| Author |
 Topic  |
|
|
shazzles
New Member
79 Posts |
 Posted - 05 April 2009 : 22:11:58
|
Well im making my first step tommorrow and opening a new account prior to facing bankruptcy.
My question is this, from experience which account is better to open, I am currently with natwest and I have been told that i can open a step account that will be perfectly safe, but i have also been told that a co-op cash minder account is a good one aswell.
Will funds that are placed in either of these be safe ie: not frozen when i do go bankrupt??
|
|
|
chester2005
Average Member
United Kingdom
786 Posts |
Posted - 05 April 2009 : 22:19:52
|
I can only speak about the COOP cashminder account from experience and its great, direct debits online banking and a visa electron card.
COOP definately seem to be the most BR friendly
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
Life's too short!!! |
 |
|
|
markm
Junior Member
United Kingdom
115 Posts |
Posted - 05 April 2009 : 22:23:02
|
Hi shazzles...
Im not an expert in BR... But I think it depends on your OR & trustee... whether they freeze your bank accounts... Some do & some dont...
In my BR... my bank account wasnt... (not that i ever had anything in it anyway)
I beleive the coop cashminder bank account is what is recomended... when you are a BR...
Not sure about before though...
my regards lil shaza. (markm)
|
|
|
|
ripski
New Member
United Kingdom
90 Posts |
Posted - 06 April 2009 : 06:56:36
|
As the others, I opened a Coop cashminder anditisgreat I thinkitisthe only basic account that offers an electon facility (to pay shopping etc)and you get Online banking for bills
I was made BR last weekand the OR said they would not freeze it as it had no O/D or cheque book.
ripski1 |
|
|
|
shazzles
New Member
79 Posts |
Posted - 06 April 2009 : 07:45:11
|
| thankyou all for your replies. I am today going to open a co-op account ahead of bankruptcy. Do I have to inform them that i will be going bankrupt in the future?? |
|
|
|
John
New Member
United Kingdom
73 Posts |
Posted - 06 April 2009 : 07:52:43
|
Hi
you don't have to but they are very bankruptcy friendly so I would.
John White
England Jackman & Spacey |
|
|
|
shazzles
New Member
79 Posts |
Posted - 06 April 2009 : 12:58:39
|
I called them and they said my account will be open by the end of this week. And, yes John you are right they were very friendly and helpful.
Now all i have to do is wait for my account number and get all my dd and stuff set up with the new account and draw all my money out of my natwest account before any default notices of my iva come to my door or creditors file for my bankruptcy before I do it!!!
|
|
|
|
shazzles
New Member
79 Posts |
Posted - 06 April 2009 : 13:02:50
|
| Forget to say about a funny occurance that happened, i applied for the natwest similar account before i got the co-op and when i got to the end of the application it refused me because it said about bankruptcy, i am guessing that this is because i mentioned it to them the other day when first enquiring about it. They said that my current account was fine and there was nothing on that..weird huh! |
|
|
|
mick1972a
Junior Member
235 Posts |
Posted - 06 April 2009 : 13:18:19
|
Hi just opened a co-op cashminder acc over the phone, they were very friendly. I am not going BR until the 29th of April so I take it I do not get my pay and stuff paid into this account untill after that date and also not to put it down as an account on the BR forms.
Mick |
|
|
|
shazzles
New Member
79 Posts |
Posted - 06 April 2009 : 13:22:42
|
Hi Mick
Im not going bankrupt until after i get my default notice which will be about begginning of May BUT i want to get my account fully functional with bills and payins before then as it will save me alot of hassle around the "crunch" stage! |
|
|
|
alisone
Starting Member
40 Posts |
Posted - 06 April 2009 : 19:54:24
|
If I were you, I would get pay and direct debits switched to the Co-Op prior to BR as that account will probably be the safest place for them to be. Can I also say that I DID declare my Co-Op account on my BR forms - and also the fact that it had £600 in it - and at no point has it been frozen or has any money been seized.
|
|
|
|
mick1972a
Junior Member
235 Posts |
Posted - 06 April 2009 : 20:12:58
|
| Thanks Alistone. I am getting paid the day before I go BR so paying rent and stuff on pay day then withdrawing everything thats left same day. |
|
|
| |
Topic |
|
bank accounts
