Bank accounts for Bankrupts - Discussion Thread

philnicandamy

Looks like they'll do the standard I.D check (electoral role..credit file) IF something isnt right or they need further info then they'll contact you and ask to send personal docs in

Good luck......I did try a while ago with this account been discharged nearly 3yrs and they turned me down

Ideally you should have looked at the credit file cleanup sticky at the top of this forum before you applied to make sure everything was as it should be...

Although....co-op? you dont need to be near a branch you can pay cash/cheques in at ANY post office

hughie278

philnicandamy wrote: »

Although....co-op? you dont need to be near a branch you can pay cash/cheques in at ANY post office

Thanks for that. Now i have a post office near me thats for sure. That would be easier than nationwide, wish i hadnt bothered with them now, lol.

philnicandamy

Well....nothing to stop you trying if they say ok you havent really lost anything....(they may turn you down anyhow)

hughie278

Ill wait and see what happens next with them, but in the meantime i think ill ring Co-op and try for one there as that would be better. i just read you have to nominate a post office to use to pay cash/cheques into your account with co-op, which takes 4-6 weeks.

ill get on that credit file clean up. i was waiting a couple of months before starting. just hope i dont get any refusals from these basic accounts.

InnerPeace

jonathon01 wrote: »

What does the O.R. look for in your last 12-24 months' bank statements? Do they just skim them looking for obvious anomalies or questionable transactions or do they have specific things for which they are on the lookout?

Hi Jonathon, under the Insolvency Rules you're obliged to retain all records relating to your finances, particularly if self employed because you are under an obligation to account. Ideally the OR will want the last 2 years bank and credit card statements, plus anything else that shows money coming in and going out.

The OR will be looking for anything questionable but also will be fulfilling his/her legal duty to identify the cause of insolvency (and whether there's any misconduct under the Insolvency Rules that will warrant a Bankruptcy Restrictions Order) and to ensure all your liabilities and assets have been identified so that any distribution to creditors can be made.

hughie278

Well Nationwide have sent me the details through the post for their cash card. They want me to send back the document with a signature and date, and any other documents they ask for. But, they do not ask for any other documents at all!

I dont really want this card anyway as it has no Visa debit. It does have online banking, as they say they will send me the passcode with my card 10 days after they receive the document back. I also done this application through the online site. So it looks like Nationwide will give me an account, but typical i dont want it

superbabe612

I went bankrupt in 2004 and opened a cashcard account with Co-op (at a time when the Visa Electron debit card was barely accepted anywhere!). After I was discharged a year later I asked for a 'normal' current account so I could have a cheque book (not necessarily with a cheque guarantee card) but I was refused. Even earlier this year I applied to Nationwide for a current account to take advantage of their currency benefits but was only offered a cashcard account, which I didn't want. Then last month, after the Co-op charged me for returning a standing order which I actually cancelled (twice), I decided to look elsewhere (even though the very rude man at the Co-op told me I would have difficulty finding another bank account with my credit rating!) So 5 years after my bankruptcy, I applied and got accepted for a fully-fledged Reward current account with the Halifax, with a Visa debit card, cheque book & £150 overdraft (which I said I didn't want!). I feel like a proper person again! Just wanted to share my glimmer of hope with anyone who's suffering... especially at this time of year.

Am I right in thinking only one more year and my credit file should be cleared? Or is it 6 years from when I was discharged from bankruptcy?

dojoman

Yes you are right, it is 6 years from date of BR, good luck for the future..

fiveyearplan

hughie278 wrote: »

Ill wait and see what happens next with them, but in the meantime i think ill ring Co-op and try for one there as that would be better. i just read you have to nominate a post office to use to pay cash/cheques into your account with co-op, which takes 4-6 weeks.

ill get on that credit file clean up. i was waiting a couple of months before starting. just hope i dont get any refusals from these basic accounts.

No, you don't have to nominate a post office - you can use any post office. I have had my Coop account for over 2 years now and have used several post offices and all cash deposits show up immediately. If I have cheques to deposit I usually send them by post in their pre-addressed envelopes but sometimes I do deposit them in the post office, whichever is more convenient to me at the time. I highly recommend the Coop account.

You could keep the Nationwide account and use it as a savings. My OH has that same account and we have DDs coming out of there. We seldom take any money out of that account as we only use it for DDs so the cash card really isn't a problem for that.

cosmonaut

just a quick question; my partner and i are both with abbey (seperate accounts under the same address)

if i am BR i understand my account will be closed/frozen- but what about his? should i get him to change the address on his account to my mum's or something?