Decision Time

craighemming

Thanks, I guess its time to download / get the forms ready.

The main thing that confuses me about the process is the "freezing" of bank accounts. How long would my account be frozen for? What happens concerning access to what little money I do have? Am I best to open a basic account before or after the proceedings?

I am currently with think banking but would like to open a Co-op cashminder account.

philnicandamy

Morning craig, nothing stopping you opening a co-op basic account soon as you can (unless your in brighton the OR's there seem to dislike opening accounts before BR)

Its the banks who will freeze/close accounts once they hear of your bankruptcy...the only 2 bankrupt freindly banks are co-op and barclays so I imagine think once they know will close your account

craighemming

So co-op won't freeze the account being as they seem to be more sympathetic?

I thought the OR would freeze the account until they are satisified with what they find? ( I'm easily confused!)

philnicandamy

NO its the banks that close/freeze accounts.....the receiuver wont be interested in the co-op account as its a basic one...just make sure you've just enough cash in the co-op account to cover your living expenses any more cash before your BR the OR could take interest then

craighemming

OK that makes things clearer thanks. Will I be ok to have my wages then paid into the cashminder account to pay for d/d's, rent and so on?

philnicandamy

yeah be fine with that....

alastairq

Co-op also have a dedicated department that deals with BR.......if opening a Cashminder account with Co-op..[open two, one a little later.....helps budgeting if you put essential bill money, DD's etc into one account, keep the other for income and day-to-day spending]......ask the nice person [they seem to all be nice at co-op]....if they can either transfer you, or give you the direct number for the department that deals with BR? They will tell you how they approach BR.....they even gave me a fax number for the OR to directly contact them.....ie,after interview, OR can fax ''no interest'' and everything carries on as normal.

craighemming

Great, thats put my mind at ease a bit more. I'll keep you posted on how I get on.

philnicandamy

Good...look forward to updates!

craighemming

Any advice on timescales between getting the forms together and giving the court a call? It will take me 2 months maybe slightly longer to get the fee's together