Any advice greatfully received

Maya

Thanks for the info about the pre-paid card peeps, that's really useful to know... only drawback is it seems quite expensive - and being on benefits every penny counts (don't mean to suggest any of you are millionaires - do realise we're all on here for a reason!)

Sorry to harp on the same point, but would still like to know how likely it is they'll check (all my accounts have been declared) - and what would happen if they did, and I hadn't... does anyone know? Know it might seem trivial in some peoples eyes, but like I said, I quite often can't get out when my illness flares up...

Also, if anyone has any tips on my other questions too, would be really appreciated :A

NekoZombie

Maya wrote: »

Thanks for the info about the pre-paid card peeps, that's really useful to know... only drawback is it seems quite expensive - and being on benefits every penny counts (don't mean to suggest any of you are millionaires - do realise we're all on here for a reason!)

Sorry to harp on the same point, but would still like to know how likely it is they'll check (all my accounts have been declared) - and what would happen if they did, and I hadn't... does anyone know? Know it might seem trivial in some peoples eyes, but like I said, I quite often can't get out when my illness flares up...

Also, if anyone has any tips on my other questions too, would be really appreciated :A

You have a *duty* to report all information to them. You actually sign an affidavit to the effect that you have told the truth and are not withholding any information. Not being harsh, but bankruptcy usually comes with loosing access to switch, though ask Mike about it, as he kept his.

I personally don't think those cards are too expensive - you are, after all, paying for a service. Free banking isn't really free - most of us have had to pay interest on CCs or banking fees at some point. In essence, somewhere along the lines you end up paying. Its a question of when, not if. If you look at it that way, £1 per transaction isn't so bad.

NekoZombie

Therefore:

1. Unlikely - be prepared to use either a cashplus card or electron
2. If you need to borrow funds to set up your business, yes, you may have problems getting access to what you need.
3. It is notoriously difficult for bankrupts to get back on the credit ladder, but it is possible. Start by making sure your credit file is up to date post discharge, with all defaults marked as settled.
4. Student loans cannot be written off. No loophole available.

Maya

NekoZombie wrote: »

Not being harsh, but bankruptcy usually comes with loosing access to switch, though ask Mike about it, as he kept his.

Thanks for your emails - one thing - who's Mike

I sense you think I'm being a bit of a naive idiot, sorry, I don't mean to come across that way - I do appreciate the enormity of going bankrupt and how worrying about whether I have a card may seem a bit pathetic in comparison to others worries, but it's only because I have Behcet's Disease, which makes me very unwell at times and unable to do certain things. I feel I need the card in order to still feel independent. And I do appreciate that the pre-pay card doesn't seem like much, but I can't work so have a very limited income, and I've never had a credit card or gone over my overdraft limit - I guess I'm just not used to paying for that service. Guess if I think of the money I pay for the cash card being the same as the £10 money I would have to pay towards my debt though, they'll even each other out

Thanks again for your replies - I do really appreciate it lots - just trying to figure out what to do for the best :A x

Jonto_3

fermi wrote: »

You will be committing an offence if you deliberately withhold details of an account. You can request that the OR leaves an account open, but the bank may still close it.
This link gives details of accounts open to BR's, some of which do include a Visa/Electron debit card.
This can be used for on-line shopping at most supermarkets except Tesco.

http://www.fsa.gov.uk/pubs/public/bank_account.pdf



No loophole. It has been closed. Believe me, I have checked and then checked again. Anyway, you don't pay these back until your income is quite reasonable.

Working on the other questions.....:)

It's not unknown for some people to have taken out unsecured loans (which are proveable in a bankruptcy estate) to discharged their students loans prior to submitting a petition but this is most definately a BRO offence. Some people don't mind having a BRO against them and have nothing to lose though.

I am not advising you to do this by the way.

jobby_2

Hi Maya

Behcet's can be a real nasty, worked with a lady who suffered the same and appreciate how debilitating it can be - good luck with next steps

Coop and electron card is working well for us - went BR in Nov 06 but have not had to shop online so can't comment on that, have used it to book other stuff online and have not had problems - coop have been fab so far

hope this helps

tigerfeet2006

We currently have an Electron card with the Halifax and have not had any problems using it on line at all. There are only 3 places where I have had problems with using it. Online with Tesco's, booking trains and booking jotel room's with Travel Inn. The local train station will not take Electron either.

We have just applied for the CO-op one prior to taking the bankruptcy route and even with zero credit rating they have excepted us. So give it a go.

NekoZombie

Mike is MikeStHelens. Maybe PM him?

NekoZombie

Maya wrote: »

Thanks for your emails - one thing - who's Mike

Guess if I think of the money I pay for the cash card being the same as the £10 money I would have to pay towards my debt though, they'll even each other out

I think you'll find they more than even out. With a debt of 15000, you're obviously not going to pay that in charges. If you get a flexi account and say use it once a month for tesco, with electron covering everything else, thats £12 a year. At worst, its £59.50 a year in charges for unlimited use. All I'm trying to say is to get a sense on perspective. This really is a very small issue.

Mike_St_Helens

Howdy - Just reading through this...

Hi Im Mike ....

I think the only reason I kept my 'full' debit card was that I had been with Lloyds for years, had business accounts with them.. never borrowed from them though. When I went B I went in and stold them.. I was ushered off to a little room whilst the ' Bankruptcy expert' at my branch looked at my account, TBH I dont think she knew what she was doing. Anyhows, they put a 'marker' on my account that says dont lend, but said I can keep all the other facilities as I have bnever borrowed from them.

That was that really, Ive had new cards and cheque books since. I do think I slipped through the net mind.