co op account and joint bankruptcy

imustbedreamin

hi guys,

the wife and I are probably going to be advised to go BR.

we are wanting to open a co op account to get our affairs in order.

can we open a joint one or would it be best to get one seperatly?

we have a joint loan together to be included in the BR but our other debts are individual (dont know if this makes a difference but thought i would mention it:))

thanks in advance

fiveyearplan

I would open one for each of you but that is just my preference (2 bank accounts better than 1). It doesn't really matter though.

imustbedreamin

thanks for the reply 5yp

why 2 better than 1 in your opinion?

just curious?;)

fiveyearplan

If you had 2 accounts you could have all your direct debits and bills going out of one and put any leftover money for spending (like groceries etc) in the other that way you know exactly how much you have to spend each month and that your bills will be paid. It works for us.

brokeinbristol

Hey there, me & my husband went BR earlier this year, we were able to open both an individual account and a joint one before going BR, although the OR shut my individual account (neither of them had been used anyway), he kept open my husbands and also our joint one which we find works brilliantly for us in managing our money now. All money goes into the one account and all bills come out, makes it very simple for us.

imustbedreamin

thanks for your replies guys, most helpful

jedi82

Hiya, me and husband are going br shortly and have opened a joint cashminder. After the br I will open another account so we can seperate bills/direct debits etc.

imustbedreamin

how do you feel about br jedi?


if you dont mind me asking of course?:o:beer:

bigjl

I wouldn't advise opening the account before going BR, as if the OR knows of the account they then have an interest in it, so that when your wages goes in they can take the money.
I know this because after my BR my work paid my wages into my previous account and it took several phone calls and letters to for me to get at my money, I also had to explain what the money was for etc.

imustbedreamin

thanks,

although i am aware of more people saying the OR had no interest in the basic account than ones who have had it frozen.

i suppose it depends on where you are:(