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acm
Junior Member
United Kingdom
274 Posts |
 Posted - 26 February 2009 : 12:46:39
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Hi all
I have a basic cashminder account with the coop which I took out nearly a year ago as I knew I was at some point going to go BK. I have had no problems running the account (unlike my Nat West). In your opinion as I have not been a problem to them, do you think they will let me keep it when I go BK on 23 March 09? And if I should contact them before this date, should I speak to the local branch or phone head office. My local branch give me the feeling I may not be wanted by them if I told them. A bit snobby if I tell the truth. It is the York branch if this makes any difference. Any advice is welcome. Thanks, Andy |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 26 February 2009 : 14:31:44
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If this account does not have an overdraft facility and is not linked to any of your other debts (ie no co-op credit card or loan ) there is no need to list it on the forms, list bank accounts that you have a debt with only. When you have your telephone meeting with the OR you can let them know at that point that you have an account set up for pay etc. This enables you to go through the process without having your account frozen for a short period. These steps though are only for an account which is operated in credit with no overdraft facility, therefore you are not withholding any informtion or creditors from the OR and your bankruptcy.
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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Almost there
Junior Member
United Kingdom
288 Posts |
Posted - 26 February 2009 : 17:45:13
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Hi Melanie
I opened a coop cashminder account about 3 weeks before I went BR. I didn't inform them that I was going BR. I listed it on my SOA form and the OR asked me if I had told the coop that I was BR, I said 'no'. He advised me to inform them otherwise the account will be frozen. Is it necessary to do this, I don't really want to tell them in case the account gets frozen anyway. Will the OR make contact with them, bearing in mind it is only a basic account with no borrowings?
Thanks
Sandie |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 26 February 2009 : 17:56:27
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Hi almost there - if the account was listed on the forms the OR will write and notify of the bankruptcy which will proabably result in the account being temporarily forzen - a phone call from the OR will usually do the trick though!
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 26 February 2009 : 19:52:52
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I thought you had to declare all bank accounts on the SOA, whether they were creditors or not?
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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fabh
Starting Member
4 Posts |
Posted - 26 February 2009 : 20:06:53
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Hi Andy,
I did list my cash account with ltsb on my Bankruptcy forms as CAB advised me to, but I spoke to them before I attended court & they agreed since I had no overdraft facility & had ran the account well I could keep it. I also wrote this on my bankrupcy forms in the additional comments so that the OR was aware & 4 weeks later I haven't had any problems.
Hope that helps
Francesca
quote:
Originally posted by acm
Hi all
I have a basic cashminder account with the coop which I took out nearly a year ago as I knew I was at some point going to go BK. I have had no problems running the account (unlike my Nat West). In your opinion as I have not been a problem to them, do you think they will let me keep it when I go BK on 23 March 09? And if I should contact them before this date, should I speak to the local branch or phone head office. My local branch give me the feeling I may not be wanted by them if I told them. A bit snobby if I tell the truth. It is the York branch if this makes any difference. Any advice is welcome. Thanks, Andy
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acm
Junior Member
United Kingdom
274 Posts |
Posted - 27 February 2009 : 12:47:08
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Wow Melanie
Thank you for that advice. As I said on another thread, I am just sitting here filling out the SOA and would have put my cashminder account on if you had not said otherwise. I have no credit facility whatsoever and only use it as a basic business account to bank customer cheques and business direct debits as I am self employed. It would cause me problems to declare this and have it frozen and as it is not related to any of my old debts I am pleased I do not have to declare it on the forms. Once again thank you. Regards, Andy |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 27 February 2009 : 13:17:22
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There is absolutely no problem with doing it the way i suggested ie not listed, in fact it is a darned sight easier for everyone OR included, to not have to freeze then unfreeze an account (although it is not the OR that freezes the caccount but the bank on receipt of the OR's letter, but the OR would have to contact to arrange for the account to be unfrozen, depending on the speed and helpfulness of the particular examiner in the OR's and the bank thi can take anything from 24 hours to a week! so save yourself the hassle! don't put n the forms, but do advise the OR when you have your telephone chat that you have set up the new basic account for pay etc
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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Almost there
Junior Member
United Kingdom
288 Posts |
Posted - 28 February 2009 : 12:48:53
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| Hi, after writing my post on Thursday I did telephone the coop and tell them that I am BR, they said no problem, the account won't get frozen and we believe that everyone deserves a second chance. So at least I have told them. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 28 February 2009 : 13:12:08
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What a nice thing for the Co-op to say!
A pity the other banks aren't like that.
The glimmer gets brighter all the time
Jan
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Cashminder Account
