bank account

kduffy101

hi,
im starting to get my life sorted out before i go BR.
my question is....i owe barclaycard about £7500 on 2 credit cards+£33000 to other cards+loans.just got paid off work on jsa.can i open up a barclays bank account for my jsa?+use this acount after br?
thanks

philnicandamy

I wouldnt put ANY cash in the new account till after bankruptcy....as barclays sometimes could use the offsetting rules which means they take money from new account to pay old debts...once bankrupt though they'll be unable to do this...so if you open make sure its a BASIC account otherwise they'll close it soon as your BR

Barclays were one of my biggest creditors a while ago but they offered me a basic account to open after i'd gone BR


or you could try the co-op for a basic account instead

damoandclaire

i would open an account with a completely different provider.

The problem you have is that you have debt to barclaycard which is a branch of barclays. If you have funds or assets elsewhere in the company, even tho they shouldn't, they could possibly take this and pay it off against your barclaycard debt leaving you with very little if no funds. And it will be hard to get it back off them.

I know this sort of thing shouldn't happen however, you hear all sorts of horror stories in this regard.

Nationwide do a basic account- thats who I went with before I went bankrupt. I would very careful putting any money with a provider that you may have debt with. Idea of going bankrupt is to sever all with debtors and start a fresh.