BarclayCard and M+S

[l8onjones]

Re: BarclayCard and M+S

I opened a Co-op Cashminder account when I decided to go UE a couple of years ago and have never had any problems. You can even use the debit card for "Pay at Pump" petrol.

I know occasionally there will be problems as with any product/service but I think these are in the minority.

EDIT: I just phoned them when I wanted to open the account - didn't have to send my passport or anything like it says on the threads you've linked to.

ah right I see yeah i will have to give it a try, got to ask what does UE mean?

[vint1954]

Re: BarclayCard and M+S

UE Unenforcable

[l8onjones]

Re: BarclayCard and M+S

UE = unenforceable, i.e. your creditors won't be able to obtain judgment against you if the account is unenforceable.

Just the best thing ever to happen to a lot of us!

...and this forum's speciality

haha brilliant, most people are looked down on when in debt but this forum is a god send so glad i found it.

Just got a cashminder account, is this a good sign? or is it irrelevant as its a bare basics account?

[l8onjones]

Re: BarclayCard and M+S

Yeah I did get a debit card with it, i just thought it may be a good sign? or does it not show anything

[5corpio]

Re: BarclayCard and M+S

Bump!

[l8onjones]

Re: BarclayCard and M+S

I actually ended up getting knocked back for the cashminder account...is this a bad sign? Ive got another question but dont know if its in the right place..

Ive got a job and had to fill in a form titled character enquiry and it says are you insolvent? would I be classed as insolvent? also would they be able to credit check me without my permission?

I know I have to have a check with disclosure scotland would that flag anything up? because as im aware thats just criminal convictions

[Never-In-Doubt]

Re: BarclayCard and M+S

I actually ended up getting knocked back for the cashminder account...is this a bad sign?

CoOp have changed their lending criteria.... have you considered Natwest basic account...?

Ive got a job and had to fill in a form titled character enquiry and it says are you insolvent?

see this thread - replied there! ---> Work Offer - allaboutFORUMS

[ScabHunter]

Re: BarclayCard and M+S

I actually ended up getting knocked back for the cashminder account

CoOp have changed their lending criteria....

Hi Niddy,

Just two quick questions if I may –

1) Is there anything here which existing Cashminder account holders need to worry about? I set mine up in October 2006 just before the start of my own UE adventure, and I've never had any problems with it.

2) This presumably means we need to stop advising posters to open Cashminder accounts when they need a parachute account. This is something I've done routinely since my days on the CAG, because I got the account opened right at the time when my credit file would have been at its absolute worst. The Co-Op was also less likely to be linked to any other bank reducing the risk of set off. Which are the best options now for someone with a ruined credit file looking for a parachute account?

Thanks,
SH

[Never-In-Doubt]

Re: BarclayCard and M+S

Hi Niddy,

Just two quick questions if I may –

1) Is there anything here which existing Cashminder account holders need to worry about? I set mine up in October 2006 just before the start of my own UE adventure, and I've never had any problems with it.

2) This presumably means we need to stop advising posters to open Cashminder accounts when they need a parachute account. This is something I've done routinely since my days on the CAG, because I got the account opened right at the time when my credit file would have been at its absolute worst. The Co-Op was also less likely to be linked to any other bank reducing the risk of set off. Which are the best options now for someone with a ruined credit file looking for a parachute account?

Thanks,
SH

Hiya

1. Nope they did state existing customers would be unaffected.

---> BBC News - Co-op stops offering bank accounts to bankrupts

It said existing customers in this situation would not be affected.

2. You'd now be looking at Natwest basic, barclays basic and nationwide cash+ - all come with visa debit card

--> Money Advice Service - Compare current accounts

[ScabHunter]

Re: BarclayCard and M+S

Interesting.

That article only refers to undischarged bankrupts not being able to get accounts, but maybe Co-Op has tightened up on other criteria as well. I have to ask the obvious question, though, of whether the OP has definitely got their identity/address information in order. Are you on the electoral register, have you changed addresses recently, etc. These factors can also screw up getting a bank account, so make sure they are at least as much in your favour as they can be.

It's strange. A few debts from the distant past shouldn't stop you getting a basic bank account, not if everything else is in order and especially not if you are now employed.

SH

[Never-In-Doubt]

Re: BarclayCard and M+S

Fraud (N Hunter/CIFAS) plays a large part. A refusal of basic banking usually points to a fraud indicator - such as mis-match n hunter data.

[l8onjones]

Re: BarclayCard and M+S

Interesting.

That article only refers to undischarged bankrupts not being able to get accounts, but maybe Co-Op has tightened up on other criteria as well. I have to ask the obvious question, though, of whether the OP has definitely got their identity/address information in order. Are you on the electoral register, have you changed addresses recently, etc. These factors can also screw up getting a bank account, so make sure they are at least as much in your favour as they can be.

It's strange. A few debts from the distant past shouldn't stop you getting a basic bank account, not if everything else is in order and especially not if you are now employed.

SH

Yeah I have used the same address I did move away for uni a few years ago, but I am on the electoral roll etc

[l8onjones]

Re: BarclayCard and M+S

Got a quick question ive started a new job which would put me in a position to start paying these debts back..would this be a wise idea? or would it have no affect on my credit rating so I should just let it go?

[SA Gold]

Re: BarclayCard and M+S

Got a quick question ive started a new job which would put me in a position to start paying these debts back..would this be a wise idea? or would it have no affect on my credit rating so I should just let it go?

Probably best to save the money you aren't paying them and wait until its been sold on and make a silly offer. Assuming we are talking about enforceable debts?

[Never-In-Doubt]

Re: BarclayCard and M+S

Got a quick question ive started a new job which would put me in a position to start paying these debts back..would this be a wise idea? or would it have no affect on my credit rating so I should just let it go?

no do not try and pay it back yet - no need. Just relax.....