Cashminder account

choc2497

I posted earlier to ask whether I would be accepted for a Co-op cashminder account as I am about to go bankrupt and one of my past creditors is Smile which is part of the co-op. Anyway I rang the co-op and they have accepted me for an account even though I told the man on the phone that they were a past creditor. I don't know whether I am worrying unneccesarily, but I am scared now, that when we go bankrupt and the co-op are informed they may cancel my account (because of the past credit) even though I was told it was okay! ONe good thing is that the debt from smile has now been passed on to eversheds so the coop probably don't own it anyway!
Secondly, I want to transfer my wages and family allowance across to this account, but am I okay to do this before I go bankrupt? If I still have some of my wages in this cashminder account when the OR investigates, will the OR take the money?
Sorry to go on, Thankyou for all your help,

MicheH

I'm no expert as I did all mine right after bankruptcy but what I do know is my OR very understanding and accomodating. I think general living cost shouldn't be a problem

Brightonfan

I was made bankrupt in April and would love to open up this account but i have major problems with the CSA with arrears.I would like to get my giro paid into this type of account but the CSA are threatning to freeze my accounts.I've told them i don't have an account anymore.

iquit

Hi choc, the co-op are bankrupt friendly. I opened my account the day I went bankrupt, can't praise the co-op enough. Your account shouldn't get frozen when you go bankrupt. Let the OR know about it when you speak to them. You are 'allowed' to have funds in your account for day to day living expenses. Some people have withdrawn money prior to going bankrupt to avoid difficulty if account is frozen might be something to consider. Other people have made temporary use of family member bank accounts while sorting out their bankruptcy. If you do experience difficulty with the co-op (unlikely) I believe barclays are also a bankrupt friendly bank. Good luck.

choc2497

Thanks everyone. Great help as always

Deep_In_Debt

Yep, if you are not successful with Co-op, try Barclays. They offer a basic account with Visa debit for BR's. Worth a try if Co-op are a no-go for you.

Good luck.