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Getting things into perspective before the big plunge...
ChampagneCharlie
Posts: 29 Forumite
Hi Everyone
This is my first post, I'm abit nervous but here goes with my tale of disaster.
I have been reading this forum, as many before me no doubt, with a sense of relief as it has dispelled many of my irrational fears and inaccurate hearsays that surround insolvency.
However, there are still, I’m sorry to admit, quite a few question marks hanging over my predicament as my situation seems to me at least abit more complicated than some. I’m hoping that if I post the whole thing up here, some of you good & helpful people will shed some light into the corners where I’m still frightened of the unknown unknowns as Mr Rumsfeldt was so fond of saying.
The background to my situation is pretty standard though: own construction business, profitable, trading over 6 years then projects started drying up, tenders postponed/cancelled/not won … begin to over trade to compensate and start losing money … re-invest to keep show on road, this ‘drought’ can’t last forever, can it? … eventually have to throw in towel as overdraft maxed out, credit cards maxed out, etc etc. Another small business statistic and another set of dreams, hopes and hard graft up in smoke and I still can't help thinking where it it go wrong, why did I stop doing things right?
Though I might mention here before anyone says “how have you survived financially since?” that before I finally called time on my business in January this year I had got myself another job the previous July, so my mortgage and the interest payments on credit cards and other stuff was being serviced.
But only just, and although I haven’t had to endure the awful attentions as so many of you have of bailiffs and such, I have had an anxious wobble when a recent interim re-financing of my current account saw Barclays screw up the direct debit payments with consequent telephone calls & letters automatically triggered once the payments had failed. I was shocked how quickly & how hotly the credit departments of various suppliers were on my case.
Formally pulling the plug on my business of course meant that the company overdraft became payable on demand and critically it’s secured as a second charge on my house.
Inexplicably my bank has been extremely understanding in the circumstances, so far. I had to put my house on the market in April at its valuation of July the previous year - £500,000 – and had hoped that I would have been able to sell it by now. But the housing market crash allied to the credit crunch has halted all sales activity and especially in the case of pretty but remote cottages in the depths of the countryside.
Adding to my woes is that the Environment Agency now has an online flood warning graphic that shows every property in the land that could be at risk from flooding. And mine has a small river running right through the garden, so you can imagine how that looks! Its a further dis-incentive to prospective buyers – even though the house only got marginally wet during 2007’s catastrophic floods.
Anyway, what has propelled me faster than anything towards BR is the dramatic fall in equity I have sustained since I decided to sell. The property is now worth approx only £380,000 according to my experienced and trusted agent, and is still rapidly losing value. With a mortgage of £325,000, the company debt of £100,000 and £50,000 of other unsecured debt, it doesn’t take a maths genius to see that in the space of a few months I have become technically bankrupt. I owe more than I am worth, period and in becoming so am now eligible for bankruptcy. What’s more, as the economic situation deteriorates, interest rates increasing along with the cost of living, and the constriction of credit all-round, I am slowly suffocating in debt. It is beginning to impact on my realtionship with my OH and I do not want to fall into the trap on indecision. I know there’s now only one way out of this.
But now I come to the tricky bits, the ‘unknown unknowns’ that are the outcomes I am still in the dark about. I am going to list my concerns here in full. I would like to apologise in advance if some of my queries are obvious or nonsensical, but if anyone can throw even a smidgin of light on it, it’s a help – and may well assist other people downstream if they've managed to read this far.
Right here goes:
First, I would like to clear up one thing. I am pretty positive that bankruptcy is the right solution for me, not an IVA or any other type of debt management plan. In a nutshell I cannot afford an IVA or the IP that perforce come with them, am I correct?
Second, as part of the unwritten procedure in seeking bankruptcy, should I be following a path of some sort? Eg. I should have a meeting with my bank to explain my predicament and make an offer of some sort, but would I be expected by the Judge to have seen others too, like my mortgage holders the C&G and my credit card companies? Advice here particularly please.
Third query concerns my house. I do not, in fact, live in it but it does have long term tenants in residence. What would happen to their tenancy agreement? What if they refuse to move? Do they have any legal right to remain?
Fourth, the home I actually live in belongs, (and always has done) to my wife. I am assuming this would be exempt in any bankruptcy order, even though I contribute towards its upkeep which I shall have to reflect in my SOA.
Fifth, and regarding SOA’s. If I can prove that my outgoings, even shorn of my debt burden, leave very little surplus, will the Judge impose some repayment schedule irrespectively? My shortfall will arise mostly because I will have to re-house my tenants (dependent relatives who run my house as a b & b & will lose their income if made homeless) and I no doubt I will have to provide them with some on-going income as well until they get back on their feet.
Six, my bank accounts will be frozen, I realize. My employers have kindly agreed to pay my salary elsewhere when necessary and since my car is company owned, I will retain that presumably. The consensus in this forum seems to be that Barclays or Nationwide or the Co-op are the only sanctuaries for undischarged bankrupts. Since my creditor bank is Barclays anyway, I doubt they will be keen to continue to harbour me, so of the two remaining, which would be my best bet? Or would I be better off sharing my OH HSBC bank account (if that’s possible?) since then at least I would, I imagine, be able to maintain DD’s and SO’s and have online facilities.
And that’s it, I think. If there are other issues I have missed out inadvertently, please can someone point this out?
Thanks to all of you who have read this whole diatribe. Any helpful comments would be gratefully received.
This is my first post, I'm abit nervous but here goes with my tale of disaster.
I have been reading this forum, as many before me no doubt, with a sense of relief as it has dispelled many of my irrational fears and inaccurate hearsays that surround insolvency.
However, there are still, I’m sorry to admit, quite a few question marks hanging over my predicament as my situation seems to me at least abit more complicated than some. I’m hoping that if I post the whole thing up here, some of you good & helpful people will shed some light into the corners where I’m still frightened of the unknown unknowns as Mr Rumsfeldt was so fond of saying.
The background to my situation is pretty standard though: own construction business, profitable, trading over 6 years then projects started drying up, tenders postponed/cancelled/not won … begin to over trade to compensate and start losing money … re-invest to keep show on road, this ‘drought’ can’t last forever, can it? … eventually have to throw in towel as overdraft maxed out, credit cards maxed out, etc etc. Another small business statistic and another set of dreams, hopes and hard graft up in smoke and I still can't help thinking where it it go wrong, why did I stop doing things right?
Though I might mention here before anyone says “how have you survived financially since?” that before I finally called time on my business in January this year I had got myself another job the previous July, so my mortgage and the interest payments on credit cards and other stuff was being serviced.
But only just, and although I haven’t had to endure the awful attentions as so many of you have of bailiffs and such, I have had an anxious wobble when a recent interim re-financing of my current account saw Barclays screw up the direct debit payments with consequent telephone calls & letters automatically triggered once the payments had failed. I was shocked how quickly & how hotly the credit departments of various suppliers were on my case.
Formally pulling the plug on my business of course meant that the company overdraft became payable on demand and critically it’s secured as a second charge on my house.
Inexplicably my bank has been extremely understanding in the circumstances, so far. I had to put my house on the market in April at its valuation of July the previous year - £500,000 – and had hoped that I would have been able to sell it by now. But the housing market crash allied to the credit crunch has halted all sales activity and especially in the case of pretty but remote cottages in the depths of the countryside.
Adding to my woes is that the Environment Agency now has an online flood warning graphic that shows every property in the land that could be at risk from flooding. And mine has a small river running right through the garden, so you can imagine how that looks! Its a further dis-incentive to prospective buyers – even though the house only got marginally wet during 2007’s catastrophic floods.
Anyway, what has propelled me faster than anything towards BR is the dramatic fall in equity I have sustained since I decided to sell. The property is now worth approx only £380,000 according to my experienced and trusted agent, and is still rapidly losing value. With a mortgage of £325,000, the company debt of £100,000 and £50,000 of other unsecured debt, it doesn’t take a maths genius to see that in the space of a few months I have become technically bankrupt. I owe more than I am worth, period and in becoming so am now eligible for bankruptcy. What’s more, as the economic situation deteriorates, interest rates increasing along with the cost of living, and the constriction of credit all-round, I am slowly suffocating in debt. It is beginning to impact on my realtionship with my OH and I do not want to fall into the trap on indecision. I know there’s now only one way out of this.
But now I come to the tricky bits, the ‘unknown unknowns’ that are the outcomes I am still in the dark about. I am going to list my concerns here in full. I would like to apologise in advance if some of my queries are obvious or nonsensical, but if anyone can throw even a smidgin of light on it, it’s a help – and may well assist other people downstream if they've managed to read this far.
Right here goes:
First, I would like to clear up one thing. I am pretty positive that bankruptcy is the right solution for me, not an IVA or any other type of debt management plan. In a nutshell I cannot afford an IVA or the IP that perforce come with them, am I correct?
Second, as part of the unwritten procedure in seeking bankruptcy, should I be following a path of some sort? Eg. I should have a meeting with my bank to explain my predicament and make an offer of some sort, but would I be expected by the Judge to have seen others too, like my mortgage holders the C&G and my credit card companies? Advice here particularly please.
Third query concerns my house. I do not, in fact, live in it but it does have long term tenants in residence. What would happen to their tenancy agreement? What if they refuse to move? Do they have any legal right to remain?
Fourth, the home I actually live in belongs, (and always has done) to my wife. I am assuming this would be exempt in any bankruptcy order, even though I contribute towards its upkeep which I shall have to reflect in my SOA.
Fifth, and regarding SOA’s. If I can prove that my outgoings, even shorn of my debt burden, leave very little surplus, will the Judge impose some repayment schedule irrespectively? My shortfall will arise mostly because I will have to re-house my tenants (dependent relatives who run my house as a b & b & will lose their income if made homeless) and I no doubt I will have to provide them with some on-going income as well until they get back on their feet.
Six, my bank accounts will be frozen, I realize. My employers have kindly agreed to pay my salary elsewhere when necessary and since my car is company owned, I will retain that presumably. The consensus in this forum seems to be that Barclays or Nationwide or the Co-op are the only sanctuaries for undischarged bankrupts. Since my creditor bank is Barclays anyway, I doubt they will be keen to continue to harbour me, so of the two remaining, which would be my best bet? Or would I be better off sharing my OH HSBC bank account (if that’s possible?) since then at least I would, I imagine, be able to maintain DD’s and SO’s and have online facilities.
And that’s it, I think. If there are other issues I have missed out inadvertently, please can someone point this out?
Thanks to all of you who have read this whole diatribe. Any helpful comments would be gratefully received.
0
Comments
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You realy need to contact a debt helpline. The judge will ask if you have taken the correct legal advice if you haven't then he may well refuse your petition. Good luck any other questions then fire away.DChampagneCharlie wrote: »Hi Everyone
This is my first post, I'm abit nervous but here goes with my tale of disaster.Welcome
I have been reading this forum, as many before me no doubt, with a sense of relief as it has dispelled many of my irrational fears and inaccurate hearsays that surround insolvency.
However, there are still, I’m sorry to admit, quite a few question marks hanging over my predicament as my situation seems to me at least abit more complicated than some. I’m hoping that if I post the whole thing up here, some of you good & helpful people will shed some light into the corners where I’m still frightened of the unknown unknowns as Mr Rumsfeldt was so fond of saying.
The background to my situation is pretty standard though: own construction business, profitable, trading over 6 years then projects started drying up, tenders postponed/cancelled/not won … begin to over trade to compensate and start losing money … re-invest to keep show on road, this ‘drought’ can’t last forever, can it? … eventually have to throw in towel as overdraft maxed out, credit cards maxed out, etc etc. Another small business statistic and another set of dreams, hopes and hard graft up in smoke and I still can't help thinking where it it go wrong, why did I stop doing things right?
Though I might mention here before anyone says “how have you survived financially since?” that before I finally called time on my business in January this year I had got myself another job the previous July, so my mortgage and the interest payments on credit cards and other stuff was being serviced.
But only just, and although I haven’t had to endure the awful attentions as so many of you have of bailiffs and such, I have had an anxious wobble when a recent interim re-financing of my current account saw Barclays screw up the direct debit payments with consequent telephone calls & letters automatically triggered once the payments had failed. I was shocked how quickly & how hotly the credit departments of various suppliers were on my case.
Formally pulling the plug on my business of course meant that the company overdraft became payable on demand and critically it’s secured as a second charge on my house.
Inexplicably my bank has been extremely understanding in the circumstances, so far. I had to put my house on the market in April at its valuation of July the previous year - £500,000 – and had hoped that I would have been able to sell it by now. But the housing market crash allied to the credit crunch has halted all sales activity and especially in the case of pretty but remote cottages in the depths of the countryside.
Adding to my woes is that the Environment Agency now has an online flood warning graphic that shows every property in the land that could be at risk from flooding. And mine has a small river running right through the garden, so you can imagine how that looks! Its a further dis-incentive to prospective buyers – even though the house only got marginally wet during 2007’s catastrophic floods.
Anyway, what has propelled me faster than anything towards BR is the dramatic fall in equity I have sustained since I decided to sell. The property is now worth approx only £380,000 according to my experienced and trusted agent, and is still rapidly losing value. With a mortgage of £325,000, the company debt of £100,000 and £50,000 of other unsecured debt, it doesn’t take a maths genius to see that in the space of a few months I have become technically bankrupt. I owe more than I am worth, period and in becoming so am now eligible for bankruptcy. What’s more, as the economic situation deteriorates, interest rates increasing along with the cost of living, and the constriction of credit all-round, I am slowly suffocating in debt. It is beginning to impact on my realtionship with my OH and I do not want to fall into the trap on indecision. I know there’s now only one way out of this.
But now I come to the tricky bits, the ‘unknown unknowns’ that are the outcomes I am still in the dark about. I am going to list my concerns here in full. I would like to apologise in advance if some of my queries are obvious or nonsensical, but if anyone can throw even a smidgin of light on it, it’s a help – and may well assist other people downstream if they've managed to read this far.
Right here goes:
First, I would like to clear up one thing. I am pretty positive that bankruptcy is the right solution for me, not an IVA or any other type of debt management plan. In a nutshell I cannot afford an IVA or the IP that perforce come with them, am I correct? CCCS do IVA's that take the bare minimum in commision as opposed to IVA shark companies.
Second, as part of the unwritten procedure in seeking bankruptcy, should I be following a path of some sort? Eg. I should have a meeting with my bank to explain my predicament and make an offer of some sort, but would I be expected by the Judge to have seen others too, like my mortgage holders the C&G and my credit card companies? Advice here particularly please.The only path at this moment is to contact a charity debt helpline. There are a couple in my sig, also there is a business debtline you can ring,but i don't have the number. Make an appointment to see a specialist debt advisor at you local cab office. There is no need to have meetings with your creditors,best they do not know your intentions for a while.;)
Third query concerns my house. I do not, in fact, live in it but it does have long term tenants in residence. What would happen to their tenancy agreement? What if they refuse to move? Do they have any legal right to remain?Sorry can not help on this one but do know that repossession can take months to complete so may buy them some time.
Fourth, the home I actually live in belongs, (and always has done) to my wife. I am assuming this would be exempt in any bankruptcy order, even though I contribute towards its upkeep which I shall have to reflect in my SOA.Even if the house is in your wifes name the OR may still have an interest in it as you have contributed to the upkeep ect
Fifth, and regarding SOA’s. If I can prove that my outgoings, even shorn of my debt burden, leave very little surplus, will the Judge impose some repayment schedule irrespectively? My shortfall will arise mostly because I will have to re-house my tenants (dependent relatives who run my house as a b & b & will lose their income if made homeless) and I no doubt I will have to provide them with some on-going income as well until they get back on their feet.The OR allows certain amounts for household/personal expenditure,if after these you have a surplus of £99 or more per mth, then yes they will take a %(usually (50% but this rises the more surplus you have until 75% ,the max is reached)for 36 mths from the first payment.
Six, my bank accounts will be frozen, I realize. My employers have kindly agreed to pay my salary elsewhere when necessary and since my car is company owned, I will retain that presumably. The consensus in this forum seems to be that Barclays or Nationwide or the Co-op are the only sanctuaries for undischarged bankrupts. Since my creditor bank is Barclays anyway, I doubt they will be keen to continue to harbour me, so of the two remaining, which would be my best bet? Or would I be better off sharing my OH HSBC bank account (if that’s possible?) since then at least I would, I imagine, be able to maintain DD’s and SO’s and have online facilities.You can have your wage paid into your OH account(make sure your name is not on any joint accounts)as i did with mine. Then open a bank account after bc.Some posters on here have had barclays as creditors but still opened basic accounts so the choice is yours. Co-op seems the best with a visa electron card and good on-line banking.
And that’s it, I think. If there are other issues I have missed out inadvertently, please can someone point this out?
Thanks to all of you who have read this whole diatribe. Any helpful comments would be gratefully received.Free impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D0 -
ChampagneCharlie wrote: »Hi Everyone
First, I would like to clear up one thing. I am pretty positive that bankruptcy is the right solution for me, not an IVA or any other type of debt management plan. In a nutshell I cannot afford an IVA or the IP that perforce come with them, am I correct? With the debt you have I think you are right about BR.
Second, as part of the unwritten procedure in seeking bankruptcy, should I be following a path of some sort? Eg. I should have a meeting with my bank to explain my predicament and make an offer of some sort, but would I be expected by the Judge to have seen others too, like my mortgage holders the C&G and my credit card companies? Advice here particularly please. No, just get some advice from CCCS, National DebtLine and/or Business debt Line or CAB. I was never asked if I had taken advice but many others were.
Third query concerns my house. I do not, in fact, live in it but it does have long term tenants in residence. What would happen to their tenancy agreement? What if they refuse to move? Do they have any legal right to remain? I'm not sure about your tenants but one of the debt charities above may be able to help here.
Fourth, the home I actually live in belongs, (and always has done) to my wife. I am assuming this would be exempt in any bankruptcy order, even though I contribute towards its upkeep which I shall have to reflect in my SOA. How long have you lived here, is the property mortgaged, if so, I presume its only in her name. Did she own the property before you moved in? Are you legally married?
Fifth, and regarding SOA’s. If I can prove that my outgoings, even shorn of my debt burden, leave very little surplus, will the Judge impose some repayment schedule irrespectively? Only if you have over £99 surplus per month. My shortfall will arise mostly because I will have to re-house my tenants (dependent relatives who run my house as a b & b & will lose their income if made homeless) and I no doubt I will have to provide them with some on-going income as well until they get back on their feet. I seriously doubt you will be able to do this. You will be bankrupt and they will have to 'fend for themselves'. I realise you feel you have a moral obligation to them but the OR will feel you have more obligation to your creditors. Again, ask this of the debt charity above they may have more of an answer
Six, my bank accounts will be frozen, I realize. My employers have kindly agreed to pay my salary elsewhere when necessary and since my car is company owned, I will retain that presumably. The consensus in this forum seems to be that Barclays or Nationwide or the Co-op are the only sanctuaries for undischarged bankrupts. Since my creditor bank is Barclays anyway, I doubt they will be keen to continue to harbour me, so of the two remaining, which would be my best bet? Or would I be better off sharing my OH HSBC bank account (if that’s possible?) since then at least I would, I imagine, be able to maintain DD’s and SO’s and have online facilities. I would open (and I did!) a Coop account, it gives you DD/SO facilities as well as a debit card. Nationwide no longer do BR accounts. You can also get a prepaid credit card and if you need anything else like a cheque, like you said you can always use your wife's account.
And that’s it, I think. If there are other issues I have missed out inadvertently, please can someone point this out?
Thanks to all of you who have read this whole diatribe. Any helpful comments would be gratefully received.
I also had a business go under which was the reason for my bankruptcy. Once you make your decision stop paying your creditors, you will have the hassle of phone calls etc but you can save the money you would otherwise be using to service the debt. BR will cost you £495. I would also stop paying the mortgage on your house. It takes a few months for repossession. If we knew more about your relatives maybe we could give clearer advice.
Good luck.
:j :j
0 -
I am afraid I agree with 5YP regarding your relatives, sorry.
The numbers and links for the debt charities are in my signature.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
Have I got this right, your house, which is in negative equity, is run by your rellies as a B&B?
If I have that right do they pay you rent, and does this cover the mortgage payments on the house?Accept your past without regret, handle your present with confidence and face your future without fear0 -
Hello Champagne Charlie,
Not much to add to what the others have said, except that as a self-employed person I found it useful to get as much expert advice as possible - even when that advice was contradictory. In addition to calling Business Debtline, you should book a telephone appointment with a self-employed specialist at CCCS. Are your accounts up-to-date? It's not a requirement of the court but it is extremely helpful when filling out the bankruptcy petition, especially the question about when you first experienced financial difficulties and the big question at the end about reasons for bankruptcy. One last thing, phone your local court and find out whether they operate an appointments system or first-come, first-served. This will give you a time-frame. Bankruptcy is emotionally draining and very bureaucratic. It helped me to look on it as a project, to do as much research as possible, and the more comprehensive a picture you can give in your petition, the easier it will be for your Official Receiver (and you) to ascertain whether an IPA is possible. Good luck with everything. There will be plenty of people here to help and this board is an invaluable source of emotional support, direct experience and knowledge, and, er, silly jokes.
Lily0 -
Dalip, 5YP, Tigerfeat2006, Peachyprice & LilyBart
Thank you to each and everyone of you for the swift responses!
I'll reply to the questions you have asked me individually or by a group message - once I have worked out how to do it - not used to these forum things!.
Cheers
CC:j0 -
If you want to answer individually like I have done above in red you click on quote and then put the cursor where you want to type, highlight it and change the colour - done.
Or you could just do a new post with the answers in it.
:j :j
0 -
Hi 5YP
Yes, my house as a rellies B&B does some anomalous but its a situation I inherited and I'm not sure how to alleveiate it. The options here are:
a) I go bankrupt and the whole shooting match is swallowed up;
b) I get the rellies to leave the house and I rent it out, hoping the rent will pay the mortgage - though this will increase next April so I'm not sure that a rent would cover the mortgage, currently £1350 per month. Assuming I get a mortgage renewed at, say £1500p/mth, I doubt I would get rental for that from a 4 bed house in rural Herefordshire. And I would still have my business & unsecured debts to deal with ...
As for the home I live in with my wife, it was her's before we got married and has always remained legally in her name as a precaution in case my business when tits up ... which it did! By the way its not mortgaged, if that makes any difference.
On the SOA issue, I was talking with another ex-bankrupt yesterday - funny how they come out of the woodwork when you yourself are involved - and his OR granted him payments to his mother-in-law (of all people!) who lived in Spain! I suppose its down to individual OR's discretion how they treat you and the requests on the SOA. Better than it being "computer says no" anyway.
Finally, the self same bankrupt recommended I open an account separate to the bank carrying all the debts - Barclays in my case - as he said his remained unaffected by his BR. He said I should do this before I go BR. So, in his situation he lost the use of BoS with all the debts and retained use of Lloyds for his private use. Have you heard of that happening before?
Finally, thanks for the reminder to stop paying my creditors. The peace and quiet I am 'buying' by continuing payments will simply maintain by absolute brassic-ness and as you say further hamper my decision to go BR. Its the timing I must get right, particularly with my salary and where its got to go.
Thanks for the tips 5YP, really appreciated.
CC0 -
Hi Charlie
Yes most banks freeze bank accounts until they know the OR has no interest in them,,even then some will not allow you to continue banking with them. As a bc you are only allowed a basic account whilst undischarged. The only two that we know of on this forum which are bc friendly are barclays:rolleyes: and co-op. Barclays have been known to give basic accounts to bc who owe them money:D . Co-op on the other hand have tightened their rules and it seems do not allow a ex creditor to have one of their cashminder accounts.Which ever you go for it is wise to get it open before bc. Lisa has just been agreed an abbey basic so we are waiting on that to see if they really will take bc's on. Hope thats of some use.DFree impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D0 -
Hi Charlie
Yes most banks freeze bank accounts until they know the OR has no interest in them,,even then some will not allow you to continue banking with them. As a bc you are only allowed a basic account whilst undischarged. The only two that we know of on this forum which are bc friendly are barclays:rolleyes: and co-op. Barclays have been known to give basic accounts to bc who owe them money:D . Do you suggest I go BR without speaking to my bank Barclays first? :rolleyes: I'm not confident they would be pleased to consider an on-going banking realationship if I hadn't had tyhe courstesy to inform them prior to going 'pop'. Co-op on the other hand have tightened their rules and it seems do not allow a ex creditor to have one of their cashminder accounts.Which ever you go for it is wise to get it open before bc. Lisa has just been agreed an abbey basic so we are waiting on that to see if they really will take bc's on. Hope thats of some use.D
So if the Co-op is out as well..... what do you say about Think Bank?
CC0
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