BR Friendly Bank Accounts ~ [Updated Sep 2012 re: Co-op Cashminder withdrawal]

fermi

skintandscared wrote: »

Can I please ask a question. I have a bank account with Lloyds that I opened prior to starting a DMP back in November 2008. I have no overdraft and have never been overdrawn on the account. If I were to go bankrupt, would I be forced to close this account, or could I keep it going as I don't owe Lloyds any money/they wouldn't be included in the bankruptcy?

Unlikely that the OR or Lloyds will allow it to remain open.

As said, Co-op or Barclays BASIC account opened before BR should be OK. Barclays for preference, as Co-op cannot be guaranteed if opened close to BR.

Barclays can also be opened after BR, but you may need to have alternative arrangements until it's up and running. i.e. having wages etc paid into relatives account or some such. Barclays are reasonably quick setting up though.

elljay

Can I just ask please? On the Barclays website it says you will need about an hour for an interview with an adviser to open the bank account. What do they ask you for all of that time? I haven't definitely decided that BR is the best solution for me yet, and will spend next week taking advice, but want to prepare. Do they need to know you might go BR - I thought it would just be a form to fill in, present ID and that's it. I'm so terrified of all this, I can't think straight, sorry.

Thanks

LJ

elljay

Also, one of my biggest credit card debts is Barclaycard - does that mean that if I open an account with Barclays they could use the money in that account to pay their own card?

mysterio_2

elljay wrote: »

Also, one of my biggest credit card debts is Barclaycard - does that mean that if I open an account with Barclays they could use the money in that account to pay their own card?

if you open a barclays account AFTER declaring bankruptcy then no they cant offset

Helpmeoutofthismess

elljay wrote: »

Also, one of my biggest credit card debts is Barclaycard - does that mean that if I open an account with Barclays they could use the money in that account to pay their own card?

Hi elljay, I opened my barclays account in February, it didn't take an hour but I guess they allocate time cos they will try and sell you different types of insurances. I let them do the quotes but she wasn't pushy in trying to get me to sign up, she just printed them off for me to compare later.

I was mortified that they were going to ask me some very awkward questions about my 3 barclaycard accounts that hadn't been paid in 4 months but if she could see them she did not mention it. She did ask why I wanted to swap banks but I had my excuse ready, I had changed to natwest and it was a nightmare only having access to RBS cash machines! I also said I was in discussions with national debt line considering a DMP and she didn't bat an eyelid!

I was wary about getting money paid in to the account in case they offset it so I transferred a few £'s in and left it for a month, they didn't touch it so I changed everything over. My income is just child benefit and CTC though, I don't think they are allowed to take benefits so I might have left it till after I had gone bankrupt if I had wages to be paid.

Anyway, sorry to ramble but I hope this helps! I really like my Barclay debit card, it doesn't say on it that it is the basic account unlike the natwest card and I was able to get a new card issued with a photo of my kids on! They give you the account number and sort code straight away so you can get all of your direct debits sorted out

elljay

Thank you so much both of you for such reassuring responses. I feel so relieved - I'm still not sure it's the way to go as my business is involved and I really want to sell it, which might get me off the hook totally if it sells at a decent price (probably not though, as it's very run down).

I will wait awhile before doing anything about the bank account in that case, and will get my info together and ring for advice on Monday. Thank you again, it's amazing how complete strangers can lift a weight from my shoulders in the space of an hour since I asked the questions, I can't thank you, and others on this site, enough.

Helpmeoutofthismess

elljay wrote: »

Thank you so much both of you for such reassuring responses. I feel so relieved - I'm still not sure it's the way to go as my business is involved and I really want to sell it, which might get me off the hook totally if it sells at a decent price (probably not though, as it's very run down).

I will wait awhile before doing anything about the bank account in that case, and will get my info together and ring for advice on Monday. Thank you again, it's amazing how complete strangers can lift a weight from my shoulders in the space of an hour since I asked the questions, I can't thank you, and others on this site, enough.

Best of luck with whatever you decide to do

elljay

Thank you. Something's just occurred to me however, I have had 2 circumstances recently where only a cheque will do for payment. One is my landlady and I don't know how else to pay her, she says she doesn't have a bank account (she takes my monthly cheque into a local bank and they give her cash - a really old fashioned way but obviously still happening) She lives a way away so cash isn't a possibility so that leaves just a postal order and I'm sure that will ring alarm bells. The other is a holiday cottage I booked, several members of the family are going and paying me their share and the lady would only accept a cheque again, I tried offering bacs but she didn't want to give me her bank details.

Is there any way around this?

alastairq

Postal Order, but ensure it's 'crossed' to payee?

Of course, there's a fee involved too....

Credit card 'cheque?'

Your problems are entirely unusual today...

elljay

Thank you. I could use a postal order for most things, but it would ring alarm bells with my landlady. I'll have to think of another option.

LJ