| T O P I C R E V I E W |
| Rhiana |
Posted - 31 July 2009 : 14:28:00
My BR order is now through and I have been called to the OR for an interview on the 13/8/09. I am confused though - I have a bank account for my wages etc. When does this get frozen, and more especially between now and the 13th can I use the money in my account for everyday food, expenses etc? or am I supposed to leave it alone, if so how do I live for 2 odd weeks? I cant seem to make sense of this.
I am seeing the bank next week and they already aware that BR was looming, and agreed that I could have a basic account when it happens.
I also have some money in my daughters savings account as a result of a child tax credit back payment, this is for school needs, and towards her college admission next year - is this money safe as I am signatory, or can they remove it as part of assets? I am really worried about this and the bank said move it purely to her name, but if I do that now will it be seen as wrong in the OR's eyes? Please help I am really stressed, and altho I am relieved that the BR is through, this bit as a single parent is especially stressful! |
| 15 L A T E S T R E P L I E S (Newest First) |
| Skippy |
Posted - 02 January 2011 : 22:34:55
I presume it's directed at people who are still deciding the best way forward - IVA, BR or DMP.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
| angel220 |
Posted - 02 January 2011 : 21:48:34
Just had a look at http://www.revivauk.com/
and it says "avoid bankruptcy through an IVA". What does that mean? I am already in an IVA. |
| angel220 |
Posted - 02 January 2011 : 21:45:26
Hello again everyone
Hope you had a lovely Christmas!
I just started filling out the forms.
In form 6.28 Section 5, I don't think have an accurate breakdown to the monies owed to each and every creditor. I entered an IVA about 2 years ago and have been making payments on there for about a year or so. I suppose I could go with the original figures declared at the time.
And then there's the question about the names of the tenants. I don't own a property, I am renting a room (as a private tenant). I do know all the tenants by their first names but just not their surnames. It'll be awkward asking around for their surname even if I tell them what its about. So is that really necessary?
I also noticed that a question where I have been asked about the previous addresses where I had accumulated debt. Is there a chance of these previous addresses being notified after the BR?
And there's this small bit on Form 6.27 1f. Since I am unemployed and haven't been self-employed how should I answer that question? The question mentions something about "The centre of main interests being in England and Wales/having an established in England and Wales etc.
Going back to the process of declaring BR, how does it go? I am in London.
After I get my Cashminder account, do I ask the Smile/Coop Bank to transfer everything over to the Cashminder account or will I have to withdraw any money in the account, cancel direct debits etc and notify Housing Benefits and JSA to change the account details over to the new account? And if the process takes time, how can I prevent the money being sent to my Smile Account in the meantime?
Also will I have to tell my OR about my travel intentions? And will I have to keep him/her informed on a regular basis of my progress, income and so forth?
Is the BR process as straightforward as walking in, paying the money, handing the form and getting it all done within the day? And can I pay them with my Smile Debit card or cheque or will it have to be cash?
I know that's a lot of question for a Sunday :)
Thanks ever so much. |
| Bigal4787 |
Posted - 19 December 2010 : 10:44:50
Hi angel220,
as Richard said, you should open your cashminder account before declaring bankruptcy, with direct debits and standing orders in place so that you don't have the drama of your salary being used to offset any debit balances. Having interviewed numerous people who didn't do this beforehand only to find themselves without the means to pay priority debts etc once bankrupt, I can definitely say you should have the account up and running.
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
|
| Richard P |
Posted - 18 December 2010 : 17:15:56
cashminder account tend to be mostly referred as the call centre tends to only have knowledge of general accounts.
I think that cashminder have to go through special department hence the call back system
has been ongoing discussion point when to open cashminder account, no right or wrong time but fro smoothness i would say about 4- 8 weeks before then you can arrange for the direct debits you wish to keep to be opened before court. ths allowing pay or benefits to be paid into correct account.
Richard |
| Viki.W |
Posted - 18 December 2010 : 16:16:29
No don't worry, most of them are referred, mine was. You'll be fine. And yes, you should do it before bankruptcy.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| angel220 |
Posted - 18 December 2010 : 15:29:10
Thanks everyone.
I just phoned up the COOP and applied for a cashminder account. It came back referred, so I was asked to phone back in about 3 days. I wasn't upfront about needing it to declare Bankrupt, I just said my financial circumstances might change.
My account is overdrawn by about £200 at the moment. But that's only temporary until I get my benefits paid in.
Also should I be concerned about applying for a Cashminder account before declaring bankruptcy and about why my application came back as referred?
Thanks.
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| Viki.W |
Posted - 18 December 2010 : 15:17:19
Same with me, they are a great bank and the cashminder is a good account. Just phone co-op and tell them of your situation and do everything before court.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| Richard P |
Posted - 18 December 2010 : 14:02:00
Hi Angel
I would take the time to transfer DD your self, you do not want the bank to accidentally transfer the payment for one of the credit cards that you will be leaving during bankruptcy.
Coop have been really helpfull with me, i have now transferred Home and car insurance. No credit checks and no sillyness about my situation of old.
Richard |
| Sarah.12 |
Posted - 18 December 2010 : 13:40:44
I have just opened a cashminder a/c and it's fab! Internet banking is very good, I didn't have an electron card tho, I had a visa debit card.. Happy days :)
Sarah |
| angel220 |
Posted - 18 December 2010 : 13:17:52
Hi Paul
I have a Smile Current Account with a £500 overdraft. How do I get this changed to a COOP Cashminder account? If I declare bankrupt will the CO-OP just close down my Smile Current Account or offer me to transfer my funds (benefits more like) to a COOP Cashminder account?
Thanks. |
| Reviva UK |
Posted - 08 August 2009 : 00:03:51
The card is an electron debit card so there are lots of places it is used. There are however some limitations with online purchases
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
| ling |
Posted - 07 August 2009 : 23:59:27
I have been successful with coop cashminder account, the person who took all my details was very friendly. Im just waiting now for the card next week, so as soon as I got it I will transfer my direct debits and tax credits to my new account. May I ask, would I be able to use the card over the counter? for transactions?
Thanx. |
| Rhiana |
Posted - 06 August 2009 : 19:40:33
My co op account is now opened and Im going to hand in to wages next week. I need however to set up internet banking so I can manage the account.Need to move all direct debts and standing orders as well groan! |
| Reviva UK |
Posted - 06 August 2009 : 10:42:43
Well done
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
