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T O P I C R E V I E W
fredjn
Posted - 26 August 2009 : 09:44:01 Hi we are planning to go bankrupt and repossessed. We are going to stop paying the mortgage to save for rental/BR. The biggest step is actually cancelling the DD to get the ball rolling - we are truely scared
My question is this the mortgage is with C&G, we bank with the Halifax so will the Halifax take all our money when we stop paying the motgage? Also we applied a few days ago for a coop bank current account, should we of applied for a cashminder one instead?
Thank you in advance
2 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 26 August 2009 : 10:28:57 The Halifax shouldn't take money for the C&G mortgage however they can take money for any debts you have with them even if you stop the DDs.
The Cashminder account is the one you should have opened with the Co-op but don't worry about it. Give them a call and tell them the situation (i.e. you are declaring BR) and ask them to switch the current account to a Cashminder account.
Housing
Posted - 26 August 2009 : 10:11:01 Hello fredjn
If you have not yet done the Statment of Affiars (SOA), then do not put your new co-op account details on it as it will probably be frozen. And, yes the best account with the co-op is the Cashminder account, you may just check that that is what you requested of them.
