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Thehitman1977
Starting Member
United Kingdom
23 Posts |
 Posted - 16 October 2008 : 15:06:52
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If i am going bankrupt in a couple of weeks, when should i look at opening my new basic account? - i want to make sure any direct debits have a place to go before my current one is closed down + let my employer know so i can have my wages paid into the new one. Is there a set process for this or will it be dealt with by the OR? I dont want any new account closed down because of the bakruptcy just after i've opened it
Thanks
Hitman |
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tracy_b
Junior Member
United Kingdom
457 Posts |
Posted - 16 October 2008 : 15:13:07
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Hi Hitman,
I opened a bank account as sson as we were BR as i was told that you shouldn't open one beforehand. However some people on this forum have opened one up before and had no problems. You must disclose the fact that you are BR or about to be so that it wont be frozen.
Good luck
Tracy XX |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 16 October 2008 : 15:14:44
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Hi Hitman
The coop cashminder seems to be the account of the moment but you can open it before as some have done it just means that you will have to include it on your SoA and ask the OR not to allow it to be closed but also inform the Coop that you either intend to go br or your just ring them the day you do go BR.
From what i have heard the coop leave your account anyhow so that would be fine, just make sure when you do go BR that you inform the OR that your wages go in there and also the DD's etc come out also and you would like to keep this account.
I dont think it would be closed but it makes it a little more complicated when you have an old account that needs to be kept when you finally go BR as you dont want it frozen.
If you do open before BR take any extra monies out before your hearing just in case.
LOL
But i think you will be ok with the coop.
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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marka
Starting Member
6 Posts |
Posted - 16 October 2008 : 15:26:51
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hi hitman. going BR nov 5th an expert told me to get basic cash card account nationwide/coop so benifits can be cashed leave it dry just in case
good luck marka.
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Paul
Starting Member
United Kingdom
6 Posts |
Posted - 16 October 2008 : 19:47:05
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I am going to be filing for BR next week, and have been told that Barclays & co op offer basic accounts, they are both amoung my creditors with this in mind would they still let me open an account. If they wont can anyone advise me of any bank that will.
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 16 October 2008 : 20:09:59
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Hi Paul
I have phoned Lloyds TSB today and they have said you can have a basic account with them. I use the coop now as my main account, however i just wanted an extra account so clothes, prescription etc. money doesnt get mixed up with bills money
Jenny
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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siobhan
New Member
United Kingdom
66 Posts |
Posted - 16 October 2008 : 20:11:18
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| heard that abbey do too, but will let u know tomorrow as going to sort out our bank act, we informed natwest who we have no debt with, and had organised all DDs, wages etc. looks like we're gonna have to sort it out all over again :( |
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Paul
Starting Member
United Kingdom
6 Posts |
Posted - 17 October 2008 : 14:22:02
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Hi Jenny
Thanks I spoke to tsb on Wednesday and they informed me that I couldn’t open an account with them until 1 year after BR.
But after all that My Dad has got an account he hasn’t used for ages, which is a bonus, as I still need to pay standing orders.
Its mad though don’t you think you would have thought any bank would give a simple account for BR clients, as you still need to manage your finances & they will earning money in interest from you still.
How long does the whole process take, as I will be filing next week.
And that must be a hassle having to do that all over again.
Paul x
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 17 October 2008 : 14:31:42
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Hi Paul
Thats really weird because i got my new debit card today and phoned them to double check i can definitely have the account and they said because its such a basic account that it would be fine. Its not fair that they are giving each individual person different info.
Are Lloyds Tsb one of your creditors ?
Im very cynical and believe that we are too low rist once we are br, as they can not 'sell' any products to us 
I phoned towards the end of September and got my app for Monday 13 October, but each area is different and some even have a walk in service. I did all my forms through the insolvency website which was a whole lot easier, you just fill in the info when you have it, and can even save it and go back to it another. I only submitted mine a few days prior to br, just in case there were any last minute changes to me made.
I know this sounds obvious but do not forget your money whatever you do. My app was for 12 and i got there 15 mins earlier, and was out for 1.30, thats including speaking to OR office on the phone. It really is as easy as everyone here says it is.
Does this help a little?
Jenny
xx
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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Paul
Starting Member
United Kingdom
6 Posts |
Posted - 17 October 2008 : 17:45:24
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That is very bizare, you would haver thought they would givethe same advice to all.
I was going to fill out the form when they sent, but now knowing you can do it online will be easier thanks for advice.
I defo wont forget the money.
Thats no long at all is it really, I was told that i might have to pay into the br pot for three years, is this right and if so how much do they look for.
Paul x |
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Paul
Starting Member
United Kingdom
6 Posts |
Posted - 17 October 2008 : 17:47:16
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Doh!!!!!!!!!! no they are not one of my creditors either.
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 17 October 2008 : 18:06:59
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Hi Paul
If (after all household expenditure has been accounted for - i.e. prescriptions, glasses, hair cuts, clothing, housekeeping etc etc etc) you have £100 or over you will have to pay 50-70% over to the IPA for 3 years. You will still be discharged after the year, but will be paying for an additional 2 years after that.
Hope this helps
xx
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 October 2008 : 18:10:38
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Hi sorry to add to your reply Money worries but the IPA for 3 years starts from when the OR sets it up which could be 2, 3 or 4 months after you have been declared BR that means that if they dont set it up for a few months then its not 2 years after discharge that it would end but 3 years after it starts.
EG:
BR 1/1/08
IPA starts: 5/5/08
Discharged: 1/1/09
IPA Ends: 5/5/2011
Sorry i just had to add this in :-)
LOL
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 17 October 2008 : 20:17:01
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Hey Jo
Thanks - you say it so much better than me - so all i had to say is, it goes on for 3 years from the start date. Durrr
Thanks Jo - i really go all round the houses sometimes 
xx
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 October 2008 : 20:18:38
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Hi MW
Its ok we are all learning :-)
I am no expert really i am just like you, finding out more each day:-)
LOL
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 17 October 2008 : 22:28:26
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I chased my OR to get the IPA started - I knew I was getting one, and I didn't want it to drag on any longer than necessary. It still took 3 months.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
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Topic |
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Iopening my new basic account?
