Made my decision !! IVA/BR

[Sadsack]

Good luck Andy - seems we are both going down this route at the same time!

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[andymac]

Thanks.
I have applied for a BOS/halifax account, but they have had it for a week now, and still havnt even looked at it.

So yesterday, I applied for the Natwesto ne, which seemed to move alot faster, but I am concerned that having RBS as a creditor, it might get closed once BR starts !

[Sadsack]

Not too sure about the bank accounts yet. Others have posted on this forum that Co-op and Nationwide were happy to accept IVA and BR's, but of late it seems they are no longer doing so.

Andy Davie regularly suggests Think Banking, and they have a monthly charge.

Guess I will know which way to go on the 1 October.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[aguise]

Hi Sue the thing with thinkbanking though there is a charge you do get the comfort of knowing your bills are paid and the money set aside. I know at any given time exactly what I have to spend as its in the seperate account I am looking at the charge as covering the cost of a pre paid debit card, protecting me from any bank charges (you cannot get them with this ac) and peace of mind that they know |I am in an iva and no worries of them changing criteria and closing the ac.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[Sadsack]

Hi Ang

When would be the best time to apply for a new bank account - before or after the BR hearing? I do think that ThinkBanking would be my best option, as you say, comfort of knowing your bills are paid through one account and surplus is transferred to a second account.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[Adam Davies]

Sue
I would get it set up now but do not use it until after the bankruptcy hearing.Inform the OR about it but state that it has a nil balance.
Be sure to list the £12.50 p on your expenditure sheet.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Sadsack]

Hi Andy

Thanks for the info - all set up and ready to go!!!

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[aguise]

Sorry sue went off for a bit. Glad your sorted. I hope you are as happy with the account as I am.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[BrassicLintus]

Hi Andy, making the decision to go BR is never easy, but I hope it all goes well for you, I'm sure you'll feel a huge sense of relief knowing it'll all be sorted and you can get control of your life back. a
And you're never more than a keyboard away if you need any help! And I'm with Think Banking, it's been a bit of a nightmare (not Think Bankings fault), because my BR date was at short notice I didn't have time to make sure that all my payments for that month had gone out, so ended up with Direct Debits being refused (and no card to pay them over the phone!) But most have been great and will just take 2 payments next month. And as Ang says the monthly fee is less than I used to pay in overdraft fees! And thanks Andy for pointing out that I should include the £12.50 in my I&E! I didn't think they would take this into account though.

[jane.l]

Surprisingly, we managed to get a Barclays Cash Card account the day after bankruptcy! Considering we are not on the electoral register for this address, I was getting worried we would be turned down, but the account is up and running now!

The worst part was the waiting for the account number and cards/PINs to come as all our direct debits were not paid from the old account, (utilities, pet insurance, BT, car insurance, TV licence)

I seem to have spent the last week ringing them all up and explaining things!