Bank Accounts Before Bankruptcy

kdean

My husband and I are anticipating bankruptcy soon but we have to fail our IVA first which will take another 3 months. We have been making sure payments to the IVA go out but everything else is being juggled and I cannot do it anymore. The IVA is unrealistic and we should never have been advised to go for it in the first place but it's too late now. :rolleyes:

Anyway my question is my husband doesn't currently have a bank account as he was turned away a few times so we have just been coping with mine but I was thinking about the Co-op cashminder after seeing it on here and wondered if it is worth opening it before bankruptcy or whether it is better to wait until afterwards?

strawberryfields

i'd open to co op cash minder account now, there is nothing to stop you, also i would stop paying your iva if you are going bankrupt and use the money to pay for the fees, someone will be along soon with better advice

philnicandamy

Open the co-op account anytime you want to really....ideally soon as poss..there can sometimes be a delay with one thing and another (the only receivers that seem to close these accounts after bankruptcy are brighton)

If your IVA is failed make sure you check with the courts your going bankupt at if they need a "faliure cert" from the IVA company...find your local court details here

http://www.hmcourts-service.gov.uk/HMCSCourtFinder/

iquit

Definately open a co-op cashminder account, you can tell them it's in preparation for bankruptcy. Your OH may have better luck with the co-op too. All the best.

kdean

Thanks, our closest branch is 14 miles away but they seem good so will get hubby on the phone to them later. I may even try to open one, they seem better than NatWest who are so unhelpful.

iquit

There aren't many co-op branches but you can make deposits at the post-office and withdraw cash from most ATM's for free so not too much of a hassle. Cash minder account can be opened over the phone quick and painfree.

kdean

That's good to know, thanks.

philnicandamy

dont think i've been in my local brance in over 2yrs!