Opening A Co Op Account Before Br

chellshoc

sorry just feeling very confused at the moment
i am going br when i have saved up the fees am currently failing an IVA at the moment as when it was set up we were all ok and then had to move, rent doubled ,council tax went up etc ......... also court wants the IVA failure form
my question is do i set a new bank account now so i can sort out dd etc or after i have gone br as i have been told they get frozen when u are made br
just wondering as dont want to miss payments on rent etc if they freeze new bank account
sorry for rambling

startagain_2

chellshoc wrote: »

sorry just feeling very confused at the moment
i am going br when i have saved up the fees am currently failing an IVA at the moment as when it was set up we were all ok and then had to move, rent doubled ,council tax went up etc ......... also court wants the IVA failure form
my question is do i set a new bank account now so i can sort out dd etc or after i have gone br as i have been told they get frozen when u are made br
just wondering as dont want to miss payments on rent etc if they freeze new bank account
sorry for rambling

Hi chellshoc,
It is perfectly fine to open up a BR friendly account before you go BR.
The two that are normally supported on here are the Co-op cashminder and Barclays cash-card.
It is normally very easy to open the Co-op account - a matter of minutes by telephone (unless there is further checks to be made) but Barclays can take a little longer.
When you are made BR the OR will ask if you have an account into which your income is paid? They contact the Co-op and tell them they have no interest and you can continue to use it, you just need to explain that it was opened for your BR.

SA

DON79

hi chellshoc, you can open one now and all you have to do is to tell the OR that the account is your basic account for life after BR. then if it does get frozen, the OR can quickly let the bank know he has no interest in it and it will get unfrozen. so it should not be too much difference opening it before than after BR.

startagain_2

Snap Don ............

LOL

SA

DON79

SA, you beat me to it this time!:rotfl:

indebtandworried

Thanks startagain and don, is this always the case? I have been advised elsewhere that the OR will close any accounts, and I am currently having nightmares with people chasing me for unpaid bills as I have cancelled all DD's from my existing account, and am waiting till we go BR on Thursday before opening a new one... its been a headache!

startagain_2

indebtandworried wrote: »

Thanks startagain, is this always the case? I have been advised elsewhere that the OR will close any accounts, and I am currently having nightmares with people chasing me for unpaid bills as I have cancelled all DD's from my existing account, and am waiting till we go BR on Thursday before opening a new one... its been a headache!

See who answers first - me or Don, we are having a race!

It is the bank that freezes or closes an account not the OR. The Co-op are super and when you open the account tell them that you are intending to go BR and this is an account for use afterwards.
If the account does get frozen, all you do is contact the OR and they will ring,fax or write and the account will be defrosted .......

Personally, I would open the account now... one thing more you can cross off your "to do" list!
SA

DON79

you win SA! I was away......

indebtandworried

Ha ha you two, funny. And I like the thought of "defrosting" my bank account, ha ha - I may well get this opened tomorrow then! Thanks

chellshoc

thanks for all your replies will phone co op tomorrow to set it up