Bank Account and Redundancy!

curly04

northern_worrier wrote: »

It would make a dint in the loans/credit cards, but no where near enough to cover what's left over when the house is sold, which is currently looking about 40k+

So just so it's very clear for my head:

- If I'm made redundant before I'm bankrupt then I have to list my assets which would include my redundancy payment, even though it's in my partner's account
- If I'm made redundant after I'm bankrupt then I would have to inform the OR who would most likely take it all.

So either way I'm possibly out of a job, with no redundancy payment to boot!

Sorry to say

Yep! Same boat I'm in if I'm in the next wave of redunancies.

But you get to keep wages paid in lieu and any holiday payments

northern_worrier

Time to start cancelling some holiday's I guess.

If I get to keep my payment in lieu then it's not all doom and gloom I suppose, not ideal but at least I could feed my family until I find a job at the nearest McDonald's

curly04

asking about the bank account

you never thought of opening a coop cashminder account or barclays basic account in your own name - these are not normally frozen at BR

Mine wasn't

northern_worrier

Actually I've been wanting to get away from Barclays for a while, having a loan and bank account with them isn't ideal.

Neither is just having an account in my partners name.

Would the Co-op account be frozen at BR aswell and then released later, or would it not be frozen at all?

curly04

My Co Op account wasn't frozen at all, I opened it 5 months before going BR.

But you have to make sure you open a cash minder account.
you get on line banking, and a visa debit card, but no cheque book or Over draft.

They won't open of if you owe them money, and they have a 3 strike rule - go over drawn 3 times and they will close the account no questions asked

northern_worrier

I'll definetly have to look into a Cashminder in that case.

I don't owe the Co-op anything so that shouldn't be a problem!

Do they do any sorts of credit checks or anything when you try and open an account? As obviously my credit isn't amazing

curly04

No - no credit checks as such but they will check the electrol role, and if you are not registered then they might not open the account.

Phone them rather than wasting a trip the telephone number is 08457212212