Bank accounts for Bankrupts - Discussion Thread

charmed-imsure

Can anyone help?

Partner has a joint loan with ex wife with MBNA - she's declared herself bankrupt but he hasn't, in the meantime, MBNA have sold the loan to an insolvency agency (specialist in buying these loans) and they've written to his ex (solely) to say they'll deal with her OR's so don't reply to letter. MBNA said nothing to my partner. My partner is still paying his half of loan to MBNA and requested several times a statement of the loan. They say they never sold it but we have it in writing from the company they sold it to that they did. 3 months later MBNA have bought the loan back and now saying my partner still has to keep paying.

Please someone tell me how its legal for a company to sell off a loan, buy it back and still enforce the original agreement with a bankrupt person on it?

It was sold as a joint loan but surely can't be bought back as a joint loan with one bankrupt and the other not? Will it still be viable for them to hold any party to the same terms as before it was sold?

Any help gratefully acceptes. Already sent a letter off recorded delivery to MBNA to force them to send the original True Copy of Credit Agreement. But I don't see how that stands after a loan has been sold regardless of whether they bought it back...

charmed-imsure

Also, no idea of how to post a NEW THREAD on here - newbie :-) so sorry if that stole someone elses - advice on how to start a new thread much appreciated also!

fermi

Can anyone help?

Click here: or on the same button on the main page.

wok_boy

Anyone had any luck getting a Lloyd's TSB Cash account whilst being an undischarged bankrupt? When I told them I was an undischarged bankrupt they said that to make an appointment and they will go through the application with me and see what happens. My appointment is on Tuesday morning.

tigerfeet2006

wok_boy wrote: »

Anyone had any luck getting a Lloyd's TSB Cash account whilst being an undischarged bankrupt? When I told them I was an undischarged bankrupt they said that to make an appointment and they will go through the application with me and see what happens. My appointment is on Tuesday morning.

If you read the OP then you will see that there are only 2 or 3 accounts available to BR's. The Nationwide account is a bit iffy now. Some people seem to have been able to open it and keep it and others have been refused.

I don't think you will get a LTSB account but it is up to you if you want to keep the appointment or not.

A lot of us have opted for the Co-op account as it comes with an Electron card.

wok_boy

tigerfeet2006 wrote: »

If you read the OP then you will see that there are only 2 or 3 accounts available to BR's. The Nationwide account is a bit iffy now. Some people seem to have been able to open it and keep it and others have been refused.

I don't think you will get a LTSB account but it is up to you if you want to keep the appointment or not.

A lot of us have opted for the Co-op account as it comes with an Electron card.

I had already made the appointment before I read this thread, I'm going to pop into my local co-op branch in the morning.

kez1982_2

Just wanted to let you know that the Co-operative Cashminder account is a three strikes and your out system. I am a discharged bankrupt having been made discharged in September 2006. I had a Co-op cashminder account and there is nothing in the terms and conditions that states that there is a three strikes and your out policy. Needless to say they claimed I have breached the terms set on the account and told me that they sent me a letter on 06/09/2007 telling my account was being closed, WHICH I NEVER RECIEVED. I only found out that my account had been closed when I went to check my balance and the card was declined. I came home and rang the bank to end up having a full on blazing row with them. Now I am having really bad problems trying to find a bank that will give me an account with a basic Solo or Visa Electron card. I cannot wait until March 2012 when my bankruptcy will be taken off my credit file so things can get back to normal.!!

wherediditallgo

Hello Kez,

Sorry you're having problems with the Co-op. Just wanted to let you know that the Co-op's "three strikes" policy is covered in the very first post in this thread, which I started so that people would be aware as early as possible of the different issues regarding bankruptcy & bank accounts.

If you have any further banking problems, please can you start a new thread so that this one remains just for information rather than discussion. That way, more people are likely to see your query & be able to respond to it. Thanks.

jimogborne

HI, Lloyds tsb gave me and opened a basic account the same day as my bankruptcy. If you go into the bank and actually speak with an adviser to explain your circumstances then you stand a much better chance. The nice old lady I saw just picked up the phone and it was sorted in a couple of minutes! 3 years on and I now have a cheque book etc. Another tip is to do it the same day as going bankrupt as the courts take a while to register you with the credit ref agy's etc so it wont show up when they search you! On another note - does anyone know where I can get a business account??

wherediditallgo

I hate to be a pain, but please can everyone remember not to post banking queries in this sticky. The thread was started to make it easier for people to access banking info, but if people keep posting their queries in it, it will make it harder for other members to find the relevant info on what bank accounts are available. Posting in the sticky also makes it less likely that people will respond to your query, as they're not expecting to see queries here.

If members find a particular bank is amenable to BR's, then it's very useful to have the info, but otherwise please keep this sticky query-free by starting a new thread in the Bankruptcy forum itself when you have a banking query. Thanks.