I was doing a bit of research on the internet the other day on the "cool" factor of the Visa Electron debit card which has nothing to do with the content of this journal. I did come across a posting with a link to a web site which promised 100% to provide a bank account for those who might find it difficult (bankrupts for example). Full bank accounts with cheque book, overdraft and debit card.
Before I give you the URL, I would urge you to think "What has this company got that the individual hasn't when it comes to applying for a high street bank account"?
Considering the attitude of the high street (and not so high street) banks to me as a bankrupt, I can only assume there's a "trick" being applied by the company to obtain a bank account by some form of deception.
If you believe me and are still willing to part with £ 99.00, here's the link: http://www.lessthanperfect.co.uk/personal-bank-accounts-1-c.asp
Tuesday, February 26, 2008
Tuesday, February 12, 2008
Bringing things up to date
I made a bit of a joke of things to someone the other day, saying I used to be a big fish in a small pond, but now I'm a bottom feeder.
I've got to be honest, I can't blame all of my misfortune on my going bankrupt. Anyhow, as it's been over a year since I posted, I will bring you up to date.
I'd started a job about a month before the last post was written. It was a low paid job and because I've been out of work for 6 months prior to getting it, I did not have to pay any income tax for the remainder of the tax year.
The Insolvency Service had me fill out a declaration of my outgoings and then told me I must pay 36 payments of £ 50.00 (each month), towards my bankruptcy settlement. The judgement was put in the hands of a specialist solicitors and I set up a direct debit for the amount.
I only ever made three or four payments, when unexpectedly I was canned from the job, six months after I started.
The Insolvency Service suspended the payments and review my situation every three months, where I have to do a written statement of my income and outgoings, which since May of last year has been £ 59 some pence a week Jobseekers Allowance.
Having hit 50 last February, I'm now beginning to think that this is some sort of magical age where you become unemployable. That has little to do with bankruptcy and its fall outs.
I can only say I am delighted with the Co op bank account. I couldn't live without online banking and I can only praise the Co op for being the only bank who would deal with me as an undischarged bankrupt.
I discovered during my last chat with my case worker at the Insolvency Service, that I am now a discharged bankrupt. Odd, because the year's anniversary passed in August, but I did not receive any form of notification.
You can get a certificate of discharge from the court I was told, but it costs about £ 60.
I can imagine that if a discharged bankrupt was in the process of rebuilding their life and maybe was looking for a mortgage or whatever, they may need such a document as proof of their discharge, as I doubt the credit reference agencies would be falling over themselves to "improve" your social standing on their registers with this news.
With my circumstances, I have not need or intention of looking for credit of any type, but considering the way I was treated by the banks at the time of my bankruptcy, I doubt any of the lending institutions are beating paths to the doors of "ex-bankrupts", considering the sub-prime credit squeeze.
As for some of the organisations I owed money to at the time of my bankruptcy. I never heard anything more from my main creditor which was the bank. Egg wrote me a rather stiff letter which I saw as a frustrated middle manager letting off steam than Egg's policy on bankrupts.
Probably the worst were Littlewoods Home Shopping, who sold my debt on to a collection agency after they had been told of the bankrupcty by the Insolvency Service.
Whilst I don't know the operational intricacies of the debt collection industry, I have learned that they would have sold the debt on for about a tenth of its value.
I've always held the opinion that debt collection agencies are little more than thugs and gypo's with ties on. From about the middle of last year, I had a flood of letters which increased with severity on the threats made.
Each time I received a letter, I would reply politely with a copy of my bankruptcy notice, which they would ignore and follow with as I said, a more threatening letter.
After about three or four months we'd got to a stage where they were threatening to send someone round to see me, I copied all the correspondence to the Insolvency Service who jumped on them with some might and the letters immedately ceased.
The Insolvency Service really are a very supportive crutch for the bankrupt to lean on, professional and friendly too.
At one point during last year, I was receiving on a regular basis, junk mail from Capital One, offering me a credit card with a small credit limit of between £ 250 and £ 500. As I said earlier, I've no wish to get back into the mire of credit, but I was astonished by the APR they were charging, which was in excess of 30%
I was going to qualify their junk mail by writing to them asking if that high rate of interest was a reflection on the fact they already knew I had a poor credit rating or were they mass mailshotting such a crock of shit. I never did get round to writing the letter, as I know I would never have received an honest answer.
Incidentally, I'd poke my eyes out with red hot knitting needles before I would have anything to do with Capital One after an unpleasant run in with them about 5 years ago when I was still credit worthy and solvent.
Anyhow, posts on this subject certainly look like they will be few and far between, as I suspect the worst is over as far as bankruptcy is concerned. Again I say if this has helped anyone who's considering taking the steps towards bankruptcy or has already done so, then that's what it's there for.
Prior to actually going bankrupt, I did a lot of research online and found very little that was of help and a lot that was just out to con the reader into parting with money for duff advice.
I've got to be honest, I can't blame all of my misfortune on my going bankrupt. Anyhow, as it's been over a year since I posted, I will bring you up to date.
I'd started a job about a month before the last post was written. It was a low paid job and because I've been out of work for 6 months prior to getting it, I did not have to pay any income tax for the remainder of the tax year.
The Insolvency Service had me fill out a declaration of my outgoings and then told me I must pay 36 payments of £ 50.00 (each month), towards my bankruptcy settlement. The judgement was put in the hands of a specialist solicitors and I set up a direct debit for the amount.
I only ever made three or four payments, when unexpectedly I was canned from the job, six months after I started.
The Insolvency Service suspended the payments and review my situation every three months, where I have to do a written statement of my income and outgoings, which since May of last year has been £ 59 some pence a week Jobseekers Allowance.
Having hit 50 last February, I'm now beginning to think that this is some sort of magical age where you become unemployable. That has little to do with bankruptcy and its fall outs.
I can only say I am delighted with the Co op bank account. I couldn't live without online banking and I can only praise the Co op for being the only bank who would deal with me as an undischarged bankrupt.
I discovered during my last chat with my case worker at the Insolvency Service, that I am now a discharged bankrupt. Odd, because the year's anniversary passed in August, but I did not receive any form of notification.
You can get a certificate of discharge from the court I was told, but it costs about £ 60.
I can imagine that if a discharged bankrupt was in the process of rebuilding their life and maybe was looking for a mortgage or whatever, they may need such a document as proof of their discharge, as I doubt the credit reference agencies would be falling over themselves to "improve" your social standing on their registers with this news.
With my circumstances, I have not need or intention of looking for credit of any type, but considering the way I was treated by the banks at the time of my bankruptcy, I doubt any of the lending institutions are beating paths to the doors of "ex-bankrupts", considering the sub-prime credit squeeze.
As for some of the organisations I owed money to at the time of my bankruptcy. I never heard anything more from my main creditor which was the bank. Egg wrote me a rather stiff letter which I saw as a frustrated middle manager letting off steam than Egg's policy on bankrupts.
Probably the worst were Littlewoods Home Shopping, who sold my debt on to a collection agency after they had been told of the bankrupcty by the Insolvency Service.
Whilst I don't know the operational intricacies of the debt collection industry, I have learned that they would have sold the debt on for about a tenth of its value.
I've always held the opinion that debt collection agencies are little more than thugs and gypo's with ties on. From about the middle of last year, I had a flood of letters which increased with severity on the threats made.
Each time I received a letter, I would reply politely with a copy of my bankruptcy notice, which they would ignore and follow with as I said, a more threatening letter.
After about three or four months we'd got to a stage where they were threatening to send someone round to see me, I copied all the correspondence to the Insolvency Service who jumped on them with some might and the letters immedately ceased.
The Insolvency Service really are a very supportive crutch for the bankrupt to lean on, professional and friendly too.
At one point during last year, I was receiving on a regular basis, junk mail from Capital One, offering me a credit card with a small credit limit of between £ 250 and £ 500. As I said earlier, I've no wish to get back into the mire of credit, but I was astonished by the APR they were charging, which was in excess of 30%
I was going to qualify their junk mail by writing to them asking if that high rate of interest was a reflection on the fact they already knew I had a poor credit rating or were they mass mailshotting such a crock of shit. I never did get round to writing the letter, as I know I would never have received an honest answer.
Incidentally, I'd poke my eyes out with red hot knitting needles before I would have anything to do with Capital One after an unpleasant run in with them about 5 years ago when I was still credit worthy and solvent.
Anyhow, posts on this subject certainly look like they will be few and far between, as I suspect the worst is over as far as bankruptcy is concerned. Again I say if this has helped anyone who's considering taking the steps towards bankruptcy or has already done so, then that's what it's there for.
Prior to actually going bankrupt, I did a lot of research online and found very little that was of help and a lot that was just out to con the reader into parting with money for duff advice.
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