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singingsister
Starting Member
18 Posts |
 Posted - 16 July 2012 : 14:13:59
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Hi guys
Hubby and myself were made bankrupt in November 2011.
Our daughter has a Halifax basic savings account that has her money in (about £200).
The problem is, I am the trustee but as I work full time I cannot get to the bank to take money out/put money in etc.
We wanted to open her a children's savings account with Co-Op as that's who we bank with - with hubby as the trustee so he can get money out for her and things as he's not working.
Hubby got all the paperwork filled in in the branch and they've just called him to say they can't set up the account as because we're bankrupt WE cannot earn any interest.
My argument is that it's not US earning the interest, it's our daughter.
My father in law ocassionally pays money into our daughter's Halifax account which we use for things for our daughter (nappies etc) when we need to and moving her money (HER money) to Co-Op would make it easier for us to manage that.
What's the score. I know we are bankrupt but our 2 year old daughter isn't! What are we supposed to do? Keep her money under her mattress?!
Any advise or suggestions greatfully received!
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 16 July 2012 : 20:29:06
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Have you asked Halifax for a cash card?
Can you get in to the branch on a Saturday as most banks are open 9-3.30 on Saturdays.
Don't know what else to suggest, sorry.
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 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 16 July 2012 : 21:45:22
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Can you use internet banking to move the money between accounts?
View my blog at http://skippy13.blogs.iva.co.uk/
The more I have to do with humans the more I think that the world would be a better place if it was run by animals.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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year 2029
Average Member
590 Posts |
Posted - 17 July 2012 : 20:51:43
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SingingSister,
As has been said, online banking is the obvious answer.
I'm not sure about the "because we're bankrupt WE cannot earn any interest." statement.
I'm going through bankruptcy, and I have kept a savings account that runs alongside one of my main accounts, for everyday banking and online banking.
I also kept another 2 building society accounts. The only stipulation there, was I was unable to keep my cards, and had to do banking in branch ( I realise that doesn't help you ).
Out of interest, did you have a monthly amount to save in mind?
Hi Tracey,
I prefer your previous signature!
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
Edited by - year 2029 on 17 July 2012 20:53:59 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 17 July 2012 : 21:11:41
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Some banks and building societies don't allow savings accounts for bankrupts, the Co-op being one. I also couldn't open an account with Sainsburys bank.
Year2029, I've never met an animal I don't like, but sadly I can't say that about humans!
View my blog at http://skippy13.blogs.iva.co.uk/
The more I have to do with humans the more I think that the world would be a better place if it was run by animals.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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year 2029
Average Member
590 Posts |
Posted - 17 July 2012 : 22:54:41
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Oh well, I guess afterall the co-op does have its downfalls.
I've met some humans that could be an animal, but never one animal that could be human ;-)
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 17 July 2012 : 23:01:52
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They won't open up savings accounts for those in an IVA either - they reckon you should not be able to save money.
They will, however, open up a second cashminder for you.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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year 2029
Average Member
590 Posts |
Posted - 17 July 2012 : 23:34:54
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oh well, as I've said before, there are other accounts.
Everyones circumstances will be different.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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jono
Starting Member
United Kingdom
13 Posts |
Posted - 23 July 2012 : 20:48:09
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I got a Santander E savings account for myself and my daughter from Santander. This was 1 month after my discharge in sept 2010. There were no credit checks at all. I manage the accounts online.
Jono
To know the road ahead, ask those coming back. |
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year 2029
Average Member
590 Posts |
Posted - 23 July 2012 : 23:12:17
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You'd think every institution would want to encourage you to save money,even if it was £5 pcm.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 24 July 2012 : 06:45:27
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I still have a full account with Barclays even though they were a creditor and opened an e savings account with them with no problem.
It's just the Co-op that think you shouldn't be able to save.
My view is that some of your allowances that you don't use every month such as car tax, should be kept seperate from your day to day expenses so why not be able to have a savings account and earn a little interest before you have to use them.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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year 2029
Average Member
590 Posts |
Posted - 24 July 2012 : 11:03:00
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As it happens, I have a full account with my bank who are creditors with a credit card I had.
They've left the e savings account in place.
I agree, that the monthly allowances you save for yearly expenses, why not make a very small amount on it.
Plus, its a new way for most to run your accounts, compared to before going bankrupt.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Are we supposed to keep out daughters money under the mattress ?!
