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sjbyron
Average Member
United Kingdom
746 Posts |
 Posted - 24 January 2009 : 23:04:16
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HI
I have £1600 debt with coop but they have allowed me to open a cashminder account with them, tey said that they are aware of my failed IVAs and me going bankrupt and the fact that I have debts with them but have opened the account and said it is safe for me to use it, they say I cantt have a savings account or a current account though because of my credit rating.
Would i be safe to use this account, it would help alot. Should I trust what coop say?
Im thinking of withdrawing my wages from onebanking on Thursday and Friday and paying it in other the coop, would this be ok, as im going BR on Monday.
Thanks
Stu
Stu J Byron |
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John
New Member
United Kingdom
73 Posts |
Posted - 25 January 2009 : 00:18:36
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Hi
I would not use it until you have declared.
It would then be illegal for them to take money from the account due to previous debt owed to them.
If they did you could reclaim it through the OR.
Before bankruptcy, strictly speaking, they can take from the account.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 25 January 2009 : 00:41:34
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Thanks John
But could they close the account down, would I be safe just to stay with OneBanking instead?
Thanks
Stu
Stu J Byron |
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John
New Member
United Kingdom
73 Posts |
Posted - 25 January 2009 : 01:39:34
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Hi
yes they could.
I'm afraid I can't comment on OneBanking as I don't know anything about them.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 25 January 2009 : 01:51:14
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Thanks John
thats what I was worried about, think I will stay with one banking for the time being.
Stu J Byron |
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zamfir
Junior Member
303 Posts |
Posted - 25 January 2009 : 23:06:27
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| Or you could open a Barclays Cash Card account after declaring BR - Direct Debit, Standing Orders and a Visa Debit card all included. |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 25 January 2009 : 23:09:07
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I have more debts with Barclaycard about £16k between 6 cards.
I dont trust the coop I think they will try to get the money some how or close the account same with Barclays.
So think i will stay with onebanking
Stu J Byron |
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Bossc@
Starting Member
United Kingdom
25 Posts |
Posted - 26 January 2009 : 12:07:14
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We had our court date last Thursday and tried to open a basic Barclays account on Saturday. We made them aware as to why but were declined. None of our debts were with Barclays and our Barclaycards were paid off years ago.
Just waiting to hear as to what the situation is and if we can have an account. There are no coop banks in our area. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 26 January 2009 : 12:15:55
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Hi Bossc@,
It is in the bankers code that everyone (irrespective of credit status) in entiteld to a basic bank account. Unfortunately, not all banks will offer these and they seem to take it in turns to accept people who have gone BR. I would suggest spending a day in the high street with your ID .... you will get an account with someone!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Bossc@
Starting Member
United Kingdom
25 Posts |
Posted - 26 January 2009 : 12:21:58
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| Thanks Julian |
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givemestrength
Junior Member
United Kingdom
141 Posts |
Posted - 26 January 2009 : 12:24:54
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| hi, even though there are no coop banks in your area you could still possibly set up an account with them, i did over the phone and had everything within the week,if you want to pay money or cheques into your account you can do this via the post office instantly,you can have internet banking, DDs standing orders im glad i was reccomended it, only thing is im not BR yet so i might be eating my words. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 26 January 2009 : 12:26:09
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Hi Givemestrength,
Great point well made. The Co-Op Cashminder does seem to be the most popular choice for those going through BR.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Bossc@
Starting Member
United Kingdom
25 Posts |
Posted - 26 January 2009 : 15:14:52
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Just checked and the nearest branch is 25 miles away. Might have to give them a ring but I'm conerned about withdrawals.
One thing I've not asked is -after you're BR and the OR has either okayed your expenditure for household etc or knocked them down. How do you access the funds for housekeeping? Is it as cash/single sum/withdrawals up to that limit etc once a month or can it be gradual withdrawals within that limit? Does the OR effectively monitor the account etc?
Sorry if that doesn't make sense. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 26 January 2009 : 15:16:20
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Hi Bossc@,
You have full access and control over your bank account and can make deposits and withdrawals as you see fit without reference to the OR.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Bossc@
Starting Member
United Kingdom
25 Posts |
Posted - 26 January 2009 : 15:32:26
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Thanks Julian
May have to go cap in hand around the banks and see what happens. Barclays have got back to us and flat refused a basic account. If we are experiencing difficulties opeing an account what would be the likelyhood of the OR unfreezing our existing account and downgrading it to a basic one. |
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BankruptC
Senior Member
1030 Posts |
Posted - 26 January 2009 : 15:37:14
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Hi bossc@,
Just to add that we've had our co-op accounts since August 2008 and so far have had no needto visit our branch! It really is a fab little account, ideal for those in our situation and I wouldn't be put off by the distance.
Good luck with finding an account to suit you!
C.x |
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Topic |
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cooperative bank
