BR to-day NOW part deux - banks

[mish1953]

Im updating this as things happen .

Part Deux
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Now that I'm Bankrupt.
Banks
1) I set up a COOP current account ( cheque book/debt card optional overdraft ) 2 weeks ago without the optional overdraft facility , have arranged for my wages to go in there, and for my d/d's to be transferred. There is NO money in the account and they have asked for no fees.

The account is a central account ..ie not a branch account, it was all set up on-line.

I phoned them to-day and told them I am now bankrupt - they said no problem.
While on the phone I set up internet banking and discussed opening a savings account once my pay goes in at the end of the month.
As I wont be using credit again ..ever I will need to save some money for future needs / contingency etc so I can set up a standing order to pay an amoutn into the savings account each month , Im going to use my expenditure figures to work out how much to put into the account.

2) Nothern Rock - my mortgage is with them and consists of 2 parts .. secured and unsecured , the unsecured part has now gone - bankrupt - but the secured part is still there.
I phoned the N/R bankruptcy team and had a good chat with them, as long as I keep paying them the secured figure each month they will be happy , they are not 'bothered' as log as I keep the payments up.
BUT - the secured part is for £93 k and the house ( after 1 year ) is worth around £114k , if the OR decides to sell the house to raise money for the other creditors then N/R would want some early repayment fees (its in the contract ) but that would be down to the OR to sort out.
The N/R bankruptcy team were very pleasant , no hassle at all and thanked me for contacting them -- the OR will do it but I thought it was only polite.

Now I have to explain to the utilities / gas/phones/mobile/water etc that I cant pay them this month .. accounts all frozen and no money till payday. yumm
Well ok I do have £100 in my wallet to cover me and sproglette till pay day when I have a functioning account with some money in it.


I know that I will lose my m/bike, and eventually my house, and that I cant get credit (dont want it anyway), and that I have to pay the secured part of my mortgage its like rent ) ...
but right now I have NO debt ! £47.6k gone !

I feel happy, sad, guilty ,relieved .. still a little worried due to my insane worry pixies as I have to sort out income/expenditure with the OR but more than anything I feel knackered and stunned. Im really chuffed that everyone has been so nice and symapthetic - no one has had a pop at me about it .

slainge
Mish

[zoe]

Hi Mish
well done - it really isn't that bad is it!!!
Word of warning - if your phone service is with BT they will not allow you to have a monthly payment plan, I changed ours to my hubbys name
Hope this helps
z
x

Zoe
x
Keep your chin up - everything happens for a reason!
View my blog http://zoes.blogs.iva.co.uk/

[mish1953]

Thanks Zoe , I havent phoned them yet.
My phone bills are horrific BT £92 per month
£26 my mobile , £26 for my daughters mobile .
BT do my broadband and its an 18mth contract + free calls after 6pm - that lot comes to 36 a month includes a pin number to stop my kid calling her mates mobiles. She still racks up stoopid bills !
If BT decide to make stop the monthly payments I'll claim that the contract is broken and switch to SKY £15 for 2 channels + basic broadband + free calls after 6pm - I'll still have to pay the basic £11 charge for the line .
As for SKY I need to get them to change the D/d anyway to the new bank, and if they dont ask them Im not telling ! If they do ask then thats different.

thanks
Mish

[ray_a]

Hi Mish

Why not shop around on your mobile phone and I personally find pay as you go the best option for me.

Try to sort out your utility bills and keep those going and why not set up a standing order for them and pay them monthly.

Good Luck

Ray