I don't want it!!

cmd:0

Evening All.

I opened a llyods cash account a few months back as was going through the process of an IVA and was advised to, that never went through in the end (im self employed) but I have been using the lloyds account as my main one since then (i really loved getting a balance and seeing cr in front of the number instead of dr!!!!) (i owe barclas %k!) and I have been managing it really well.

I went in branch last week and was told i qualify for an upgrade, told the member of staff..thanks...but no thanks..Im happy with my account.

Today, I get a visa debit card in the post and a leaflet to tell me all about my NEW account????

I had told them I was happy with my cash account...why could they not be happy with that?

fermi

cmd:0 wrote: »

I had told them I was happy with my cash account...why could they not be happy with that?

Because the person behind the counter wanted the few pounds in commission that they get from doing the upgrade.:rolleyes:

If you are going BR then you would almost certainly lose even the basic account, so in the long run it's probably not worth worrying about.

Toon_Dave

Do you get an overdraft with the new account? If so and if you are goint to go BR anyway, i would suggest to max it out and use free cash.

This Would all be cleared under the terms of the BR order.

Also i believe that Barclays and the co-op are the only 2 banks that will allow you to open a new bank account even when BR and it doesnt matter that you owe Barclays as this will be wiped, they will still open a basic account and as far as im aware it cant be declined as you will only have access to your own cash and no credit, ever on that account....i know as i have there basic account and my IP today told me about the non declining for BR.

Hope that helps a bit.

Dave.

fermi

Toon_Dave wrote: »

Do you get an overdraft with the new account? If so and if you are goint to go BR anyway, i would suggest to max it out and use free cash.

This Would all be cleared under the terms of the BR order.

Not a good plan if you are close to going BR, and it could be grounds for a possible BRU/O.

It would be "incurring debts that you knew you had no reasonable chance of repaying".

See: http://www.insolvency.gov.uk/guidanceleaflets/bro/bro.htm

If it was an OD that you had in place for a long time and had often dipped into, then the OR might (and only might) turn a blind eye.

However, being granted a new "facility" a short while before the bankruptcy and then using it knowing it wouldn't be repaid would look very bad. Although it might be OK if you had no other way to raise the BR fees for example. Even then it's not something that you can ever say would always be OK.

Toon_Dave

fermi wrote: »

Not a good plan if you are close to going BR, and it could be grounds for a possible BRU/O.

It would be "incurring debts that you knew you had no reasonable chance of repaying".

See: http://www.insolvency.gov.uk/guidanceleaflets/bro/bro.htm

If it was an OD that you had in place for a long time and had often dipped into, then the OR might (and only might) turn a blind eye.

However, being granted a new "facility" a short while before the bankruptcy and then using it knowing it wouldn't be repaid would look very bad. Although it might be OK if you had no other way to raise the BR fees for example. Even then it's not something that you can ever say would always be OK.

I never really thought about it like that....ok i retract my statement...i was only thinking of the BR quashing it. I wouldnt want it to look bad on them for using it. as u say it might be ok if you can only raise bankruptcy fees etc using it but its the big 'MIGHT'.

thanks for the info Fermi...keep me right please...cheers. :beer:

Toon_Dave

Al_Mac wrote: »

And you're proud to be dealing with your debts

i guess not...i was only thinking it could give them a bit of leway with debts etc in the interim period prior to BR. I wasnt condoning using it for nice foreign break (although sometimes may be nice).

Didnt want to give wrong advice to create more hassle...so i retract my statement on that one..

Cheers though.
D.

Toon_Dave

Below info copied from link posted by fermi. It says it all really. please ignore my sugestion on the OD front.

When deciding whether to make a BRO, the court may take into account your behaviour before and after the date of the bankruptcy order, so the official receiver will be looking closely at all your conduct.

We cannot list all the actions that could be considered dishonest or blameworthy in relation to your affairs, but here are some examples the official receiver could include in his report to court:

• incurring debts that you knew you had no reasonable chance of repaying
• giving away assets or selling them at less than their value
• deliberately paying off some creditors in preference to others
• gambling or making rash speculations or being unreasonably extravagant
• failing to keep or produce records that would explain a loss of money or property
• fraud or fraudulent breach of trust
• causing your debts to increase by neglecting your business affairs
• failing to supply goods or services that have been paid for
• carrying on a business when you knew or ought to have known you could not pay your debts

bank_of_slate

Hi CMD,
I have a great simple solo account with Natwest and they were trying to pressure me into upgrading.

Natwest drone: " You'll get a cheque book!"
Me: "Don't want it!"
Natwest drone: "You'll get a new Visa card"
Me: "Don't want it, I can use my solo card in shops and online."
Natwest drone: "You'll get an overdraft facility!"
Me: " I - DON'T - WANT - ONE! (are you sensing an ongoing theme yet)
Natwest Drone: "You also get free insurance, breakdown cover etc..."
Me: This is a fee paying account isn't it? I've had one before.... I don't want it."
Natwest Drone: Yes but what I'm going to do every month is refund the charge back into your account so it costs you nothing. I'll do it personally, look, I'm entering it into my diary so I don't forget!"
Me: " (seriously deafening alarm bells ringing) And what if you leave, what if you drop dead tomorrow? I'm not going to rely on you to do that every month! It's wide open to human error and I'm not going to take that risk with my money, it's taken me years to get straight. Goodbye" (gets up to leave)
Natwest drone: (now clinging to leg and screaming as I walk towards the exit) "No, please, I'll do anything, ANYTHIIIIIIIIIING!"
Me: (shakes her off and runs for it) Nope, not falling into that trap again! Gerroff."

Ok so the last 2 lines were a teeny bit exaggerated
...Linda xx

Toon_Dave

so linda. I gather one thing from your post..

YOU DONT WANT THE UPGRADE!! LMAO

Did you stamp on them for good measure as you left too??

its because the muppets behind counter get 'commision' for there 'sale' from there bosses...whether or not you want or can afford it they get money for recommending..i would suggest they also the cash just for the recommendation even if they know you may fail checks etc..

bloody stupid banks..think we'd all be in better positions if had been refused credit and update years ago....but hey hoo....life goes on.

Dave.

cmd:0

Thanks everyone, Yes they atre stupid!! I wont be using it anyway. I was getting really good at using cash and not just buying stuff because I 'had my card' getting in the practice, oh well, lets see if they are just a desperate to give me an upgrade once ive gone BR!!!

C
z

Toon_Dave

CMD:0....i bet u'll be surprised...still will get some credit card applications im sure....they just dont seem to understand..muppet desk clerks and all.

Dave