Business accounts

[Roadrunner]

Hi, I have a joint personal A&L bank account with an OD and i have two A&L unsecured personal loans in my name only. I also have two business bank accounts with A&L as i am self employed.

What I want to know is if i approach A&L about a debt management plan are they able to just take DDs for the loans out of a) the business accounts and b) our joint account (this is where the DDs are set up). Will I have to change both personal and business accounts?

Help please

RR

[Sapphire]

Re: Business accounts

Do you have charges on the personal accounts that you wish to claim back ? If so speaking from personal experience (we had both business and personal accounts with Lloyds) I would transfer your personal stuff to a different institution.
The Nationwide do an excellent Flex account which we use solely for our household stuff, its excellent.

[Roadrunner]

Re: Business accounts

Hi Sapphire, I do have bank charges on the joint personal account which I will claim for later. however, I personally have £28k of unsecured debt and want to protect my OHs salary and my business income (little as it is at present).

Does that mean that A&L cannot take money out of my A&L commercial bank accounts. I need to be certain of this otherwise I will have to try to open new business bank accounts which isnot straightforward in our recession times.

[Sapphire]

Re: Business accounts

To be perfectly honest I do not really know the answer to that, I do know that one of my colleagues will know the answer though.

Personally I would seriously consider moving my personal banking to another place.

Its better to be safe isn't it.