bankruptcy orders and pre pay master cards

taxiguy

hi, i went bankrupt on nov 1st this year and just had my OR interview yesterday where i was told i would not be allowed to keep my pre pay cashplus mastercard i thought the idea of these cards where for bankrupts and people with bad credit ratings your thoughts and comments please

cheers

Conor_3

Err, no. There's money on it and they want that money.

wherediditallgo

I agree with Blind. The OR doesn't know what a prepay card is, & has assumed it offers credit. This was my own OR's initial view - when I spoke to him weeks after going BR & happened to mention I was going to apply for a prepay Mastercard, he told me I wasn't allowed to have a credit card. I had to explain what the card was, & that although it carries the Mastercard name it offers no line of credit whatsoever, since I could only spend what money I'd put on it. I sent my OR the link to the site, & he later got back to me saying he wouldn't have any objection to me having the card but may want the account details at a later date & may ask for a statement at any time. I told him when I got the card, but in the end he never asked for any account info, so I presume his earlier statement was to see whether I'd actually bother getting the card if I had something to hide that might later be revealed by the statement.

An OR who doesn't understand the premis of the card may think it's to be used to obtain credit against the terms of the person's BR status. Even an OR who does know about the card might be concerned that an existing card could be used to hide assets not declared either before or after going BR, since it's possible to have many thousands on the card at any one time. It's no different from a basic current account, & as the OP already has the card, the OR will probably want to see what money's there to be sure it's not being used to hide money. However, there's absolutely nothing to stop you having the card, & once the OR's seen your statement & is satsfied you should be able to use it as before.

Richard_S

taxiguy wrote: »

hi, i went bankrupt on nov 1st this year and just had my OR interview yesterday where i was told i would not be allowed to keep my pre pay cashplus mastercard i thought the idea of these cards where for bankrupts and people with bad credit ratings your thoughts and comments please

cheers

Hi taxi,

I agree with the consensus so far; if you've got excess funds on it then the O.R will want it; if not he/she will have no interest at all.

It's only a means of paying for goods and services that a cash card or electron card won't permit.

Richard

d123

It might be an idea to actually print off a few pages from the Cashplus website to show/send to the OR.

A picture is worth a thousand words.

Richard_S

d123 wrote: »

It might be an idea to actually print off a few pages from the Cashplus website to show/send to the OR.

A picture is worth a thousand words.

It is d123,

But it's the recent movements on the account that they're more interested in.

Posthinking

Conor wrote: »

Err, no. There's money on it and they want that money.

Er..is he still talking crap? Hope you're all well

fermi

Posthinking wrote: »

Er..is he still talking crap? Hope you're all well

Yep.:rolleyes:

More importantly, I think we all hope that you are getting on OK. It's been a long time without hearing anything.

Richard_S

Posthinking wrote: »

Er..is he still talking crap? Hope you're all well

Good morning Postie,

Nothing much changes around here does it?:rolleyes: :rolleyes:

Hope you're keeping well, and good to see you again.:D

Regards

Rich