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 bankruptcy postbag for august
 Think banking and creditor

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T O P I C    R E V I E W
Needafriend Posted - 01 August 2008 : 10:48:43
Hi we are about to go BK on Monday and one of our creditors is based at almost the same address as think banking the only diference is tha name of the house they are at one is London Scottish House and the other is Pennington House. How will we get on if we open an account with Think Banking then the other building holds a debt of ours can they take the money from our account to pay this debt back.
Im really worried as its really weird that they are the same place and now it looks like they may be of the same company and i dont want to open an account only to get money taken to service a debt we had with a DCA that is in a buiding next door.
Please help

"Lifes too short, Grab it while you can, Make each day count and live life to the full. Dont Worry- Be Happy!"

15   L A T E S T    R E P L I E S    (Newest First)
sjbyron Posted - 03 August 2008 : 23:59:35
Hi Jo

I havent gone Bankrupt, im still in an IVA, its gone to Variation and if it fails I may go Bankrupt or a 20 year DMP.

Anyway I would tell the creditors that you are considering bankruptcy that way they would know what is happening with your account and can place a note on it, so the process of getting the bankruptcy info from the OR Could be speeded up.

Creditors as usual will try and force you to pay them extra, however the people who call you are on the majority of the time are sales men/woman on comission.

You dont always know the ORs details until they have called you, it depends on the court and whether they do a face to face interview that day or not,

Make sure if you do tell creditors after your bankrutpcy that you give them the reference numbers too, and inform the OR that they have been contacting you.

Hope that helps

Stu J Byron
Needafriend Posted - 03 August 2008 : 21:16:08
Thanks Stu

I need it. I have stopped all payments into my old current ac now so tom after the hearing i will shop around in town to see if we can get anything else whilst there if not when we get home im straight on the blower to Think Banking.
One more thing did you once you got your bankruptcy info contcat your creditors that had bugged you and told them the number and ORs details when you got home. The reason i ask is hubby and i have had so many calls lately we just wanted to tell them first.

"Lifes too short, Grab it while you can, Make each day count and live life to the full. Dont Worry- Be Happy!"

sjbyron Posted - 03 August 2008 : 14:25:22
Good Luck Jo

Stu J Byron
Needafriend Posted - 02 August 2008 : 10:50:41
Hi Stu
I will give Coop a call after the hearing but I doubt we will get it, but to be on the safe side i will also open a Think Bank acc as i need the monies paid somewhere.
If we do get accepted for Coop then all well and good and its a bit cheaper but they are being a bit more choosy and i cant be hassled with writing more letters and making more phone calls after the last few months of dealing with creditors :)
I will however try both and if i dont get Coop at least i should have Think Banking
Anyhow for me its 2 days to go till my hearing and wow im getting nervous.
Take care

"Lifes too short, Grab it while you can, Make each day count and live life to the full. Dont Worry- Be Happy!"

sjbyron Posted - 01 August 2008 : 20:28:55
Hi Jilly

People do get turned down by co-op have a look at:




I personally dont like them, they were really nasty when I went into an IVA really threatening.

Just my opinion!

Stu J Byron
jilly51 Posted - 01 August 2008 : 20:22:32
Hi jo,
The coop is the best one to open and their very BR friendly,u can bank on line set up D/D and u get visa electron card as well,iv not known any one as yet to get turned down by the coop for this account,unless any one else knows different but u cant do it on line,i done all mine over the phone and they were very good and friendly and it took about 2 wks for the card to come,iv got a Tuxedo card but it charges u every time u take cash out so i dont use it any more so give the coop a ring or go in their after uv been made BR on mon and ask them to open one up for u,so good luck for mon its really not that bad and come out and start a debt free life

sjbyron Posted - 01 August 2008 : 15:24:19
Hi Jo
I would go with Thinkbanking, they give you an account number and sort code on the phone and a Maestro card

Stu J Byron
Needafriend Posted - 01 August 2008 : 13:12:31
Hi Stu
Thanks that info has been very helpfull. I know they charge but so do Tuxedo and i need an account for our monies and also like you said its quite safe.
I cant be bothered with maybe being accepted by coop then wait to get turned down, like i said my credit history is so poor before we go BK that this for us is our only option.
I may try also coop and see but i wont hold my breath.
Thanks again

"Lifes too short, Grab it while you can, Make each day count and live life to the full. Dont Worry- Be Happy!"

sjbyron Posted - 01 August 2008 : 11:42:42
I think (but not 100% sure) the right of offset still applies in Bankruptcy as it does in IVAs
It doesnt matter if you have creditors linked within the RBS Group (which Next and AA and O2 are) They cant take your money off you as Thinkbanking is safe.

The £12.50 is worth it if you think of:

1. Safe in the though that your money is safe from Creditors and future creditor link e.g Abbey being linked with Alliance and Leicester
2. Personal Managed Service ensuring all bills are paid
3. No bank charges except for special services such as CHAPS and replacement cards
4. Ability to know that what you have on your card is yours to spend
5. Ability to text your bank for details
6. Maestro Card

The waiting times are getting better and they are trained better with more staff, they are starting to iron out the majority of their problems.

Hope that helps

Stu J Byron
rollercoaster Posted - 01 August 2008 : 11:24:59
I thought that if you were declared bankrupt, they couldnt go after your money anyway, they could just decline your application?? am i wrong?
369 Posted - 01 August 2008 : 11:22:55
Not a 100% sure, but i think with Think Banking because you pay a monthly fee to them - they will let anyone open the account - no matter whether you owe companies vaguely linked to them or not.

Although I am no expert - but that is the general impression I have got from previous posts....


Needafriend Posted - 01 August 2008 : 11:20:52
Hey No thats fine,
I have just spoken to Think banking and they also confirmed that they are not part of Robinson way, which is part of London Scottish Bank.
I did not ask about Next and the like.
I dont think we will have any problems my main creditors are:
Alliance and Leicester
C&G Mortgage
Capital One
Robinson way
AA Loans
I think thats it i hope they are not linked.
Can anyone else from the experts advise if i should be ok opening a Think account with the above creditors going after my blood :(
As i dont want to bank somewhere where they may be able to get hold of my money once they know we are bankrupt.

"Lifes too short, Grab it while you can, Make each day count and live life to the full. Dont Worry- Be Happy!"

rollercoaster Posted - 01 August 2008 : 11:12:48
Thanks for that, (sorry to hijack your post Jo)
sjbyron Posted - 01 August 2008 : 11:08:48

Think Banking is with the RBS group but only that they have a holding account with them for your money, it doesnt matter if you have debts within the RBS Group and open a Thinkbanking account.

I had debts with RBS Overdraft, RBS Credit Card, Next Directory and Studio Catalogues which were all part of the RBS Group before I went into an IVA and they havent touched my money, give them a ring: 08456343499 and ask but im sure its safe.

And Thinkbanking is linked with Think money and within their group they have:
Friendly Secured Loans
Freeman Jones
Gregory Pennington
Wilson Trust Deeds

I dont think you wil have a problem but again give them a ring, and say you have a creditor who belongs to Pennington House and see if it is a link there.

Hope that helps

Stu J Byron
rollercoaster Posted - 01 August 2008 : 10:54:18
Jo. I believe i saw on another thread that 'think banking' is part of the royal bank of scotland group, not great for us as we had a credit card with them and a mint credit card with them who are all the same group!

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