| T O P I C R E V I E W |
| mst |
Posted - 09 July 2008 : 14:44:28
Hello again everyone,
I had another meeting with a debt advisor from the CAB this morning, the purpose of the meeting was to look over the pencil drafted SOA and petition for bBR forms. He was happy with what I had done and apart from a couple of minor amendments the forms are more or less ready.
When I called the court today for a hearing date expecting to wait several weeks they have appointments for tomorrow and next week. It's unlikely I will have the forms ready in time to take tomorrow's appointment but if I take next weeks (17th) I am not leaving myself very much time to sort out my finances.
I have yet to open a Cashminder account and my wages are paid on 24th of the month. Does anybody have any advice as to when is the best time to open the account, should you do this after the court date or beforehand? My existing nationwide overdraft is going to be included as a creditor and no doubt this will be frozen soon after the hearing.
If anybody can think of anything other than the completed forms and the fee that I need to have prepared before the court date please let me know. My boss is now stressing me by making sure that this is all sorted out before I have to go off to Manila for a year.
Thx mst |
| 15 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 11 July 2008 : 11:26:31
Great advice guys!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| eldraque |
Posted - 10 July 2008 : 18:23:03
I opened my co-op account several weeks before i went br, the timing is not important, as long as you phone the co-op as soon as you can after going br then they will make a note of it on your account and they wont freeze it when your name is published, they only freeze it if they dont know about it. They will also freeze it if your o/r asks them to, but he will only ask them to do this if youve got stacks of cash in the account, so open it now, keep the bare minimum of cash you ned to pay your bills and then inform the bank as soon as you go b/r and everything should be fine. |
| sueann |
Posted - 10 July 2008 : 17:52:56
quote:
Originally posted by GARY2
I opened my cashminder account one month before BR then after court date i rang the up and told them. Also told the OR about it and both were fine.
Wow thats good news, I opened my Cashminder account end May when I thought I was gonna go with an IVA, I've explained this in additional info on my BR forms for the OR and I am going to phone the Co-Op a couple of days before my BR just to advise them what Ive done so hopefully there should be no problems keeping the account as the OR will have no interest with the Co-Op (they are not a creditor). I have also planned my BR date carefully after all my DD's have gone out and to give me time to withdraw some essential living funds until it's sorted. If worse comes to worse I still have plenty of time to sort things out before my next salary date. |
| Ian Richards |
Posted - 10 July 2008 : 17:48:07
I have to say that i have helped many people through Bankruptcy and always advised that they open a new account no longer than a month before BR and up until now i have never had any bank close accounts on my clients. However this may be down to the fact that i generally get them to use Barclays cash card or Thinkbanking. But given this, i have still used the others that have been mentioned. |
| GARY2 |
Posted - 10 July 2008 : 17:14:01
I opened my cashminder account one month before BR then after court date i rang the up and told them. Also told the OR about it and both were fine. |
| John |
Posted - 10 July 2008 : 16:18:53
Hi mst
firstly, approximate dates, marked as such, on your SoA are perfectly acceptable and will negate the need to contact the creditors in the first place.
Further, if you would prefer to be spot on with the dates and so you do call them, you can tell them exactly what's happening and this will have no effect at all on your case. |
| mst |
Posted - 10 July 2008 : 13:55:26
Many thanks Julian.
This is excellent news. This should therefore mean that the day after my hearing I will be able to open my Cashminder account and inform work that this is where my wages need to be sent (and also set up direct debits for Utility bills and rent.
I hope you don't mind me having a follow up question. I need to contact my creditors to find out the dates on which I obtained my credit cards (info required for SOA). They are already threatening certain things with me and I know that when I call to enquire about the account start dates they are going to want to discuss why I am currently not paying them what they want. Will it damage my case in anyway to tell them what I am doing and the date of the hearing? I don't want to do anything that would undermine my case.
Many thanks for your continued help.
Mst |
| JulianDonnelly |
Posted - 10 July 2008 : 13:47:53
Hi MST,
When you open your new account, you are required by law to inform them you are an undischarged BR (I would also take a copy of your BR Order with you). Therefore, the ad will just tell your bank something they already know, and as the account was opened post-BR, they won't be affected.
Hope this clarifies things.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| mst |
Posted - 10 July 2008 : 13:42:33
Sorry Julian I am confused.
If it can take 1-2 weeks for the ad to be placed and the accounts frozen how can I open account the day after the hearing? Would this account not be frozen with the others 1-2 weeks after the hearing?
Apologies if I am being dense.
mst |
| JulianDonnelly |
Posted - 10 July 2008 : 13:04:34
Hi MST,
Accounts are frozen on publication of your BR in the London Gazette and the Stubbs Gazette, so it does depend on when the OR gets round to placing the ad. I would expect 1-2 weeks.
You can open up your new account straight after your BR hearing. I did mine the day after without any problems.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| mst |
Posted - 10 July 2008 : 12:54:45
Well I have just found out that today is the cut off date to change the bank details into which my salary is paid and the HR representative concerned is on our Tiverton office for the day. Therefore it is unlikely I will get next months salary paid into my Mother's account so I will get 1 month behind with the bills.
If I am able to get my wages paid into my Mum's account how soon after my court hearing next week (17th July) will it take for my accounts to be frozen and how soon after my court hearing can I get my Co-Op account up and running?
I'm really panicking now as I don't want my utility bills/phone bills/rent etc all getting behind. I was thinking that if my wages can go to my Mum's account then she can pay my urgent bills/rent and then once my Co-Op account is set up I can transfer over any remaining balance and pay the other bills.
I need the Co-Op account to be set up by 10th August so that I can get next months wages paid into this account.
panicking mst |
| JulianDonnelly |
Posted - 09 July 2008 : 17:46:11
Hi Mst,
I'm afraid the only other option would be to get a new BR appointment early next month to give enough time to set up new DDR's etc.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| mst |
Posted - 09 July 2008 : 15:14:48
Is there no other way of organising this? I want my work involved as little as possible and the thought of paying my wages into my Mum's account and having to organise all of the bill payments and then transferring it all over to a brand new account sounds very messy and prone to problems (especially as my Mother lives 2 hours away in Cambridgeshire). Surely a Cashminder account with no overdraft taken out specifically in order to ensure that my utility bills/council tax etc and wages are paid in on time is allowed in order to prevent having to adjust automatic wage payments twice in a month.
mst |
| 369 |
Posted - 09 July 2008 : 15:07:00
I would wait as well untill you are bankrupt.
I went Bankrupt in Nov 07, and I found this site the other day, and everyone said about the Cashminder account, I went in to the branch yesterday and opened up a new account in about 25 minutes!!!
So, i would try and get your wages paid into another account if I were you - a partner or relative? Then after the bankruptcy open up the Cashminder account and get your wages paid into there.
369 |
| scared |
Posted - 09 July 2008 : 14:52:29
Hi
You definitely need to wait until after BR to open your new account otherwise it will probably be closed after the order is made. |
