business loan to fund the initial business launch. I have already invested the best part of my savings and do not want to fail now at the last hurdle.

Any advice would be greatly appreciated.

[bwglaw]

Whatn the Bank has suggested is not a good idea.

You can get an account with Natwest Direct Business Banking. Enquire at their branch about it.

You should consider disputing the CCJ if any of the facts appear incorrect.

Jonathan

[bmedia]

If you look in exchange and mart you will find companies who have no problem opening bank accounts for you for a small fee. Some people will say its a waste of money but you will find their advice will go along way

[garyk]

Jonathan

I found Natwest direct business banking appaling, I was almost tempted to place a complaint with the advertising standards people because they allude to things they simply dont deliver (in my experience) in their ads.

Gary

[bwglaw]

We used to be with NDBB and they were appalling but credit history was not good then which is why we had that account. We are now with HSBC and they are fab

Jonathan

[level200]

How long do CCJ's stay on record, dont they last 6 years?

[Rachael]

Try the bank you hold your personal account with. I left uni in a bit of a mess and bank with Barclays and they set me up a business banking account with no problems.

I think Lloyds TSB also help people with bad credit

[PI Guy]

CCj's last 6 years. If the info is wrong then dispute it! During the dispute period, they have to remove it, Apply during that period.

Get a copy of your credit file it only costs £2. Disassociate yourself from any others that might appear on it who are unconnected financially with you.