Lloyds TSB Cheque Dilemma.

Notgotapottoweein

Hi Guys.


As you probably all know me and my better half are going BR on Monday.

Now i have 2 credit cards with Lloyds TSB, one which i owe £15k and one which is in credit by £96.67p ( its in credit because payplan were paying my dmp into the wrong account! ).

I contacted Lloyds last week to see if they'd send me a cheque for the £96.67p ( very cheeky i know ) and i received it today which is all good so far.

But my dilemma is this. Do i pay it into my existing Natwest Step account knowing full well it'll be frozen on Monday so would it clear and would i still be able to get my hands on the cash?

Or do i hang onto it until monday when i open my new coop account? If i do this though surely once the OR tells Lloyds i'm bankrupt then they will stop it won't they?

tigerfeet2006

Not sure they will stop it, the way the wheels turn in these organisations they probably won't get to it before it is cashed. I would wait till the new account is opened maybe make it your first deposit. If they stop it before it's cashed then nothing ventured, nothing gained. Don't see how they can though it is your money.

dalip

You could always use one of those cheque cashing companies, i know they charge but at least you would then have the cash there and then.Or is there anybody elses account you could pay it into ?Dalip

Notgotapottoweein

I thought it had to be paid into an account in my name?

LesleyL_2

not sure how cheque cashing companies work but usually a bank will need it to go into an account with the same name as is on the cheque

Lesley

stubie

Open a new account after BR and put it in there. Do not show it on you BR forms as money owed to you.

Go to the cash point on Sunday night and over max your cards, try using small amounts i.e. £30/£40 at a time. You sould be able to do this 3/4 times before it halts your transactions. You will need some money to live on between BR and getting your new account open.