bankruptcy or iva

fiveyearplan

Hi again Tracy. Are you able to drive a bus with a broken toe? It has taken us since December 24 to get my name off of our joint Barclays account and I'm not yet 100% satisfied that my name is off yet. I'll ring them again on Tuesday to make sure. I opened a Coop account in preparation for my BR. There is not a branch anywhere near where I live either but I haven't had any problems with it. I have my wages paid into it and if I need to put cash in or cheques I pay them in at the post office. I chose that one over Barclays for 2 reasons - the first is they are one of my biggest creditors and the second because it comes with a debit card as opposed to the cash card Barclays gives. So I can use it for my shopping etc.

I hope you are feeling better soon.

Toon_Dave

hi FYP.

I never realised the Co-op was with a debit card. i have barclays as have a ccj over defaulted co-op credit card few years back.

However i understand that sometimes even if you have debts with particular bank they dont often refuse the basic account type.

I may try them after my BR incase they close it once i have declared BR. They can only say no...i can always fall back on my Barclays account.

tigerfeet2006

((((((((hugs))))))) Tracy, hope you are feeling better soon.

Give CCCS a ring as soon as you can and have a chat about your changed circumstances.

So_Sad_Angel

Hi Tracy,

Call CCCS & chat through with them. I did that last week & talking really helped... in fact after today I am going to call again.

As regards your day today...I`m having a bad one too so I fully understand how you must be feeling & sometimes on days like this you`ve just got to just get throu it...& you will. Hope you feel better soon.xx

Please take care & let us know how you go on.

Thank goodness this forum exists...everyones great.

Angelxx Hugs

tracytaxi

hi guys cant sleep , thanks for all your support, the barclays account is a account with a debit card and cheque book but not a cheque guarantee card or overdraft. When you pay in at post office does the cash and cheques clear with the coop in the same time it takes at the bank?

I have more or less got the fee money for bankruptcy, but need to save up to get the money to settle my bt budget account as there might be a problem with the d/d for a while.

On the subject of bank accounts, is itthe bank or the OR which would freeze or close them, I am a little confused.As to regards Barclays and Coop I presume I would need to tell themthat I was going bankrupt, and can I still keep them, I see on here some people say open the coop one after you have been bankrupt, so what is best please.

On my creditors do I take all the recent bills and statements to the OR as a lot of them don't send me anything, LLoyds is my biggest creditor and my old bank ,will the OR want all the old statements or is it hat not the case now they are a debt, as I don't know where all that is.

Still a bit worried about getting giro, mostly I think because I am weekly paid, and with the time my post man comes I will be at work, and by the time i get home and pick kids up the post office will be shut, which means waiting to my day off,( thursday or friday) to cash a giro that is due monday and wednesday.

Waht do you do about other direct debits like for instance my car insurance, they only accept direct debit installments or payment in full? The car insurance and Bt are the main ones I would worry about, my tv rental is by card, now I thought of another problem will I still be allowed to rent the TV and washing machine it costs me £41 oer month for the 2, as my washing machine broke and I had to get one quick, I was already renting the tv, so got the washing machine there.

Oh annd five year plan not much choice but drive with broken toe but its my left foot and buses happily are auto matic so the foot does nothing.Don't even know what I did to it, I am trying to calm down about money and ex husbands to be calm for work tomorrow, trying................................
thanks all x

dalip

Hi Tracy
I'm up tooo. So much for a bank holiday lie in!.
It is the bank who freezes the account not the OR. Once he has told them(he notifies all live banks accounts about your bc) he has no interest in the account it is then up to the bank if they allow you to continue using it.
Statements you just take/send whatever you have,the OR usually asks for the last 12 mths but does sometimes ask for the last 2yrs. Whatever he needs and you have not got he can get himself.
Wahing machine and tv rental i think is ok. I know i have seen others being allowed their tv rental but not 100% certain about washing machine. Maybe later when the experts get up they can clarify this for you.
As regards your dd ect if it was me i would apply for a co-op account, as others on here have rung their banks to tell of impending bc, told their basic account will stay open only for it to get frozen. You can then set up all dd from that account pay your giro into that account via the post office and they are bc friendly.
Hope i've given you all the correct advice:rolleyes: .Hope that toe soon gets better. OH broke his once and it can be very sore.Dalip

Toon_Dave

Good Morning Dalip and Tracy,

Hope you both are well on this Bank Holiday.

Tracy - regarding the bank account, as dalip says the OR contacts all active Bank accounts - so barclays would be contacted and freeze as they have to do that by law, even if its a basic account. However, i think that if its your only source of money then either the OR contacts them to ask for the unfreeze or they will downgrade and unfreeze automatically. Im with Barclays and have read alot this week regarding people with both them and the co-op to say that account was frozen but that the banks then automatically downgraded account and unfroze sending letter to the customer explaining this. Both of these banks tend to be BR friendly as long as there is no risk to them which there wont be as no credit will be offered.

Washin machine rental - How much do you pay monthly/weekly for this? If its an HP arrangement then technically its a debt, as once you purchase on HP you are liable for full amount of the costs..If this is the case then the OR would consider them as a creditor and wipe teh debt off through BR, and i think you should be able to keep the machine, others have had exact same situation with leather settees and could keep them!.. If the machine is just a weekly shop arrangement, so either bright house or someone like that then that should be fine as you only rent for the time you have unit. Also the washing machine i would see as an essential expense..Work out how many times you use it etc per week as apposed to going to the laundrette..this should help with the OR.

hope this is of some help Tracy.

Dave

tracytaxi

HI happy bank holiday Dave and everyone.
Both washing machine and tv rented from box clever. £41 per month for the 2. Washing machine gets used at least twice a day, and we don't have a laundrette in town , primitive here in sunny saltash Cornwall ,lol, thanks again

betterlatethannever

Hi Tracy.

the only info i can find on the subject of rentals is HERE
about 6 lines down it states that only one item is allowed per household, although it does only mention t/vs, dvds/videos.

Everyone needs a washing machine, so i can't see the OR saying too much.

tigerfeet2006

Tracy the Co-op seem to be extremely BR friendly. From anecdotal evidence on here by people who have opened their cashminder accounts before going BR, they have usually not frozen them.

When you open it tell them you are going BR and when you have a date let them know. Then when you get back from court tell them. They seem to appreciate being kept in the loop. When you talk to the OR on the phone briefly after your petition is stamped then tell him this is the account you opened in preparation for BR. He will usually say he has no interest in this account and will say so to the Co-op.