opened my co-op basic today..

tigerfeet2006

AmIdone4? wrote: »

I believe you would pay £420 on £700, as they work it out after expenses, less a £100 'buffer' and then work it out from there.

So it would be £700-£100=£600 and at 70% would = £420 (which they would take).:rolleyes:

Have you completed the BR doc's on-line, can you amend them? As you may have a liitle leway on some of the things? I would bang your rent up as I noticed someone mentioned on one of your posts?

Those figures look about right to me AmIdone4.

There is a reason Jono's rent is so low. Will go find original thread.

Jono's original SOA thread
http://forums.moneysavingexpert.com/showthread.html?t=801947

jono_1uk

if all they are gonna take is £420 .... game on i say !!!!

AmIdone4?

I know he lives with mum:), but was just trying to maximise the SOA.

Toon_Dave

Hi jono,

Can i just ask regarding the bank account, have you set up a new account before going bankrupt?

Is this what is usually done? or is that new account frozen when BR declared?

i currently have only a basic account so only cash card, no debit etc so i wasnt sure if the OR would freeze this basic account type as it cant have credit or any overdrafts on it.

Does anybody know what the correct thing to do is?

Good luck Jono with the OR and BR.

Dave.

JCS1

AmIdone4? wrote: »

I believe you would pay £420 on £700, as they work it out after expenses, less a £100 'buffer' and then work it out from there.

So it would be £700-£100=£600 and at 70% would = £420 (which they would take).:rolleyes:

Have you completed the BR doc's on-line, can you amend them? As you may have a liitle leway on some of the things? I would bang your rent up as I noticed someone mentioned on one of your posts?

You don't take away the £100 (there has to be £100 p/m surplus before an IPA can be imposed), so would be £700 * 70% which would be £490.

tigerfeet2006

JCS1 wrote: »

You don't take away the £100 (there has to be £100 p/m surplus before an IPA can be imposed), so would be £700 * 70% which would be £490.

Doh! your right . I didn't spot that .

jono_1uk

hi Toon_Dave

yup its is acceptable to open a basic acccount 1st and tell the or about it..
just been through the debt remady thing on ccc
really dont like it cozs it wont lt u enter the figures you want to enter only what it suggests so i cant match it up to my online one..
having read a post on hear about someone having iva knocked back coz of sky, i aint trying that.
they would prob make me change the car, etc ...

Toon_Dave

i have a basic account already so i'll have to check in that case that i dont need to close it and reopen the same basic type which just seems a pointless exercise really. i will find out after my phone calls tm.

Good luck with the BR when it happens too m8.

Dave.

dodecanese

Toon_Dave, regarding the basic account- I set my Coop cashminder up before I went BR- when I spoke to OR on Tues (BR on Monday)- he was happy to leave it open- called Coop today and told them Id "done the deed" and they were fine- sorry to hijack your post Jono.

tigerfeet2006

Toon_Dave wrote: »

i have a basic account already so i'll have to check in that case that i dont need to close it and reopen the same basic type which just seems a pointless exercise really. i will find out after my phone calls tm.

Good luck with the BR when it happens too m8.

Dave.

Is your account with the Co-op or Barclays? If not then even if the OR says he is happy to let you keep the account, the bank will say no :eek: .