Please could someone help with a few question?

Cola_3

My husband and I are going BR in about 7 weeks and just have a few questions and hope one of you lovely lot could help?

1) - As regards to the bank accounts we have. I understand that they will be closed which is fine and have read that CO-OP will allow us to open an account with them, my question is do we do this before we go BR i.e now in the next few days or should we wait until we speak to the OR?

2) - At the moment the child benifit and child tax credit get paid into my Lloyds account which has no overdraft thats the only thing that goes in that account and my car insurance comes out of it aswell, should i get all these changed to a new account asap or again leave until we speak to the OR?

I keep reading and reading threads everyday on this forum and it helps a great deal but even with the all the info im obtainging i still think of questions, even if ive read the answer or not.......overload i think.

Thanks for your help know doubt i will back again asking more questions soon.

philnicandamy

Cola wrote: »

My husband and I are going BR in about 7 weeks and just have a few questions and hope one of you lovely lot could help?

1) - As regards to the bank accounts we have. I understand that they will be closed which is fine and have read that CO-OP will allow us to open an account with them, my question is do we do this before we go BR i.e now in the next few days or should we wait until we speak to the OR? up to you really....most leave till after going BR but nothing stopping you opening a co-op acc now & transferring everything over (the account shouldn't be froze only seems to be brighton OR's that do that!) IF the account is frozen by chance then the OR can easily sort for you

2) - At the moment the child benifit and child tax credit get paid into my Lloyds account which has no overdraft thats the only thing that goes in that account and my car insurance comes out of it aswell, should i get all these changed to a new account asap or again leave until we speak to the OR? if you opening a co-op account now i'd transfer everything over to your new account..soon as lloyds hear of your bankruptcy they'll shut the account down like a shot

I keep reading and reading threads everyday on this forum and it helps a great deal but even with the all the info im obtainging i still think of questions, even if ive read the answer or not.......overload i think. its a heck of a lot to take in at once...small steps (and anything your unsure about just ask...theres always someone around with an answer)

Thanks for your help know doubt i will back again asking more questions soon.

Just a few thoughs

fermi

1) It is normally OK to open the Co-op account before BR. We can't tell you that 100%, but most people find it is.

The exception to that seems to be if you will come under the Brighton OR. They have a daft policy of cloing the account regardless. Mad, but there you go. :rolleyes:

2) probably best to get them switched to a new account if you are going to open one pre-BR. Setting up a new account is not always quick, especially if the application gets referred. You don't really want to be left without an account for those payments to go into.

EDIT: snap with Phil I think.