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AndyF
New Member
United Kingdom
95 Posts |
 Posted - 27 January 2009 : 19:38:58
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Hi All, another bit of info that may hopefully help others when searching, I had a Smile Current Account with Overdraft when I went BR last week, and was a little concerned about whether I'd be eligible for a Cashminder account due to the existing debt with the Co-Op 'group'.
Am glad to report that got my welcome pack today with sort code and account number, so yes, you can :-) I applied for my account by phone on day of BR, and they specifically asked if I had any accounts with them, and said yes, and they had all my details. In fact my online banking details didn't need to be setup as the same as my old Smile ones.
So if in doubt, the Cashminder seems the way to go, whether you had CoOperative debts or not. Hope this is of help to someone. |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 27 January 2009 : 19:49:20
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Hi
I spoke to my Official Reciever yesterday and he said that because I opened the coop account prior to BR the coop have rights to offset on the account, and he has seen in the past whereby Coop have done this, so advised to stay away.
Stu J Byron |
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AndyF
New Member
United Kingdom
95 Posts |
Posted - 27 January 2009 : 19:58:14
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| I think all banks have buried away terms that allow them to do similar, I think the key is when the account was opened. Because mine was opened after I was declared BR they have absolutely no rights to touch it because it's absolutely nothing to do with my debts pre-BR, that was my understanding, am sure someone will be along soon to word it properly! |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 27 January 2009 : 20:23:15
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Hey Andy
Thats great news, im please you got your details through so quick.
You will certainly be pleased with the account.
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
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givemestrength
Junior Member
United Kingdom
141 Posts |
Posted - 28 January 2009 : 07:30:37
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| hi, ive opened my co op account but not BR till end feb what does this mean please (that they have rights to offset) thanks v much. |
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AndyF
New Member
United Kingdom
95 Posts |
Posted - 28 January 2009 : 07:35:48
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I'm not an expert, but I believe that if you've opened in advance, the advice is to not use the account and keep it empty. then you explain to the OR what the account is for and you should be ok.
The only thing I was 100% on was that opening after meant it wouldn't get frozen, but of course left me without an account.
Better people than me will answer your questions more surely |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 28 January 2009 : 09:51:45
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Hi there
I opened my coop cashminder pre br. however did not use it until post br - i did not have debts with them, however they cannot offset debts once you are br.
Luckily my account did not get frozen, but as i opened it pre br i had to write it on my soa, and then told the OR who wrote to the coop saying they were not interested in the account.
Good luck
Jenny
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 29 January 2009 : 20:49:07
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I have heard about people being able to open a Co-op Cashminder account after BR, even when they had debts with the Co-op.
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/
18 IPA payments to go! |
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AndyF
New Member
United Kingdom
95 Posts |
Posted - 30 January 2009 : 05:37:59
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| Well it's deffo the case, Welcome pack in 8 days, Debit Card in 9, from a telephone application. All very happy |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 30 January 2009 : 10:09:30
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They never replied to my letter asking about that, so they're not in my good books!
I've been lucky though as Nationwide have let me use a pre bankruptcy (they weren't one of my creditors) Flexaccount with full debit card and cheque book so I'm only using the Co-op now for housekeeping.
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/
20 IPA payments made, 16 to go - on the home straight! |
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hanlou
New Member
United Kingdom
56 Posts |
Posted - 30 January 2009 : 14:57:30
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| hi all hubby and i went br over a week ago and before br we both had accounts with lloyds tsb we applied for co op cashminder which we have been accepted for.the or was very nice and said as she has no interest in the lloyds account as no debt, so if lloyds says yes we can keep it open.i phoned lloyds they said no problem but may have to have a more basic account but to go into my local branch did this yesterday and was told dont worry keep it the same as before br even keep my cheque book so just going with it now as before but they were really nicein fact since br everyone i had to speak to have been nice even the or so great weight off my mind anyone else had the same result |
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hanlou
New Member
United Kingdom
56 Posts |
Posted - 30 January 2009 : 18:53:53
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| ah thanks jo glad to see you back x |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 30 January 2009 : 19:44:16
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I spoke to the coop regarding the cash minder accoubnt, and the fact that I had debts with them prior to BR, and they put me through to the actual woman who underwrit my application and she reassured me that she was aware that I had a student overdraft debt, and that I went bankrupt, she was even aware of the day and was happy that they account was open prior to BR and she was happy for me to use the account, she put me through to the BR team at coop and they were happy too, ive had my wages paid in the other day and no problems good account and electron accepted everywhere well better than Think or One.
Even when I had my official reciever interview, which lasted ten minutes she was happy for me to use the account and because im going on benefits, she isnt bothered with my income or outgoings and no IPA with maybe early discharge in 7 months no guarantees though, all looking good from now on
Stu J Byron |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 30 January 2009 : 21:52:56
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I'm glad you've got things sorted out with the Co-op Stu. It's a good account and the Co-op customer service is excellent.
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/
20 IPA payments made, 16 to go - on the home straight! |
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Co-Op Cashminder With Existing Debts
