Lloyds TSB After bankruptcy

hanger312

I have a LloydsTSB classic account with cheque bok and visa debit card. It is run in credit and I have a loan with BlackHorse not arranged through the bank. I will be petitioning for bankruptcy
in middle of Jan 2011. I have been trying to contact Lloyds to see
what will happen to my account as I use it to pay a few
essential direct debits. I spoke with the Official Receiver helpline
today and they tld me basically that it is up to the bank to decide
on what it wants to do.

Do yo think they will want to close my account or will they reduce it to a basic account. Any ideas?

ontheroad_2

hanger312 wrote: »

I have a LloydsTSB classic account with cheque bok and visa debit card. It is run in credit and I have a loan with BlackHorse not arranged through the bank. I will be petitioning for bankruptcy
in middle of Jan 2011. I have been trying to contact Lloyds to see
what will happen to my account as I use it to pay a few
essential direct debits. I spoke with the Official Receiver helpline
today and they tld me basically that it is up to the bank to decide
on what it wants to do.

Do yo think they will want to close my account or will they reduce it to a basic account. Any ideas?

I personally wouldn't rely on Lloyds (or any bank I had a current account with prior to BR) allowing you to carry on using their account after your go BR. Open a basic Co-op or Barclays cashminder account now, and get your direct debits etc set up and wages paid into your new account, so you don't have that worry when you're going through the BR process.

Tupperware_Queen

blondee55 wrote: »

This account now belongs to the OR and you should not be using it really

not strictly true, I am in a similar position, had a lloyds account, but opened a cashminder in case of problems. OR said they would allow me to keep one account, they didn't mind which, they wrote to both banks - I decided to keep lloyds, as I have been with them a long time. They were happy for me to keep using the account, so I am doing so !

Tupperware_Queen

hanger312 wrote: »

I have a LloydsTSB classic account with cheque bok and visa debit card. It is run in credit and I have a loan with BlackHorse not arranged through the bank. I will be petitioning for bankruptcy
in middle of Jan 2011. I have been trying to contact Lloyds to see
what will happen to my account as I use it to pay a few
essential direct debits. I spoke with the Official Receiver helpline
today and they tld me basically that it is up to the bank to decide
on what it wants to do.

Do yo think they will want to close my account or will they reduce it to a basic account. Any ideas?

I may be slightly different, as none of my debt was with Lloyds or any associated company, but I kept them informed of my changing situation, and asked for advice along the way. Although they would not give a final decision on me keeping the account until the actual letter came to them from the OR, hence why I opened a cashminder just in case.

They have been fair and reasonable throughout - that is my personal experience, can't say for anyone else tho!

confuzzled7

I had an standard (not basic) current account with Lloyds and a savings account prior to bankruptcy but opened a new account with Secure Trust Bank and swapped my pay and Direct Debits across to that as I would worried my Lloyds account would be closed. I told the OR about both accounts in my interview and he said he'd notify Lloyds (I'd already withdrawn all but a very small amount from both accounts) but agreed he had no interest in the accounts. However, Lloyds never actually closed my account/s, although I voluntarily stopped using them for a while as I was scared they'd suddenly close them overnight. Now, 9 months after I went bankrupt, I've been through early discharge and am back happily using my Lloyds accounts. At the time of my bankruptcy I sent the OR my Lloyds bank card and cheque books, but, once I was confident the account was still open (still had full internet banking access) I simply said to Lloyds I'd damaged my card and requested a new one, along with ordering a new cheque book.

Just my experience... I realise other people haven't had such a positive experience with them. (Oh and, no, Lloyds weren't one of my creditors... don't know if that made a difference.)

andyf1980

Lloyds were one of my creditors and they closed both of my current accounts but have kept my savings accounts open. :mad:

jonesMUFCforever

hanger312 wrote: »

I have a LloydsTSB classic account with cheque bok and visa debit card. It is run in credit and I have a loan with BlackHorse not arranged through the bank. I will be petitioning for bankruptcy
in middle of Jan 2011. I have been trying to contact Lloyds to see
what will happen to my account as I use it to pay a few
essential direct debits. I spoke with the Official Receiver helpline
today and they tld me basically that it is up to the bank to decide
on what it wants to do.

Do yo think they will want to close my account or will they reduce it to a basic account. Any ideas?

Upon notice of bankruptcy appearing in the Gazette they will freeze your account. YOU WILL NOT BE ABLE TO USE IT.

jonesMUFCforever

andyf1980 wrote: »

Lloyds were one of my creditors and they closed both of my current accounts but have kept my savings accounts open. :mad:

Since you cannot get or apply for credit (overdraft or loans etc) using a savings account - that is the reason they left the account open.

andyf1980

I know several people for whom that hasn't been the case. Inconsistency as usual! :mad:

andyf1980

jonesMUFCforever wrote: »

Since you cannot get or apply for credit (overdraft or loans etc) using a savings account - that is the reason they left the account open.

Yes I realise that. I worked in banking for the last 10 years. Still doesn't explain why they let some people retain their accounts and not others.

I'm much happier with co-op anyway :j