Co-op ISA - UPDATE

peachyprice

Pants, isn't it. :rolleyes:

sscott5581

There is nothing stopping any bankrupt from opening a savings account with any bank as they are not credit scored. Coop seem to be the only bank who credit check for a savings account.

I was made bankrupt May 2003 and have had various savings accounts with several banks over the years.

Hope that helps.

peachyprice

Times have changed since 2003 I'm afraid, it's now harder to get a savings account while BR than it is to get a basic bank account.

travellerstales

Went bankrupt in January this year, have the CO-OP basic account. Earlier this week asked for a savings account so that I can store money for the yearly expenses of MOT, TAX and repairs etc to the car. The lady mentioned the ISA, I queried it with being bankrupt and following a conversation with her line manager she said was eligible and that it just may get referred and then processed.

In actual fact it went through within seconds of her pressing the button. I know that Experian have details of my status. Just awaiting the documents now.

Nigella_2

Co - Op Isa turned me down during BR and after BR.

I have tried Abbey ISA as 2.5 % rate to drip feed a few quid regularly. Don't know if will get it though!

Want to do online banking so Credit Union could be a pain!!!

sscott5581

peachyprice wrote: »

Times have changed since 2003 I'm afraid, it's now harder to get a savings account while BR than it is to get a basic bank account.

I have been applied for various savings since 2003 to date and never once had a problem, never been credit searched for any savings accounts.

Deep_In_Debt

I can't get my head round all this. Surely saving, especially for discharged BR's should be encouraged as if you find yourself in debt again, then hopefully you will have the money to pay most of it if not all. Very strange.

Post Office do an ISA with a good rate (for the current climate) not sure if it is credit scored or not, but may be worth considering.

philnicandamy

sscott5581 wrote: »

I have been applied for various savings since 2003 to date and never once had a problem, never been credit searched for any savings accounts.

ahhh....BUT do you have bankruptcy listed on your credit files?

(if you did be nice to share the various savings accounts you've held to give someone else a chance?)

fiveyearplan

philnicandamy wrote: »

thing is they dont expect a bankrupt to have any spare cash to save! :rolleyes:

How naive of them to think that - once discharged we probably have more spare income because we don't have any debts to service.
I don't get the logic either. I think someone (or all!) should go to the Ombudsman especially as we now own substantial parts of several banks - we should have our say.

philnicandamy

fiveyearplan wrote: »

How naive of them to think that - once discharged we probably have more spare income because we don't have any debts to service.
I don't get the logic either. I think someone (or all!) should go to the Ombudsman especially as we now own substantial parts of several banks - we should have our say.

Hmm that quote was told to me by someone in the insolvency service.....I do agree NO consistency in any of the bank AT ALL but no matter how loud we shout I very much doubt we'd ever be heard :rolleyes: