Bank Accounts - again!! Please help

stressedandconfused_2

I haven't filled in my OR forms yet or had my OR meeting, the OR has said that I can continue to use my Nat West Step Account, a basic no frills account, that I opened when I got a (now failed) IVA.

I am assuming Nat West will close this account as soon as they find out from the OR that I am BR - (am I right?)

I was going to try to open a Co Op cash account that you guys recommend, and having read your threads, I had planned to tell them the truth about my BR (so they dont then close me down when they find out!!)

Will they inform Nat West? I am petrified my NW account is closed with my very small amount of salary in it, or that I cant get my salary paid anywhere or pay my car insurance, food etc, if I lose a months salary along the line I am in big trouble...

Can anyone advise how long it would take NW to close my account, if the OR receives my paperwork mid next week, how soon after could this happen???

Thanks everyone... :(

fermi

Natwest will normally close the account when they find out.

How long exactly? Hard to say.

In theory the OR should right to them as a priority if they are to express no interest in the account. Within a few days, rather than the weeks that it takes them to contact normal creditors.

If the account is closed before a new one is established, then they should pay up any balance.

As you need these funds to live, if there is any hassle with Natwest releasing funds then the OR can normally call/fax a bank with permission to release them.

stressedandconfused_2

Thanks, Fermi x

verychattyeve

I opened a Co-op account a couple of months before I went bankrupt. Had wages paid into that one and set up direct debits on the new account as well, meaning nothing was going in or out of the old account.
I timed my bankruptcy mid month when all the direct debits had gone out for that month then called the bank the day after bankruptcy and told them. They said no prob, the account will stay open. Having a couple of weeks in between gave me a bit of a breathing space should something go wrong.

stressedandconfused_2

Thanks for that. Oh crikey think I have left it too late, I cant ring the co op til next Tuesday, my next afternoon off, cant do it from work of course, or go in til next Wednesday at the earliest and am sure it will be too late to get my salary paid into it, have the account open to have my salary paid in to it on the Friday! Next panic... !

Holes_in_my_pocket

can ring the co op 24/7 . no need to get stressed over something so small