Sponsored by your friends at Myvesta UK, The UK Financial Crisis Centre. http://myvesta.org.uk/forum Copyright 2008, Myvesta Ltd. [quote="Piston broke":2uy6c0pu]Well Just phoned the Coop, Its not the banks policy to not let you open a savings account for the reasons you have given, Its all to do with your credit rating and what is on your credit reference reports. Hope this helps.[/quote:2uy6c0pu] Thanks for doing that but unfortunately it doesn't help. I know that my credit reference reports have all been updated to read satisfied. BEcause I've spent the last few months sorting them out. Although I still hvae a problem with Equifax, but Co-Op don't use Equifax. And I was told by a member of staff at Co-Op that I was not allowed to earn interest for 6 years after being told by this person I was. So it seems they're saying different things which isn't a surprise really. And it's obviously becoming my word against theirs. The thing is though a person cannot go into arrears with a savings account. But I don't know what the law is and will contact FSA next week, because I want to know if it's the law that's preventing me having a savers or if it's the banks own policy. And I'm angry at the fact I was told I could have a savers and now I'm being told I can't because I'm a discharged bankrupt which they knew when I applied. http://myvesta.org.uk/forum/viewtopic.php?f=2&t=2324#p7897 Fri, 05 Sep 2008 16:29:49 EDT 7897 at http://myvesta.org.uk/forum Worth phoning the Co-op and asking them to see sense I think? I think they'll realise that's a bit drastic. http://myvesta.org.uk/forum/viewtopic.php?f=25&t=2088#p7896 Fri, 05 Sep 2008 16:18:45 EDT 7896 at http://myvesta.org.uk/forum Well Just phoned the Coop, Its not the banks policy to not let you open a savings account for the reasons you have given, Its all to do with your credit rating and what is on your credit reference reports. Hope this helps. http://myvesta.org.uk/forum/viewtopic.php?f=2&t=2324#p7895 Fri, 05 Sep 2008 15:30:50 EDT 7895 at http://myvesta.org.uk/forum Must admit I tried to open a savings account with the Co-op and they turned me down, not bothered at the time. http://myvesta.org.uk/forum/viewtopic.php?f=2&t=2324#p7894 Fri, 05 Sep 2008 15:11:14 EDT 7894 at http://myvesta.org.uk/forum Paul. Suicide is not an option, so dont even go down that road. Go and see your parents and come clean with them. Tell them about your addiction/dependancy, you may be pleasantly surprised and they may be understanding. Better for you to tell them that to find out from elsewhere. Also, it may be worth going to see your Doc and ask him to write a letter for the OR explaining about your problem and then go and see the OR and explain about why you did what you did and you have a letter from your GP confirming what you have told them regarding your drug use. Let us know what happens and how you are getting on will you. Geoff http://myvesta.org.uk/forum/viewtopic.php?f=25&t=2321#p7893 Fri, 05 Sep 2008 15:07:23 EDT 7893 at http://myvesta.org.uk/forum Hi Paul As hg says we are not here to be judgemental. I would agree with the other two posters on the course of action to take. We have all made mistakes in our lives and hopefully learned from then, I know I have. When I was younger, back in my early 20's I used to take drugs, Speed, Coke, Cannabis and tried Acid once. I only used to take them recreationaly and luckily enough I never relied on them, only ever used then at motorbike parties and the like, sometimes on a friday or saturday night if out with mates. It was all part of the motorbike club culture I suppose. When I got married I just gave them up, full stop and have not touched them for nearly 25 years. Anyway that was just to let you know that you are not the only one who has used drugs and I know where you are coming from. Look at things this way, bankruptcy is the begining of your new life. I hope all works out alright for you. Geoff http://myvesta.org.uk/forum/viewtopic.php?f=25&t=2321#p7892 Fri, 05 Sep 2008 14:59:26 EDT 7892 at http://myvesta.org.uk/forum Thats a bit of a bugger regarding the Co-op. We are all doing fine now, we have come to terms with being discharged now and the problems that may be involved. So far we have not had any, which is cool. Im lucky that I have plenty of overtime at the moment, have been working the best part of 70 hrs a week for the last couple of weeks. Working time directive, what WTD Mind you I need it with the trips the schools have planned for the end of this year and the begining of next year. Not seen much of the family for the last couple of weeks because of all the overtime I have been doing. Im actually in early tonight as I have not been in from work for the last 4 days until after midnight Still have to look after the pennies, but we are getting the hang of it now As Staus Quo once sang, The futures so bright I gotta wear shades. Good luck all. Geoff http://myvesta.org.uk/forum/viewtopic.php?f=25&t=2088#p7891 Fri, 05 Sep 2008 14:46:34 EDT 7891 at http://myvesta.org.uk/forum I totally agree with you, i had a suprise today from my bank i have a CO-OP cashminder account it appears that my account went overdrawn by £3.00 and they have informed me that they are now giving me 30days notice that the account will be closed, i have opened anther account with onebanking website it www.onebanking.co.uk and the account is run like this: Call 0845 677 8887 and so long as your on the electorial roll they will open the account for you there and then. You cannot bounce direct debits as when your salary is paid in they keep £xxx@ on the account for them the rest of your salary is then put onto their onnbanking pre-pay mastercard. You use this card to withdraw cash at machines but you don't always have to pay the £1.50 for withdrawing cash.The account has a monthly fee of £12.50 but i'm fine with this as i should be released from BR in a couple of month so hopefully there should been more banks open to me, so all you bankrupts with a CO-OP account make sure you don't go overdrawn even by a couple of pounds. Today i feel a little low it seems one thing after another happens i have no money and hardly any work i have some booked in for late September but i won't get paid for that till mid October so it looks like things will be very tight till then, then ii think release from BR soon i must keep going dont let things get you down (look on the bright side of life) as the song goes or as rodder's says "this time next year". Anyway had my moan for the day hiw's everyone else in BR WORLD???? http://myvesta.org.uk/forum/viewtopic.php?f=25&t=2088#p7890 Fri, 05 Sep 2008 10:02:45 EDT 7890 at http://myvesta.org.uk/forum [quote="paul":3hqgr3go]this is a long story but i went bankrupt early 2008 after my marraige broke down and was discharged mid 2008 i was relatively successful self employed but also wreckless sometimes with my personal life. i was self employed and also working for a household name blue chip company. my relationship with my mother and father broke down upon my marraige break up due to my extra marital affair they were very fond of my ex wife subsequently after my marraige separation the mortgage didnt get paid and subsequently the house was repo'd by halifax. as i couldnt run my business i sold the assets before i went bankrupt to live off the money, i went on holiday and more seriously started again using recreational drugs on a large scale due to my depression. i have previously used them before but with help of rehab and friends kicked them. this previous dependancy is on my doctors record and rehab record, but not my current problem. i am ashamed of my drug problem and didnt declare it to the OR. when OR later asked where the money had gone i just said i repayed my father money (which i never borrowed in the first place) now my dad has apparently recieved a demand for £7000 which he never ever lent me, he has never loaned me money - ever i am terrified as i have spent the money i had on my dependancy and to look respectable i just said i paid a loan of to my dad. a loan wich never was. i feel like suicide as i cant face my family ever again and am afraid of prison for lying about my situation and spending all of the money on my dependancy and wreckless holiday. i do not have a criminal record and have never been in trouble and worked all my life up until my marraige/life falling apart. i have had a drug problem on and off for years ************************************** just to add to the above i was sacked by the blue chip company before my bankruptcy due to my problems affecting my performance at work i sold my self employed assets to a small local unconnected company - will they be persued re recovery of the property. i sold my car to a joe bloggs i never met before from auto trader - will he be persued regarding recovery of the car. these are innocent partys, i had no idea my actions might impact other innocent people please dont judge me, i know what i am allready[/quote:3hqgr3go] Hi Paul I would take hg advices and ask them to talk to your doctor and tell the truth to the OR, also i would get legal advice from the Law Society you will feel much better after this. I would try to speak to your parents and ask for help because your parents brought you into this world and they only want the best for there son yes there are angry but things will change. It only you that can change your life around and if you have come to this website and asked for help you are on the right track to come out of this awful mess. Thanks Jacob2008 http://myvesta.org.uk/forum/viewtopic.php?f=25&t=2321#p7889 Fri, 05 Sep 2008 03:34:07 EDT 7889 at http://myvesta.org.uk/forum Hi, I was declared bankrupt in March 2007. In October 2007 I was discharged from my bankruptcy with no restrictions. I have NOT been given a BRO or BRU. I have a Cashminder account with Co-Operative Bank. I tried to open savings accounts and they won't let me. They say I can't have any savings accounts or earn interest on any money until March 2013. I want to know if that's accurate or not? Has anybody else had problems opening savings accounts. Kind regards, Jean http://myvesta.org.uk/forum/viewtopic.php?f=2&t=2324#p7888 Thu, 04 Sep 2008 21:42:38 EDT 7888 at http://myvesta.org.uk/forum Hello Lots of good advice given and questions already answered. 1. The way the property works isn't so straightforward as there are two sets of different things going on at the same time. In terms purely of the Official Receiver and the bankruptcy, the Official Receiver can't put you out the home that is your main residence until a year after the bankruptcy. Therefore if the mortgage is up to date and you can keep paying it, you can stay in the house a year (but paying the mortgage doesn't give you a right to any of the quity; just to stay there.) If the mortgage and secured loans are excessively higher than what a rent would be, then in theory the Official can tell you to rent, so that you can afford to pay into the bankruptcy from your income. It's unlikey to happen, as they will know that you are unlikely to find a landlord willing to touch you or be able to get a deposit together. After a year what happens depends on whether they would get any money from the property if they forced it's sale. If they wouldn't, the will do nothing for just under another two years. If they would, they will apply for possession of it. If this is likely to be the case, and your partner isn't also going bankrupt, you need to sell the property during the first year so that your partner doesn't lose their share of the equity as a result of it being sold cheaply at auction. If there isn't equity after 1 year, they will check again just before three years are up. If there isn't any equity then either, they have run out of time after three years and the house becomes yours again, subject obviously to the mortgages. All the above assumes that the mortgages are still being paid. All the secured lenders rights under their loans aren't affected by the bankruptcy if you aren't paying them. In this case they can apply for possession as normal once you get into arrears, including within the first year. Final word on houses; if you're not going to be able to keep the house, you need to think about what your going to do no based on your aspirations for the future. If you want to rent privately you need to arrange this before you go bankrupt, you will find it much more difficult to get a landlord to take you afterwards. In this case stopping paying the mortgage is a good way of saving a deposit and you would want to give the keys back once you had moved into the new place. However if you want to rent form a public sector / social landlord, you need to go and speak to CAB now. They will tell you what your local council's idea of making yourself voluntarily homeless is. Many expect you to cling on until the very end until the mortgage company has a warrant to evict you. 2. Can either of you get to work without a car? 3 Do you know someone (like a relative) that would buy the bikes from the OR for you? 6 Payments would be calculated monthly as Piston described, but you could arrange to pay them weekly or 4 weekly etc if that suited better. 8 Only if the house was repossessed. If you were in possession of the property and wanted to retain possession of it you'd have to carry on paying them. http://myvesta.org.uk/forum/viewtopic.php?f=2&t=2323#p7887 Thu, 04 Sep 2008 17:39:41 EDT 7887 at http://myvesta.org.uk/forum And the extra thing to remember about this new and slightly harder life is that all it is is reality! It's not a bad thing, it's either the way people that have never been bankrupt live or the way they probably ought to be living. http://myvesta.org.uk/forum/viewtopic.php?f=25&t=2088#p7886 Thu, 04 Sep 2008 17:22:31 EDT 7886 at http://myvesta.org.uk/forum The odd meal now and again is good for you but i wonder how many of the people in the restuarant paid by credit card???? no more credit that's the game, as for the caravan what a good idea i have told my family that we will have to have the odd weekend at my mothers in Devon and the mother-in-law paid for a long weekend in York the other week. As a celebration for my BR ending i told the family that we will have a holiday in Spain next year this time not paid for on the credit card so when we come home there wil be no statement from the card company telling me how much they have loaned me, so that sounds good in my mind. Xmas this year will be hard but we have explained to the children that it has to be this way and they understand, we seem to forget that they listen to things said in the house, my 17 year old daughter seems to think that we still have loads of money and the odd comment of "oh your not going on about your BR again are you "teenagers ahhhhh" at the moment it is all about her, were we really like that we were their age, if my mum had the money to give me then she would but if she didn't then we just did other things, thinking about it, it reminds me if what i said earlier "todays society" must have it now or i will be a pain everyone else is getting one, i need it now" doe's that sound familiar????? or it's only a £30. I will update soon as things happen with the OR remember everyone keep smiling "THINGS CAN ONLY GET BETTER" http://myvesta.org.uk/forum/viewtopic.php?f=25&t=2088#p7885 Thu, 04 Sep 2008 04:24:59 EDT 7885 at http://myvesta.org.uk/forum Hi there. I will try and answer your questions as accurately as I can. but first a couple of questions for you 1. How much do you owe and is any of it in joint names. 2. Are you both going to declare yourselves BR. 3. Do you have any children living with you. How much are your vehicles worth, cars and bikes(individually please) Ok here we go. 1. I dont think secured loans can be included in BR, hg will explain this better than me. 2. If you are both going to declare BR then each case is heard on its own merits regarding the cars. You need to give very good reasons as to why you need a car. If only one of you is going BR then the other is not affected. 3. It is almost certain that you will lose your bikes Im afraid as the OR will see them as luxury items that you do not need.(I lost my bike to them last year , so you will not be alone) 4. Depending on the value of te TV's its unlikely unless they are very expensive and would fetch a good price at auction. I would imagine that all of the other items you mention would be safe. 5. You will have to fill out some forms itemising everything that you spend each month, all household bills, utilities, insurances etc. If you have over £100 disposable income then the OR may well take 50% of that for upto 3 years. 6. If your husband is paid roughly the same each month, multiply it by 52 then divide by twelve to give an approx monthly figure. 7. This is not a problem. It may be an idea though to keep the same company for the next couple of years as some lenders may not grant you the credit facility in the near future. 8. I think so, but hg will be able to explain regarding the house situation. Hope this helps a bit. One word of warning. Do not transfer your vehicles into someone elses name as this will cause you some real big headaches, which you really do not want. Also it would be illegal to do this prior to bankruptcy. Not saying you intend to do this but it does go through ones mind Geoff http://myvesta.org.uk/forum/viewtopic.php?f=2&t=2323#p7884 Wed, 03 Sep 2008 19:31:34 EDT 7884 at http://myvesta.org.uk/forum Glad to hear everything is working out for you and the wife. We have been dischrged since 1st April this year and what a difference it has made to our lives. I still work loads of hours, but I know that what I take home is ours/mine. No one is constantly calling and asking for money that we dont have. In fact the phone is blissfully quiet We can now send the kids on the school trips and our eldest daughter is just starting college and will be going away several times in the future. We still have to watch the money, but we can now have the odd takeaway or even go out for a meal. We even managed a holiday for the first time in god knows how long. We bought an old caravan and renovated it so now we can go away for the weekend when Im not working, it doesnt have to be far away, but its just the fact that we can now do this that makes the difference. My sanity has returned at last (no smutty comments please ) Good luck for the future. http://myvesta.org.uk/forum/viewtopic.php?f=25&t=2088#p7883 Wed, 03 Sep 2008 19:07:41 EDT 7883 at http://myvesta.org.uk/forum