BR Bank Account

iquit

Hello everyone, just a quick question. I've been reading about post BR bank accounts namely Barclays and Co-op. My only option will be Co-op as debt with Barclays will be part of my BR. Now do I open account before or after BR? Diff advice in diff threads and forums I just want to get everything in place. 19 days on my hands and need to fill them so that I'm ready for my big day.

DON79

Hi! me again! I opened my account with the coop before bankruptcy and I never had any problems at all.

Sometimes the account can get frozen but in that case all you have to do is to call your Official Receiver as soon as possible who will arrange to get it "unfrozen" for you.

I preferred to have it open and ready for use. And because I am a scaredy-cat, it meant I didn't mention on the phone that I was bankrupt already as I hadn't done the deed yet.

jenni75

co op account is br friendly, so you can open and have it up and running ready for br. useful if you need to make sure essential payments are being paid and benefits/wages to go in without problem. If you have your br date already, when you set up any direct debits, try to arrange for them to come out a few days after so you don't need to have funds in the account at the time of br.

dalip

Just to say philnickandamy had a debt wth barclays and they still allowed him a basic account.Worth knowing maybe;) .Dx

Merry_Gentry

Most people haven't had a problem with it being opened before bankruptcy. The ORs in Brighton however will make you close ALL of the accounts you have opened when you go BR - no idea why, but they did it to me, and to a few newer people as well. So as long as you're not in Brighton, you should be ok!

iquit

If I keep account empty will I have to declare it?

jenni75

yes, but on the forms where it asks for balance you put a zero. You will be able to tell the OR that it is set up in preparation for br.

DON79

iquit wrote: »

If I keep account empty will I have to declare it?

You do have to declare all accounts that are open. but if you have no money in it then just put £0.

I had some money in the account when I went BR but the OR wasn't interested really.

iquit

Thank you. Does anyone know if the post-office offer basic accounts and allow BR's to open them?

beentheredonethatstilhere

They only offer an account for benefits as far as I am aware, but hopefully someone will correct me if am wrong.

iquit

Thanks for advice