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

toomuch2

I hope this is the right place for this questions. Having been around the houses and listened to a quite a bit of advice from NDL and SC I fear that bankruptcy might be the best/only realistic option.

Briefly I have a tax debt that will become payable 31 Jan. Up to this point we have no outstanding payments - albeit a little stretched.

I have a couple of questions.

1. On of my creditors (should I go BR) will be barclaycard. Will this mean that Barclays will not accept me or allow me to keep an account after BR.

2. If they did allow me to have a basic account would they offset any money as soon a my BR happened.

3. Part of my debt is an overdraft in a joint account with my wife. Would they allow me to include that in my BR or would they go after my wife. Ditto for the joint loan (they insisted we both sigh the loan agreement)

I will ask SC on Monday, but it would be useful to be prepared.

Thanks

Done

Joint means joint, if you go bankrupt your wife will owe Barclays the full amount.

tigerfeet2006

toomuch2 wrote: »

I hope this is the right place for this questions. Having been around the houses and listened to a quite a bit of advice from NDL and SC I fear that bankruptcy might be the best/only realistic option.

Briefly I have a tax debt that will become payable 31 Jan. Up to this point we have no outstanding payments - albeit a little stretched.

I have a couple of questions.

1. On of my creditors (should I go BR) will be barclaycard. Will this mean that Barclays will not accept me or allow me to keep an account after BR.

Barclays are usually good and will let you keep a basic account after BR but not any other type with them. It might be worth getting a Co-op account as a fall back, but don't tell them about your impending BR.

2. If they did allow me to have a basic account would they offset any money as soon a my BR happened.

They are not allowed to by law.

3. Part of my debt is an overdraft in a joint account with my wife. Would they allow me to include that in my BR or would they go after my wife. Ditto for the joint loan (they insisted we both sigh the loan agreement)

Unfortunately your wife will be responsible for the full debt as you are jointly and severally responsible. She will have to sort out repayment terms with them. See what SC say on Monday as to what her best course of action is.

I will ask SC on Monday, but it would be useful to be prepared.

Thanks

One further thing, don't get joint bank accounts before your BR is off your credit file or it will link her to you and your BR.

nervousandready

Bank Accounts: I'm going BR tomorrow and was going to open a Co Op account, just got the forms, but now seeing this will go for Barclays. Can I open it today and tell them I am going BR tomorrow? I owe Barlaycard MC and Visa quite a lot...

banksshouldworry

I went to Barclays to open a new account before BR and they told me I couldnt because I owed them for my OD, Loan and Barclaycard.

But once I went BR I went into Barclays and they opened my account right away as an undischarged bankrupt without any problems. There is no online banking with them though.

I tried to open a Coop cashminder account the day before BR but they take around 48 hours to open the account. I dont know whether they will let me keep that one though.

nervousandready

banksshouldworry wrote: »

I went to Barclays to open a new account before BR and they told me I couldnt because I owed them for my OD, Loan and Barclaycard.

But once I went BR I went into Barclays and they opened my account right away as an undischarged bankrupt without any problems. There is no online banking with them though.

I tried to open a Coop cashminder account the day before BR but they take around 48 hours to open the account. I dont know whether they will let me keep that one though.

I opened a Barclays account the day before BR and told them what was happening. They were fine about it, even though I owed Barclaycard...they have been beyond great actually, and I already have card etc and they are switching over DD's etc. I told the OR about this account and they don't seem to have a problem...

woodformoretrees

Just to add my own positive experience with Barclay's yesterday. I'm still undischarged and there was no problem whatsoever with opening an account.
I was advised about no access to online banking - and, because I have online banking with my managed account I queried the reason for this. It's because there is access to credit via online and to be able to block that on a bankrupt's account would be a cost for the bank that's not worth it. I can understand that, but did also reiterate that I find online banking absolutely invaluable.
They can however offer their text service, which is at least a small help so I signed up for this.
I was told that as soon as I am discharged I can provide Barclay's with a letter and will then have full access to the online service.

Onwards and upwards.

Cazc31

Just to add, I am an undischarged bankrupt and found Barclays really helpful. I went into the branch once I was declared bankrupt and they opened the cash card account straight away.
They also told me I couldn't have access to online or telephone banking but I went onto the Barclays website and registered for online banking and surprisingly they sent me the info to set up online and telephone banking really quickly and I have been using it ever since so I would try that as it worked for me! Couldn't survive without online banking! It won't let you apply for an overdraft or cheque book or anything like that so it's all good.:j

nervousandready

ifwisheswerehorses... wrote: »

The OR doesn't freeze them the Bank does, once the OR writes to them saying you are now BR. So if you have one of the 'two' BR friendly banks and have asked the OR for either the coop/barclays bank to be your main account they will say to the bank they have no interest in it.

Often 'other' accounts appear to be active until a user tries to use said account then it is promptly closed.

If...x

My OR tells me that they will write to all my creditors within 12 weeks of the date of bankruptcy. I opened a Barclays account the day before and told them what was happening - even though I owed Barclaycard a reasonable sum, they were happy to open the account and arrange transfer of DD's. In fact, they could not have been more helpful. The OR has said it is up to Barclays if they let me keep the account once they are officially informed of my situation, but as I said, I was up front with them and they had no problem with it.

dazedandconfusticated

hi ,if anybody can shed a bit of light on this for me,i would be indebted ,I petitioned my bankruptcy on 30/01.2014 and have spoken to the O.R and scheduled my interview for indepth analysis of my finances on 05/02/2014,however it appears my bank (as expected) has frozen my account,but my problem is who can I get a basic account with as some of the debt which forced me into bankruptcy is with both the co-op and Barclaycard ,who as luck would have it are seemingly the only banks to deal with undisclosed B.R,s like myself,i am not very hopeful that I will have the freeze lifted on my current account ,so need to be able to secure an account with another institution,any and all help in this matter would be gratefully accepted,thanks in advance.


D&C :-)