Payday loan!

stairs2004

Hi there again, we r waiting to go bankrupt and I am not sure what to do with the payday loan we have. The original loan was borrowed some time ago! But we r in a catch 22 with it, so if we repay it are we showing a creditor favouritism ? Do we just leave it unpaid and allow it to go into the bankruptcy?Just not quite sure how to deal with it!
thanks for the help:)

motherb

Hi as long as you have changed your bank so they cannot take payment out directly just include it in your bankruptcy as we did

stairs2004

We haven't changed the bank account yet , I am not looking forward to that, I was hoping that as we already have a basic bank account and no debt with that bank they may let us keep it! I may be dreaming! I have however changed my debit card so they won't be able to take the payment initially. Would it be best to contact them! I just don't want to do anything that the OR may find bad.
thank you

philnicandamy

The only two bankrupt freindly banks with a basic acc would be the co-op or barclays...any other will usually close the acc once they know of your bankruptcy

I suggest you get one sorted now then payday cant hassle you....DONT contact payday though as all they'll do is increase the hassles once they know your considering bankruptcy

stairs2004

Ok will sort today. Just our pay and everything will need transferring so won't be in time for this month but hopefully they won't get it cos the card has changed and then we can move the funds over:)

dojoman

http://www.co-operativebank.co.uk/servlet/Satellite/1193206368743,CFSweb/Page/Bank-CurrentAccounts?WT.svl=copy


Above is the link for the Coop Cashminder:)