If you do not owe your existing bank any money it is unlikely you would need to change banks. However, if you have an overdraft or other debt with your bank then you will need change banks and arrange for your salary/wages to be paid into a new account. You should also transfer your essential direct debits to the new account, making sure not to transfer direct debits to the unsecured creditors included in the Trust Deed.
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected.
Free debt counselling, debt adjusting and providing of credit information services is available to customers by contacting MoneyHelper.