wages help

spenderblender

If we are made bankrupt and the OR shuts down all bank accounts for the forseeable, in what way can you arrange for your wages to be paid. My hubby has to have a bank account for payment. Benefits I have read will be ok as I can open up the account for benefits at the post office.

Jam_Buttie

Interesting question as I get paid by cheque and weighing up the pro's and con's of BR against my current IVA...

spenderblender

that is how we are at the min. We have been in an IVA for a year and I have more credit so I think it will be stopped anyway so I am going to stop payments as struggling anyway. Bankruptcy is now looking far better option.

wallopadonkey

hope this helps our or today said we could keep a bank account open to continue getting money paid into however it is the alliance and leicester and they normally close them anyway hey ho it does however give us the time to open a cashminder or like wise i would say if you get paid monthly to try to make the date for a few days after your payday to give you a cpl weeks to get basic account sorted out
cheers
dave

jellygirl_2

have you looked into opening a Co-op Cashminder account?

tigerfeet2006

The only 2 completely BR friendly bank accounts are the Co-op cashminder and the Barclays Cash account. You can open both prior to BR and just let the OR know these are your BR accounts. The 2 banks don't freeze these accounts.

spenderblender

Ok thanks for your replies. I knew that you could open these accounts but only after the hearing, didn't know you could do it before. I am with hsbc at the mo with a cashcard account.

fiveyearplan

You can definitely open it before BR, just let the OR know it is a basic account with no credit facilities and he will state he has no interest in it. Also it is wise to have a nil balance when you go BR (or very close to nil) just in case it does get frozen - this very rarely happens but it can.