When you're in a "Debt hole"..Stop Digging!

Chrisblue1962

Hi Jellie

Thanks for your reply. I really really hate it when you just think that things are starting to improve then something (or someone :mad: !!!!) throws a big spanner in the works. Paying off debt is hard enough without having to "slay other dragons"so to speak.

The Co-op Bank have really changed their tune now they know CCCS are doing a DMP for me. They originally gave me £460.00 overdraft facility on my Current a/c, which I used. In February 2010, I decided to ask CCCS to put together a DMP, which I wanted to start in MAY.

CCCS insisted in including my overdraft in the DMP, despite the fact that I was managing the overdraft well and not exceeeding the £460.00 limit. So, I contacted the Co-op, who opened a Cashminder basic bank account, intending to start using this account and stop using the Current account wef 15th April.(payday).

CCCS wrote to all my creditors in MARCH and told them about the DMP. The creditors have been fine but the Co-op Bank then chose to freeze my Current Account and removed my Saving Account completely without telling me as soon as they received the CCCS letter! I wanted the Current Account to stay active until April as I had a couple of cheques that I had written in February to go through the Current Account first before it became dormant.

I transferred money into the Current Account to pay the cheques that would be drawn and guess what the Co-op did?...they bounced them!

"...we always freeze accounts and remove the overdraft facility once CCCS advise us of their involvement, it's standard practice. CCCS should've told you this..."

...I didn't know CCCS were responsible, rather than the Co-operative Bank themselves, for advising Co-operative Bank customers on how their accounts may be operated!!!!

They did allow me to transfer one £100.00 cash payment back to my Cashminder a/c so I could pay the cheque payee by debit card instead, but refused to do this again once I had purposely transferred another £100.00 into the current a/c to pay a second cheque, also written in February 2010.

Basically, the Co-op let me transfer money INTO the current a/c, despite the fact the account was erm, "frozen" and the overdraft will be paid off via the CCCS DMP, but refused to let me transfer money BACK OUT to the Cashminder a/c when I realised they weren't going to let the cheque be drawn so I could pay it by other means.

They are now "sitting pretty" as they just happily let me inadvertently pay £100.00 off the overdraft, which now stands at £359.00, rather than £459.00 and wait for the £5.00 a month via the CCCS...talk about wanting your cake and eating it :mad: .

I now have a £100.00 "hole" in my finances and no way of paying the cheque payee..

Seriously thinking of closing all my Co-operative Bank accounts and opening another basic bank account with Barclays, as their charges are lower and I work near a Barclays branch.

penelopedee_2

Aw Chris, sorry you're having such a rubbish time of it. Can't offer any practical assistance with this (but do sympathise), just wanted to send a hug. It will get better eventually, Pen.

*Jellie*

I'm also not an expert on this but the barclays idea sounds like a good one!
Are you chatting to those on the DMP thread- they may be able to advise.
Lots of hugs

Chrisblue1962

Thank You Penelopedee

Hoping to find some way to plug "hole" in finances, at least I get paid on 15th April.

I now call my Cashminder bank account a "The Tidal Account" as it comes in and goes out within a day :rotfl:

missymoo81

hey chrisblue hun, I've just caught up, I'm so sorry things are so rubbish for you at the moment, but well done on having the motivation and being so proactive to sort things out. And on your advice I shall never be using the co-op to bank with, what ******* (insert sweary word here)

Big hugs to you honey and keep your chin up x

Chrisblue1962

Hi Jellie

Will check out DMP thread...thank you (and others ) for ongoing suppport and wsidom.

Hi Missymoo...or should I say MrsMoo!

I am sorely tempted to move banks to Barclays but the overriding reason I opened an account with Co-operative Bank is that you can use the Post Office for paying in and drawing out of the account.

missymoo81

ah got you, so it is easier, shame they are such ******* though, doesnt make your life any easier when they are like that. I've found lloyds can be wonderful when you have money, but the most unhelpful rudest people when you dont have any!!! Must be something they learn in training!!

Chrisblue1962

Have been productive this morning, 3 page letter of complaint to Co-operative Bank Customer Care Team. :cool: about Money Management Team behaviour / shenaniggans.

*Jellie*

Good on you for writing to them- I usually fume privately for weeks about these things and never get round to putting pen to paper!

Chrisblue1962

Hi Jellie,

Like the saying, "Revenge is a dish best served cold". No point just fuming about it. If I write in and complain they may do one of two things:

a) Provide satisfactory reply and transfer £100.00 back in Cashminder a/c, thus keeping me as customer
or
b) Provide standard "We operative in accordance with standard industry practices, etc etc..."

In effect, I've got everything to gain but nothing to lose ,

The Co-operative Bank have only a customer to lose which they stand a very good chance in doing at the moment...but what do they care?...