Co Op to stop basic accounts for BR

PippaGirl_2

Coventry is one of the 12 I have emailed, hopefully they will reply and say which if their products they offer to BR. Wonder what the other 11 will say too.

alastairq

As I have said before, there seems to be no problem retaining a Co-op CAshminder account if it is already in place prior to a BR petition.

I am still amazed to find so many folk posting on here who have jumped into BR with both feet, but not having researched the issue thoroughly in the first place.


[I am also saddened that so many folk still think that BR is an easy-out....a get-out-of-jail-free card to 'get rid of debt'....!
It amazes me how there can be so much dual morality displayed by some.....how come owing money comes higher up the list than...for example...breaking up a family?

[With BR, there is but one who suffers....the debtor. Creditors do no such thing...yet with divorce, so many suffer as a result....but that's entirely ok these days.]

But, without BR to allow settlement of an intolerable situation....[regardless of how it arises]....what is the option?

Doing nothing? [where no creditor can achieve closure, even if the Courts are involved...if the money isn't there then even a Court will award a big fat zero.

Attachment of Earnings only works if the earnings are present, or sufficient...and can be countered easily.]

BR allows settlement of debts, under a fair and proper system of control.

Easy-out?

I think not!

live'n'learn

I went to the local co op bank and applied for a cash minder account over two weeks ago and was told there would be no problem.

I then get a letter saying due to my credit they cannot give me an account but I could apply for a cash minder account. It was annoying as it was only the Cash minder account I applied for as I told the guy I was applying for BR next month.

I thought they had messed up but maybe they knew exactly what they were doing.

Is it worth going back to them to try and get a CashMinder account or am I totally wasting my time?

BASFORDLAD

If you are not bankcrupt then you should be ok,

The advisor was only trying to earn themselves more commission

PippaGirl_2

I have emailed Co-op for clarification on whether people can open a cashminder account in future and then go BR and retain the account ie this therefore will only affect the few people who do not have the foresight to open the cashminder before going BR.
I will report back their reply.

sniggings

alastairq wrote: »

As I have said before, there seems to be no problem retaining a Co-op CAshminder account if it is already in place prior to a BR petition.

I am still amazed to find so many folk posting on here who have jumped into BR with both feet, but not having researched the issue thoroughly in the first place.

The...[rules]...have just...[been...] changed! No..[.] on...e knows for ...[sure] ...how...the new rules [will affect...those with accounts...[before going...] BR...

debtinfo

sniggings wrote: »

The...[rules]...have just...[been...] changed! No..[.] on...e knows for ...[sure] ...how...the new rules [will affect...those with accounts...[before going...] BR...

I see your looking to make new friends again

sniggings

debtinfo wrote: »

I see your looking to make new friends again

I see you have nothing better to do than pick at my posts...again.

alastairq

sniggings wrote: »

The...[rules]...have just...[been...] changed! No..[.] on...e knows for ...[sure] ...how...the new rules [will affect...those with accounts...[before going...] BR...

In response.............

With immediate effect (from September 17, 2012) the bank is no longer accepting new customers who are un-discharged bankrupts, this decision does not affect the bank's existing customers

from the Co-op site below.



http://www.co-operativebank.co.uk/servlet/Satellite/1347603516521,CFSweb/Page/CFSCtplStandard

As I said before, open an account pre-BR, and it will remain open, subject to BR rules.

The Co-op action only affects applicants who are undischarged BR.

sniggings

alastairq wrote: »

In response.............



from the Co-op site below.



http://www.co-operativebank.co.uk/servlet/Satellite/1347603516521,CFSweb/Page/CFSCtplStandard

As I said before, open an account pre-BR, and it will remain open, subject to BR rules.

The Co-op action only affects applicants who are undischarged BR.

I understand that but still feel we need to wait to see what this means in real life, the OR will still have to inform the bank that one of their account holders has gone BR, it will then we can see if these accounts are closed.

But I hope you are right.