Bank accounts for Bankrupts - Discussion Thread

beentheredonethatstilhere

missgem wrote: »

Just wondering if you people can give me some advice! My mum and dad recently seperated after 28 years at christmas just gone, and are now going through divorce proceedings. Due to the amount of debt they are in, my dad has been to a solicitor and paid £200 for an hour chat, to see which the best option is for him, he said bankruptcy. He has told my dad to stop paying all bills now and after 3 months time thats when they can start bankruptcy procedures? Is this right? Also he has a santander account, but due to another santander account him and my mum have being a very big overdraft, no doubt it will be closed. So he needs a bank account to have his wages put in, but hes been told he wont be able to get one because of the bankruptcy, and even if he did get one, that once the bankruptcy started, the Trustee (whoever that is) will freeze the account and he wouldnt be able to draw any money etc? Is this right? Whats he meant to do then, draw all his wages out every week? x

Just to add to Phil's excellent advice can I suggest your Dad rings one of the debt charities and get's some FREE, impartial, professional advice. Also if he is computer savvy or can get access to a computer he might like to join here himself.

• Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)

Others:

• Christians Against Poverty
• PayPlan

Classylady2010_2

bump bump:j

greytdog_2

I have been declared Bankrupt at the start of the month and had a Barclays cash minder/basic account. The OR stated they have no interest in it and i can use it and i have contacted Barclays with my bankruptcy no and they also advised i could continue to use this and encouraged me to use the savings account to rebuild credit. I have received a letter this morning stating i can still use the account however they have closed the savings account and removed internet and telephone banking. I am really disappointed as i only bank online due to working shifts and my local barclays are useless. Is this normal as it clearly states on the account details you get internet banking also is there anything i can do about this? Has anyone else experienced these problems?

philnicandamy

with barclays fraid so...the online bits etc will NOT be given back till your discharge from bankruptcy, your not the first and no means the last unfortunatley due to their stupid terms & conditions.

the co-op however do offer the cashminder account with hassle free online banking..

greytdog_2

Ah ok, i feel an application coming on!

MicheH

Is it easy to change bank accounts? We're with the Coop right now and are reasonably happy with them but the visa debit unreliability is starting to become a pain and not being able to use pay at pumps.

We would like to bank with Barclays but won't do it till after discharge as we rely on online banking. Also is it ok for discharged bankrupts to have a personal account as well as a joint account? We only have a joint account at present. Would having two accounts go towards 'fixing' our credit rating?

Any help would be fab.. thanks as always

philnicandamy

Nothing to stop you having a "joint" and personal account once discharged....with regards credit rating? every little helps while the bankruptcy sits on file though for 6yrs it'll make a small difference

moodyjul

Hello, this is my first visit to the forum and have found it very interesting. I went bankrupt at the beginning of feb this year, after 3 years of sleepless nights, letter, phone calls etc. CAB advised me to do it 21/2 years previously, but I couldnt/wouldnt/felt too nervous etc to go through with it. Now however the relief I feel is phenomenal, I know my credit rating is nil, but I can live with that. It did however take barclays bank 28 days to set up my account, (that was almost as stressful as the day with the official receiver), they 'lost' my details, signatures, and i can honestly say the manager was quite ignorant, and no help at all (the cashier was great) Having said that now it is all running smoothly, DD are all set up and it seems to be going to plan, I have access to internet banking too.
I wish I had known of this website at the time, it would have good to discuss what i was about to do with people who knew about stuff...
any way i wish you all the best in all the decisions you make.

jonathon01

Hi,

If you apply for a current account (no overdraft) at a bank which is not one of your creditors, immediately after you have been declared bankrupt, and the bank accepts you and gives you an account number etc., then do they ever rescind the offer and close the account if they later discover that you are BR? If this does happen then how would they discover you are BR if they are not one of your creditors as presumably they would have run their credit check on you before offering you the account? Surely they don't accept you for an account then run a credit check a week or so down the line?

philnicandamy

Most banks get their information from the Lomdon Gazzette entry showing your bankruptcy entry...basic bank accounts are NOT credit checked only usually I.D checks are done..BUT apart from barclays or the co-op most other banks are very anti bankruptcy