what will happen to m y new bank account

[anfieldbabe]

what will happen to my new bank account that i have just opened if my only option is to go br i was with natwest who i have a personal loan with and cant afford to keep up with the repayments and was advised by an advisor to open another bank account which i did but after reading some blogs you have to shut all your bank accounts

[chris.g]

When we went br, we were under the impression that all accounts would be frozen. I've since found out that the banks are notified and it is upto their discrection as to whether they freeze and/or close the account. Our cashminder account wasn't affected at all, we used it the day after we filed and have never had a problem, not even a letter mentioning the bankruptcy.
I suppose if the account has d/card and overdraft the bank may well have reason to close it but basic accounts should be ok.

[anfieldbabe]

i think i have debit card but there def isnt a overdraft on the account

[chris.g]

who's the acc with and what's it called? As far as I'm aware your not allowed a current account, think it's the banks that won't allow you, only basic accounts so it might be worth setting it up now then you can get everything transfered over before you file.

[anfieldbabe]

its with tsb not sure if its select or current

[chris.g]

Select is a current acc with an optional overdraft, its the one we had. Don't think Lloyds allow undischarged bankrupts, I know there's co-op, yorkshire and possibly nat-west & nationwide that allow us. someone else may be able to chip in and give you more info....

[anfieldbabe]

cant go natwest cos thats where our personal loan is that we are struggling to repay

[Reviva UK]

Hi Anfielfbabe

you are propable better off opening a COOP CASHMINDER ACCOUNT. you have direct debit .standing order access PLUS you get a visa electron card - and you can have this while in Br.

better to apply for this the day before you go Br. Also better to go Br at the beginning of the month so that the new account is open intime for your payroll dept to pay into new acct

[chris.g]

Can confirm this is a good account,

[emma_t]

wouldn't hesitate to reccommend the co op for banking.
They are so good to deal with and if you don't have a local branch you can use the post office.
Good luck
anfieldbabe

[anfieldbabe]

who do i contact to open this account has there is no coop near me

[chris.g]

you can apply over the phone, 0800 434 300 and ask for the cashminder account

[anfieldbabe]

cheers chris you have been a big help to me on this forum

[chris.g]

my pleasure, x