What do I do?

kgreen84

have done that and i have a £300 a month deficit with 34k negative equity. Am going to ring the ndl tomorrow again just for another chat about where we go from here.

Thanks everyone for all your help so far

kgreen84

hey all,

just a quick update, spoke to nbl who went though everything and bankrupcy with a Northern Rock repossesion is best for us. Now we start the scary part of stopping payments!!

The even scarier thing is the OR freezing our bank accounts, worry is that payments go in DD's don't and they take whats in there but it becomes very difficult for me to do shopping etc.

Is it seen as fraud if i use a bank account no longer used by my mother for my payments (has no OD etc) until we are br and then open an account in our name? Saves alot of hassle and obviously I'd have statements etc.

RAS

Kgreen, a number of other posters here have used family accounts or even GF/BF to cover the month or so when they going Bk.

You could open a cashminder account at the Co-op and tell them you are going BK. They seem to have been very good at letting them stay open after bankruptcy. Assuming that your income barely covers your expenditure, the OR is not going to be bothered by an account with a few quid sitting in it.

dalip

Kgreen i had a joint acc with OH and took my name off 2 days before bc. Had my wages(still do in fact)paid into it and we have had not problem whatsoever. In fact i am not bothering to open an account in my name. Do all the online banking anyway and too muct trouble changing dd ect over to another acc.D

jo70

take good care kg we are all struggling to a degree

kgreen84

It depends on when we go bankrupt, if its just after payday there will be £700 in there but if its the middle of the month you are talking a couple of hundred to cover food etc until the end of the month.

Maybe I should speak to the Co-op, has anybody had any dealings with the Halifax and their basic account?

RAS

have a read here http://forums.moneysavingexpert.com/showthread.html?t=474254

peachyprice

kgreen84 wrote: »

It depends on when we go bankrupt, if its just after payday there will be £700 in there but if its the middle of the month you are talking a couple of hundred to cover food etc until the end of the month.

Maybe I should speak to the Co-op, has anybody had any dealings with the Halifax and their basic account?

The OR won't take your wages, they ask which bank account your wages go into and your bills are paid from then tell the bank they have no interest in it. If necessary they'll contact the bank by phone or fax and tell them to release your money.

If you open a Co-op cashminder account now and transfer all your DD's & salary over to it you should be able to carry on after BR as normal.

radarjay

You should be able to arrange a Court date to suit you. I spent a bit of time working out when my tax credits, maintenance and Child Benefit would be due to arrive along with dates of DD/SO's and then rang the Court for a date. I got a date that was perfect for me but they told me at the time I could pretty much choose any date that I wanted.

A few days before the Court date I started withdrawing my money in cash until there was none left in the bank. Paid the BR fees in cash made sure any utilities etc were either already paid by DD/SO or paid them at post office/bank in cash. A few days later my Co-op bank card etc arrived and everything was pretty much back to normal.

I made sure I wrote everything I spent down though and checked off my bills as they were paid etc as I didn't want any nasty mistakes.

kgreen84

think i will speak to co-op tomorrow, will i not get into trouble for clearing my accounts? When we go br we will have about 2k saved from non payment to cover depost, rent and br fees, do I just draw this out before we go to court and just make sure I go bankrupt in the middle of the month when most things have gone out but I still have a couple of weeks to 'unfreeze' the account if necessary.

I am so thankful for this site, I would have just gone and got the br without even thinking about anything else and now I have all sorts of questions popping into my head!!