Opening Bank Account pre-BR

betterlatethannever

Scarlett...have you got a post office account. They can only have benefits paid into them and as such, the OR doesn't touch them. If not, open one, quick! I thinkk the OR does allow you to get the money, but i'm not sure.

betterlatethannever

MammaCas wrote: »

Thanks to all for replies.

I think I do need to change pre-BR as we have a c/card and loan with Nationwide (current account providers) and when we stop paying the min payments they may, apparently, help themselves to the account :eek:

So, does this sound feasible?:

Transfer all i/cs to an old basic abbey account that I already have plus all essential d/ds (I don't owe Abbey any money but OH does - if account is in my name only, they can't help themselves can they?)

Day before BR withdraw all surplus cash for living expenses
(or will this upset OR?)
Day after BR open cashminder??

Thanks so much for everyones help.

I take it your not the one going br then MC? if so, then you should be fine,
The OR doesn't seem to mind you withdrawing money from accounts for essential living, though if it was an excessive amount you might have to explain it. As long as you can explain any transactions, and account for them, then your fine.
I withdrew all the money (and beyond, as i ate into my O/D, a few weeks before BR and it never got questioned) but was all essential living expenses

wherediditallgo

MammaCas wrote: »

So, does this sound feasible?:

Transfer all i/cs to an old basic abbey account that I already have plus all essential d/ds (I don't owe Abbey any money but OH does - if account is in my name only, they can't help themselves can they?)

Day before BR withdraw all surplus cash for living expenses
(or will this upset OR?)
Day after BR open cashminder??

Thanks so much for everyones help.

Sounds fine to me. I was still clearing out my account on the morning I went BR, feeling like every alarm in the place was going to go off & a booming voice yell "Stop WDIAG - she's going BR in a few minutes!"

MammaCas

betterlatethannever wrote: »

I take it your not the one going br then MC? if so, then you should be fine,
The OR doesn't seem to mind you withdrawing money from accounts for essential living, though if it was an excessive amount you might have to explain it. As long as you can explain any transactions, and account for them, then your fine.
I withdrew all the money (and beyond, as i ate into my O/D, a few weeks before BR and it never got questioned) but was all essential living expenses

Yep, it will be both of us going BR....

The reason for using the abbey account now is to stop current account helping themselves (we had c/card and loan with them).

I have an abbey account in my name only. I don't owe abbey any money but OH does, I'm assuming they can't help themselves to my account for OH's debts?

Any money I withdraw pre-br will be for food, petrol, etc. I am hoping I can time it so rent etc has just gone out....:rolleyes:

Richard_S

Scarlett.1974 wrote: »

Hi Richard,

Hope you don't mind me asking (and MC, sorry AGAIN for hijacking a thread of yours ), but you do seem quite well experienced with changing bank accounts - I totally agree with you that the money coming in is more important than the money going out I have SO many different incomings into my account - wages (weekly), DLA, tax credits, child benefit all 4 weekly and at different times of the month. Now, my wages won't be a huge problem, I can ask them to pay me by cheque, but all my different benefits could cause some headaches so I have a couple of questions if you don't mind 1. IF any of them slip through the net and go into the natwest account after BR will netwest let me have this money back? and 2. do you know if it's possible to have these payments made in giro form for a payment or 2?

Many thanks

Hi Scarlett,

You don't owe Nat West anything so whatever happens you will have access to your money; they may well freeze the account when they find out about your bankruptcy but the O.R will contact them, and quickly, to confirm that you should have access to your bank account for essential expenditure.

NW's usual procedure under those circumstances is to encourage you at your earliest convenience to withdraw, or arrange for a transfer, of all funds so they can close the account.

I used to be a sub Post Master and was well versed with benefit payments, but things have changed dramatically in the recent past, so I'm not sure exactly what the current situation is. I am certain though, that if you contact the relevant agencies in good time and explain the situation they will either arrange for payments to be made by Giro or to credit the funds to an account of your choice.

Have you got time to open a Post Office account for your benefits to be paid into? That's an account that's seldom affected by bankruptcy.

Richard

MammaCas

wherediditallgo wrote: »

Sounds fine to me. I was still clearing out my account on the morning I went BR, feeling like every alarm in the place was going to go off & a booming voice yell "Stop WDIAG - she's going BR in a few minutes!"

:rotfl: I'm sure I'll be exactly the same - I'll feel like I have a big sign on my head saying 'I'm going BR tomorrow'.:eek:

Richard_S

wherediditallgo wrote: »

Sounds fine to me. I was still clearing out my account on the morning I went BR, feeling like every alarm in the place was going to go off & a booming voice yell "Stop WDIAG - she's going BR in a few minutes!"

I know the feeling WDIAG,

In the week prior to our Creditors petition being heard I withdrew every penny from every account we'd got, and we'd got a lot.

I wasn't quite sure what to expect but I didn't want to be embarrassed by being short of some ready cash.:rolleyes: :rolleyes: In the event we didn't need it all, so we went on holiday; again.;)

Tis a hard life.:rolleyes:

MammaCas

Richard_S wrote: »

I know the feeling WDIAG,

In the week prior to our Creditors petition being heard I withdrew every penny from every account we'd got, and we'd got a lot.

I wasn't quite sure what to expect but I didn't want to be embarrassed by being short of some ready cash.:rolleyes: :rolleyes: In the event we didn't need it all, so we went on holiday; again.;)

Tis a hard life.:rolleyes:

:rotfl: :rotfl: :rotfl: Love it!

Actually, I booked a short break to Centerparcs for April and the balance £200 is due soon. V cheeky I know, but if I pay it on c/card will I get in bother with the OR? Not planning on going BR till Feb??

:rolleyes:

Richard_S

MammaCas wrote: »

:rotfl: :rotfl: :rotfl: Love it!

Actually, I booked a short break to Centerparcs for April and the balance £200 is due soon. V cheeky I know, but if I pay it on c/card will I get in bother with the OR? Not planning on going BR till Feb??

:rolleyes:

I can only go on my own experiences Mamma,

We'd been on holiday just before our bankruptcy:D and then booked again just afterwards.:j The first had been paid for entirely with a card:eek: and we'd paid for part of the second one with a card.:eek: :eek:

The O.R did query it but I just posed the question that given the "stress" we'd been under "weren't we entitled to a break"? He wasn't happy but I wasn't interested in whether he was happy or not.:rolleyes: :rolleyes: We'd both got an all over tan and were very relaxed about things.:D

Richard

Scarlett.1974

Thank you Richard and BLTN :T

What I'll do is work out today the dates of my benefits up to the date of our BR (18th Feb ) and see which ones will fall in the 2/3 weeks afterwards and see if I can arrange to have those paid in giro form for possibly just the one payment. I should then have the Co-op account opened by the time the next payment is due and will have them paid in there. If they say "no" to giro (I don't even know if you can still get them!) then I'll contact the DWP about getting the letter of invitation to open the Post Office account.

I just didn't really want to go through the hassel of getting the payments into the PO account, to then only have to change it again to have them paid into the Co-op account - does that make sense?! I just don't know if the benefits people might get 'funny' about it - I mean, IF I have to get the PO account, then by the time I get the Co-op account that will be 4 seperate accounts I'll have changed my benefits for in 5 months :eek:

Richard - loving all the holidays, that's made me pmsl :rotfl: