DMP Mutual Support Thread (Part 6)

mozzyc

Thanks guys for the response!

Hopefully the creditors will be ok with the reduced payments. Can't keep putting off having a family for many more years!

londonfraggle

Hi - I hope someone can help me!!

I need, for obvious reasons, to set up a basic bank account before I can start any DMP or other debt solution (as some of my creditors form part of the same group as my bank - who I have an overdraft with anyway!).

I called co-op and was "convinced" to apply for a current account, which surprise surprise I was refused for! I then reiterated that I just wanted a basic cashminder account, he then said it had been referred for a decision. He did say this was quite common and that I should hear in a couple of days, but I'm now having a big panic as if I can't even get a basic bank account I don't know how I'll even start on this road!!

Does anyone have any advice or ideas on a) what this means and b) if I can't even get a cashminder account with Co-Op are there any other accounts out there that would touch me or am I scuppered??

I don't really know what to do now as I know that without opening a new bank account I can't move my salary etc to another account to pay priority bills etc.

Help anyone??!

A very worried Fraggle x

PS - will also post this on a few other threads as am really quite hoping for some advice so apologies any of you seeing this more than once!

WorriedofSurrey

Hi Londonfraggle

Why don't you try NatWest (not sure if any of they are one of your creditors or not). I opened a Step account online without any problems and it took around a week to finalise. It may well be quicker going into your local branch as ID has to be sent off and if you actually go in, then they can check it there and then. No credit checks were done at all. You get a Solo card with this account (no cheque book).

WoS

mozzyc

londonfraggle wrote: »

Hi - I hope someone can help me!!

I need, for obvious reasons, to set up a basic bank account before I can start any DMP or other debt solution (as some of my creditors form part of the same group as my bank - who I have an overdraft with anyway!).

I called co-op and was "convinced" to apply for a current account, which surprise surprise I was refused for! I then reiterated that I just wanted a basic cashminder account, he then said it had been referred for a decision. He did say this was quite common and that I should hear in a couple of days, but I'm now having a big panic as if I can't even get a basic bank account I don't know how I'll even start on this road!!

Does anyone have any advice or ideas on a) what this means and b) if I can't even get a cashminder account with Co-Op are there any other accounts out there that would touch me or am I scuppered??

I don't really know what to do now as I know that without opening a new bank account I can't move my salary etc to another account to pay priority bills etc.

Help anyone??!

A very worried Fraggle x

PS - will also post this on a few other threads as am really quite hoping for some advice so apologies any of you seeing this more than once!

Hi!

I also opened up a Natwest Step account. Its a basic account, no overdraft or cheque book. And you get a solo card which can be used online and for paying over the phone. As long as you have no debts with natwest, that'll be fine for you.

yellowpinky

Hi Londonfraggle - Co op were very pushy with me when I phoned to apply for a Cashminder and kept trying to persuade me to have the "normal" current account. They actually did a credit check on me! Thank God it was just before I was having to miss payments etc so I actually passed it! I just acted dumb but persistent and said I just wanted a basic account to do my housekeeping with. I tried to sound as blonde as possible (sorry, no offence to blondes, I am one!) No, I didn't want a cheque book, I never use cheques. Etc etc. It took some doing as I suppose they are trained to "sell up" to the next level of product. They kept asking me the reason why I wanted just a Cashminder, as it was usually what people with finanicial problems or bankruptcies went for. Not trying to alarm anybody, but you just have to stick to your guns and say you want a basic account. I think by law everyone is entitled to a basic account whatever their circumstances. I've heard that Halifax Basic online is a good one, if you've no connections with them - I've got a Co-op cashminder set up and running nicely but am going to have a Halifax too as back up. Hope you get sorted out and sending thoughts your way. YPx

DevonGirl

Hey Londonfraggle

Have a look at this link for an easy guide to basic bank accounts. As others have mentioned, there are Co-op Cashminder and Natwest Step, but pretty much every bank has a basic account. Just make sure it's a bank to whom you don't owe any money!

http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

Hope this helps
DG

yellowpinky

Sorry to post again - can anyone advise me about postal orders for token payments? The last time I bought a PO was when I was eight and I was totally confused today buying them at the Post Office. Should you send them crossed or uncrossed? (I didn't know, so left them uncrossed). Do they need the creditor's name on them anywhere (I left it blank, also didn't want the nosey cashier knowing too much)? Any advice before I post them tomorrow really appreciated!

DevonGirl

I don't think it makes much difference whether they are crossed or uncrossed once you put the creditor's name on the top of the PO (just as you would a cheque). I would put your name and sort code / account number / loan agreement etc on the back so they can identify it.
DG:D

yellowpinky

Hi Devongirl - thanks very much for that! I suppose it's ok to add the creditor's name in pen on that top line, the PO just printed a couple of asterisks on there? Sorry to ask something so silly, I have images of my creditors refusing them saying they're "spoilt" or something! I didn't know about the account details on the back either, very helpful

DevonGirl

No problems YP! :beer:
Yes, just write the creditor's name along the top - ignore the asterisks.
Good luck!