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

sparkiedave

so, are we saying it's better to tell them, or not?

tigerfeet2006

I would say don't tell the Co-op when you open the account just to be on the safe side. I may be worrying over nothing but why invite trouble.

alastairq

A comment on the above.....................as has been mentioned a time or two on here......you do not pre-book bankruptcy.


There is no obligation whatsoever to keep a BR appointment in Court.


Co-op, especially, will not do anything with regards to BR until the petition has been granted, and they have been contacted by the OR.

Much can happen with an individual's circumstances, right up until the hour.


People change their mind?

Maybe find another debt solution?

Win the lottery?

Or simply, bottle out?

The pre-BR preparation I myself have advocated is a purely personal event.

Nothing to do with creditors, the IS, or the Courts.


Everything concerned with BR is, after-the-fact.

So there is no obligation, or even, need, to mention BR to anyone, before the Court and the Judge stamp the petition.

sort_me_own_yard_out

Just to let you know of my co-op banking experiance.

I have held a cashminder account for a few years now but only used it for odds and sods never as a proper account .Once the wheels were in motion I opended a second xashminder to put my allowances in like car tax, car maintaince and holiday, keeping them seperate from my everyday. I started using my original account as my main account wages, mainytinace dd, etc in January and went Bankrupt 7th March. I had my OR interview 27th march and he said he couldnt see a problem with keeping my main account but my second maybe closed. transfer any monies out of it just incase. he also said it would probably sound better coming from me rather than him that i am now bankrupt.

I called the co-op who have a dedicated bankruptcy dept and as always greeted with a very helpful, cheery voice at the other end. Explained everything and she confirmed both accounts would be fine i have ran my accounts in good order and they dont have a problem keeping them open it is just a paperwork exercise.

I hope this gives a little assurance to anyone that is going through the process as it is an added worry.

Rylynn

I opened my Co Op account before my BR court appearance, I told the OR that it was open and why I had closed the Nat West one, did not owe them any money but they will not accept or did not back in 2008 people who went BR.

I have had my Co Op account since 2008 with no problems whatsoever and I hope it stays that way. I have never asked to upgrade it, never gone a penny overdrawn either and all my DDs are paid from it as well. I have found them to be a very good and helpful bank if I have had to phone them. I have online banking (it is not instant updating as someone said) but I am happy.

alastairq

(it is not instant updating as someone said

apart from cash [machine or Post Office] withdrawals?

Rylynn

alastairq wrote: »

apart from cash [machine or Post Office] withdrawals?

Yes they are up to date, I was hoping to ask for a savings a/c now I am worried in case I lose my ordinary one?

crowmans4

Ms_Survivor wrote: »

Hi there

New here & this thread caught my eye. Not sure if I'm posting in the right place or where this post might end up, but here we go!

I opened a Basic Bank Account with Danske Bank (was then the Northern Bank). They were the only people I didn't already owe money to I thinl! I told them at the time I would be filing for bankruptcy at some point, & they were ok with that. I was declared bankrupt in Jan 2013. The OR has already been in touch with the bank, & there is still no problem keeping that account.

Applies to those resident in Northern Ireland only. But they've actually been great.

Nasty-West???? lol love that! :rotfl:

Hope to chat.

Ms S

ok a bit of help please. i imagine i will have to go bankrupt to get out of a mess caused by an ex wife. im over 16k in debt to mbna and mint for cards i wasnt aware of yet are in my name only. my house is due to be repocessed with santander owing 150k. i have various other arrears for rates £600 and im sure others i prob dont know about.
my bank account is with halifax. my wage goes in each month. i pay out direct debits to car insurance ,mobiles phone and a couple of others.
im worried now what to do after reading on here. do i open another account if halifax one will be frozen. do i lose whatever money i have in it. please advise anyone.
given what you say about danske bank would it be wise to open an account now and transfer all dd,s and wage etc. or would that be frozen when declared BR. bit confused by all this help

tigerfeet2006

As the thread says Co-op and Barclays are BR friendly so open an account with which ever one you prefer. The thread explains the benefits of both accounts. Transfer money,wages and DD's over and run the account as normal. Halifax are not BR and will cut you off as soon as you go BR.

If you plump for Co-op then make sure you do so with as long as possible between opening it and BR.

corinne_magnin

I'm trying to plan as much as possible in advance to minimise effect on money during the period that accounts are frozen etc.