Br.Question

sam222

Hi there
I am in the processing of Br.(i,ve already seen CAB) And receiving my ESA,Child Benefit &....through a current account in the CO,OP,Bank. So is my account get freezed ?and How long for? Do i need to open a new account somewhere else or can i just ask to be paid in to my wife account in Natwest .many thanks

sundays

Nothing actually get freezes but you need the permission of the bank to continue to operate as a BR, that is why most change accounts to BR friendly banks before hand, and get everything in order so there is no disruption to there finances.
If you havent done than and still plan BR , get every penny out before BR. Most banks will close you down the execption is co op, barclays and some times the natwest , but you will need to have the most basic of accounts with them to be kept open. For cop op its the cash minder account sounds like you have that already, just ring them following the BR and they should be fine.

There is no magic button that stops life or things operating when you go BR so you could still use that account until they are notified by the OR.

sam222

Many thanks sundays.
can i just say my account with the CO.OP.Bank is Current Account Plus,do i still need to close this and ask to open a basic cash minder account?

Ineedaname

Unfortunately you will only be able to hold a Cashminder account once BR. Best to get it sorted before you actually go BR. Just give Co-Op a call, let them know you are about to go BR and ask to have your account transferred to a Cashminder for BR purposes. They should transfer over all your DDs/SOs but you'll need to let DWP/Council know the new sort code and account number once you have it.

sam222

Many thanks Ineedname.
i will call bank first in the morning to be transfered to a cashminder account,but can i ask when i let the DWP/council/HM. know the new sortcode/accountnomber ,how long taks for this people to active the new account number i mean to pay to new account number,don't u think i will loose 1 or 2 payment?or shall i wait abit.

many many thanks

mumtomany_2

In my experience barcalys or co-op banks will keep the accounts open even if you have a basic bank account. Where in the country is this happening?? My advice is to use your wifes account until after you are decalred bankrupt and then go out a get a new account with either barcalys or Co-op.

But as this could an area issue so it is def worth speaking with your bank first but go to the branch not a call centre!!

sam222

Many thanks mum...
I think this is more reasonable to ask to be paid to my wife account, and as u say it is def worth to pop in to a local CO.OP branch and speak to them,but again can i ask,, when i give my wife account number to HM/DWP ,,,,,,,How long dose it take to be activate i mean i heard if u ask to be paid to a new account it taks 3-4 weeks to be paid to new account?!!

many thanks again

Ineedaname

Using your wife's account and then returning to the Co-Op after BR is double the work for you as you'll have to advise all income payments of your wife's account details and then again once you have sorted the post BR Co-Op account out. You'll also need to reset all your DDs and SOs personally.

The Co-Op will allow you to have a bank account with them post BR, but not a full account as you currently have. They may be able to simply downgrade it to a Cashminder account which would be the easiest solution. If they are unable to do that they will open a Cashminder account and transfer all payments over for you. If you sort this out before you go BR then you know you have a BR acceptable bank account that will remain open throughout.

If the Co-Op supply you with new account details then inform DWP and all other income streams as soon as you have them. They were pretty quick at changing the details for me. I think I told them just after one fortnightly payment had gone into my account and the next one went straight into my Co-Op account two weeks later.

Do you have a date to go BR yet?

I'd ring the Co-Op tomorrow and have a chat with them at least, it shouldn't be a problem to sort out and it's fine to let them know why you need to have a Cashminder account now instead of the full current account.

Just to clarify. Barclays are also unlikely to allow a full current account to remain open after BR. If any debts are with them I believe they will not open a new CashCard (basic) account until after the BR Order date.

sam222

Many thanks Ineedaname
I will take ur advice and talk to bank first in the morning,,by d ay
i dont have a Br. date yet.. the reason that i wanto be quik is that nearly 7-8 monthes ago dissmissed from my job becuase of ill-health.soon after i was adviced by cccs to stop paying creditors and go Br.but couldn't make my mind becuse of my ill-health and really wasn't sure that i like to go Br..even i never set up a token payment,, but now i see my health hasn't got any better and creditors driving my family and i really mad ,,so i just like to be fast to fill Br.form however just not sure how to explain to OR ,the reason why getting me so late to respond for my debt .
Many,Many thans