| T O P I C R E V I E W |
| sueann |
Posted - 09 June 2008 : 19:45:27
Another question, sorry I am reading through posts and questions keep popping up.
When I applied for the IVA I closed out my old account and opened a co-op cashminder account, my salary now gets paid into this. Should I clear this account before my BR appointment? I am planning to book my appointment for the beginning of August and my salary would have just been paid in. |
| 8 L A T E S T R E P L I E S (Newest First) |
| sueann |
Posted - 10 June 2008 : 15:00:18
Julian thank you for all your wonderful help, reading through all the back posts and other peoples experiences has taught me alot and now I seem to have got a grip of the form the only concern I have is losing my Cash Minder account I am hoping that me and the OR can sort this out. I will call the Co-Op a couple of days before my BR explaining.
As I have to wait until the beginning of August for my BR appointment I will write to all my creditors end of this week once the appointment is firm giving them the date and court as I can not stand another 6 weeks or so of constant phone calls and letters at least my intensions are all in the open. |
| JulianDonnelly |
Posted - 10 June 2008 : 13:37:23
Hi Sueann,
You shouldn't have a problem with this. It will be worth you notifiying the bank prior to your BR as it seems to be standard banking practice to freeze all accounts on publication of your BR in the London Gazette and the Stubbs Gazette until they hear from the OR.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| sueann |
Posted - 10 June 2008 : 13:35:28
All my direct debits etc will have been paid before the 4th I will take the remainder of the cash out and can explain that as BR costs and living expenses for the month, I just want to keep this account after BR and have put a note to the effect on extra information that this is the BR friendly account I opened when I was advised to close my current bank account down. It will probably be around the £900 mark that i withdraw. |
| JulianDonnelly |
Posted - 10 June 2008 : 13:18:12
Hi Sueann,
I had a case last year where the guy got paid the day before BR and had £800 in his account. We spoke to the OR traight away and advised this money was needed for rent, bills etc and he had no issue with the client withdrawing the funds. Had it been a few thousand pounds, he may have thought differently!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| m and v |
Posted - 09 June 2008 : 23:23:05
Hi sueann - I was advised to put nil on my SOA for cash in hand and I had £10 in my bank account at the point I went to court.
The OR won't expect you to have much money in your account and will see from your bank statements how your wage goes in and everything goes out!
Take care
Vicki x |
| sueann |
Posted - 09 June 2008 : 20:44:02
quote:
Originally posted by m and v
Ok - what I would do is talk to the co-op. As you know they are a BR friendly bank. Explain you are going BR and would like to keep the account running after BR.
The OR will contact them and say they have no interest in the account (unless you have got thousands stashed away in there!)
Most banks freeze the account as soon as they see you are BR (in the press on insolvency service website etc) and wait for the OR to contact them to express no interest.
Now as co-op are one of the good guys they may not freeze your account or if they do it should hopefully be for just a short time.
When you speak to the OR after going BR (seems most have a quick telephone conversation with you on the day you go BR) they will check you have access to money and are not going to struggle - at this point you will have time to withdraw funds if you need to.
The OR will understand you need an account and contact the bank promptly to prevent any delays.
Hope this helps - don't panic!!!
Vicki x
Ohh thank you I was just at melt down point having just changed eveything and hearing they are the best, all I will have in the account is salary nothing else, depending on the day of the meeting how much will be in there as I have all my DD and SO's go out on the 1st of each month, I'll arrange for my appointment few days after that and make sure that there are not much funds in there. On the form you need to put in an amount, so do I not finalise my form until the day before I go or is this a approx figure for the BR & OR? I am not sure what to put on the form, I signed up to do it on-line. |
| m and v |
Posted - 09 June 2008 : 20:36:29
Ok - what I would do is talk to the co-op. As you know they are a BR friendly bank. Explain you are going BR and would like to keep the account running after BR.
The OR will contact them and say they have no interest in the account (unless you have got thousands stashed away in there!)
Most banks freeze the account as soon as they see you are BR (in the press on insolvency service website etc) and wait for the OR to contact them to express no interest.
Now as co-op are one of the good guys they may not freeze your account or if they do it should hopefully be for just a short time.
When you speak to the OR after going BR (seems most have a quick telephone conversation with you on the day you go BR) they will check you have access to money and are not going to struggle - at this point you will have time to withdraw funds if you need to.
The OR will understand you need an account and contact the bank promptly to prevent any delays.
Hope this helps - don't panic!!!
Vicki x |
| sueann |
Posted - 09 June 2008 : 19:54:14
Or do I give my bank account details as the account I have just left (First Direct)? GOSH I am starting to panic again I don't want to lose my cash minder. |
