Bank Account, mobile and car insurance

Likesplants

I opened a coop bank basic account when I got my IVA just before they changed their policy and stopped accepting IVA and undischarged bankrupts. If I now file for bankruptcy could they close my account? If so can anyone recommend an alternative please? I can't go to Barclays. Also my contract for mobile is £13 a month. Would I need to include that in bankruptcy or can I go on paying it as it's so low? As if I pay as you go it's only £3 cheaper and I get a very good deal for my £13. Also re car insurance. I pay £22 a month and it's due to run out in January 2015. Do I have to include that in bankruptcy too or can I continue to pay it in hope that I'm allowed to keep my car? Thank you for any advice anyone can offer.

tigerfeet2006

Likesplants wrote: »

I opened a coop bank basic account when I got my IVA just before they changed their policy and stopped accepting IVA and undischarged bankrupts. If I now file for bankruptcy could they close my account?
IF YOU HAVE BEEN USING IT WITHIN THERE t&c'S THEN THEY WLL LET YOU CARRY ON WITH IT.
If so can anyone recommend an alternative please? I can't go to Barclays.YOU COULD OPEN A BARCLAYS CASH ACCOUNT AFTER BR IF YOU SO WISH, THIS WON'T BE A PROBLEM

Also my contract for mobile is £13 a month. Would I need to include that in bankruptcy or can I go on paying it as it's so low? As if I pay as you go it's only £3 cheaper and I get a very good deal for my £13 NO THIS WILL BE FINE

. Also re car insurance. I pay £22 a month and it's due to run out in January 2015. Do I have to include that in bankruptcy too or can I continue to pay it in hope that I'm allowed to keep my car? Thank you for any advice anyone can offer.

The car insurance is a slightly trickier one. Some policies won't insure you if you are BR so it's best to check with your insurer. Is your car essential for you to get to work? How much is it worth?

TheGardener

Hi - Co-ops rules seem to be that existing accounts will not be closed so that should be fine. Once you are BR, then Barclays will open a basic account for you - they can not try and get money back from you after BR (that would be illegal) Most on here have found they are very helpful despite previous debt....but of course, as a BR - you have not debt!!

Phone - If you are not in arrears with it you should just carry on paying it - my OR never asked about the phone and seemed happy with the costs - just keep the DD going with your current provider.

car insurance - Again, if you are not in arrears, check your policy document to see if there is any mention of BR - mine just carried on as normal but - once it has expired, you may find getting another policy on instalments difficult, I had to pay upfront for the year, it was a bit painful at the time but I saved up during the next year and now pay upfront every year - its one less DD to worry about.

Likesplants

Thanks for the replies. My car is worth about £800 as it's 13 years old. I don't currently use it for work but I'm looking for a new job so may need it for that. Also my husband uses it as he works unsociable hours at times so can't use public transport. We also use it to take my 85 year old mother out as otherwise she's housebound. And we have to travel 150 miles each way about once a month to see my husbands 83 year old mother. The petrol is cheaper than the train fares would be. Also we have to pick up my husbands son twice a month and that's about 50 miles and not doable by bus or train. Would this be a good enough case to ask for being allowed to keep car?

alastairq

Would this be a good enough case to ask for being allowed to keep car?

Probably.....you clearly demonstrate there is a need, therefore the car should be exempted as an asset.

However, the 'need' has to be yours, so the OR may possibly ask if your husband can 'purchase the OR's interest in it?'

in which case, be a lot more harsh and realistic in its value.....the less it really is worth, the less to purchase the interest?