| T O P I C R E V I E W |
| flyingpud |
Posted - 24 June 2010 : 11:26:33
I have several credit card payments successfully being paid by DD or is it standing order, whatever, they take their money each month. Is there any way I can get them to stop taking their money before I have a bankruptcy judgment without going to the max of my small overdraft limit and incurring heaps of bank fees. I am in good standing with my bank.
On invalidity benefits and being subbed by my partner. (really he is paying the interest on my credit cards) So sick of being disempowered and obligated.
Your advice will be appreciated.
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| 8 L A T E S T R E P L I E S (Newest First) |
| flyingpud |
Posted - 25 June 2010 : 12:26:48
I so appreciate your comments.
Thank you very much.
Flyingpud |
| Richard P |
Posted - 25 June 2010 : 11:25:06
Hi G.O.O.D
ref bank account i think that it is one of those things that their is not a right and wrong.
I did list my coop account on my SOA I listed that i had opened it only a few months earlier and i would like to use the account. I did not experience any difficulties with the account.
totally agree with you that you must make the OR aware of all bank accounts, it could also add other thoughts to timing of declaring bankrupt, week before payday not day that you are paid just in case of any complications with bank accounts.
regards Richard |
| gettingoutofdebt |
Posted - 25 June 2010 : 10:39:02
A lot of people open a Co-op Cashminder account before declaring BR but don't list it on the SOA. This is something that I did and transferred any DDs and my salary to be paid into the Cashminder account a couple of weeks before I declared BR.
When I spoke to the OR's Assistant on the day of my hearing I mentioned that I had opened the Cashminder account and there weren't any problems. The account wasn't frozen and there was never any suggestion from the OR that I had tried to hide the account by not putting it on the SOA. |
| Richard P |
Posted - 25 June 2010 : 10:04:51
sorry flying pud disagree COOP are BR friendly, yes the small print says they may under guidance of Or close the account but in practise they do not clsoe the account.
if you do not have any debts with Co-op it is good to draw a line and fresh start, open account now then you can get benefits paid in and sort out standing orders that you need to keep after Br (rent utilities etc)
as long as you tell COOP that you plan to go BR in the next 6 months they will give you the flexibility you need.
they did not freeze my account or my wifes account.
Richard |
| flyingpud |
Posted - 25 June 2010 : 04:48:55
I have since found out, best not to open a cashminders account before BR as this could be frozen as well!
Cheers
Flyingpud |
| flyingpud |
Posted - 25 June 2010 : 02:05:05
I didn't understand that I could cancel the direct debits.
No wonder I am in this mess  , that and the headlight in the rabbit's eyes syndrome.
Gettingoutofdebt: I value your words of experience. Thanks
Richard P: Yes Richard, I concur with you. I have made 110% effort to keep under my overdraft. The 'good standing' to me means I still have an over draft limit. I know there are no favours or special treatments these days. (I'm with Nationwide). I think I will open a cash minder account before I talk to my bank. I haven't any idea how long the benefit office will take to transfer my fortnightly payments from my bank to the Cash Minder card. Of course the worst nightmare will be to end up with no available cash for a week/s.
Once again thank you for your advice and comments.
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| Richard P |
Posted - 24 June 2010 : 15:01:08
hi flying pud
sorry to be to the point, you are only in good standing with your bank as you have money in the account. if they are not a BR friendly bank (set by head office) they may not want your custom, regardless of your standing.
cancel all of the direct debits and standing orders get a copy of all of the confirmed cancellations, if you have a good relationship with the bank tell them the reason for cancelling the orders and that any charges they levy with your account will be included in your bankruptcy.
ask the bank if they have a special account for potential bankrupts if not contact coop and open a cashminder account.
good luck
regards Richard |
| gettingoutofdebt |
Posted - 24 June 2010 : 14:40:50
Go to the bank and cancel the DDs or you can normally do it online if you have Internet Banking. I cancelled all of mine online about 3 months before declaring BR. |
