| T O P I C R E V I E W |
| amyc |
Posted - 24 January 2010 : 14:47:10
hi all. i am due to get paid 5 days before i go bankrupt. do i need to empty my account before i go. i have no debts with my account. its a co op cashminder. but even if i do not mention it in my paperwork they will know i have it because of transfers of wages between one of my accounts thats included in bankruptcy. |
| 8 L A T E S T R E P L I E S (Newest First) |
| debtinfo |
Posted - 24 January 2010 : 16:11:07
It normally takes a while for accounts to be frozen, normally if you talk to the OR on the day or shortly afterwards, then a co-op account will not get frozen at all.
Normally it will be done seperatly, depends on the judge, but then again some people dont see a judge and if you do its only a couple of questions |
| amyc |
Posted - 24 January 2010 : 16:04:47
no we do not have any trade assets or anything like that so it should be quite straight forward. do i explain while i am at court that this account is for wages only. will all accounts be frozen on the day that i attend court. also me and my partner are going on the same day. will it all be done together or seperatley. |
| debtinfo |
Posted - 24 January 2010 : 16:00:10
Yes you should put it on your forms, you should tick the box about are your wages paid into this account, this means they will keep it open if possible.
on the petition you circle which ever bits apply to you, i presume you dont have a trading address etc |
| amyc |
Posted - 24 January 2010 : 15:49:09
its just the questions seem very specific asking what accounts you have and how much are in them. dont want to look as though i am hiding anything but then again our co op account has nothing to do with our debt? |
| amyc |
Posted - 24 January 2010 : 15:46:11
thank you, i have few more questions if you dont mind. on the bankruptcy forms it asked about all cash cards and bank accounts, should i list my co op account or not? also on the debtors position do you just circle the one thats applies best to you. think its the part about centre of main interests? |
| debtinfo |
Posted - 24 January 2010 : 15:25:17
Dont worry amy, they wont take it, the reason they ask is so that they can write to the bank saying that they have no interest. Only people who have savings will get the money taken not your normal wage |
| amyc |
Posted - 24 January 2010 : 15:13:21
the money thats in our co op account on day of bankruptcy will be our wages. bit concerned they will take it but it will all be needed to cover rent and bills like you say. what happens when payments are made into an account thats frozen, its just i am expecting child benefit the day we go to court and child tax credit the week after. can payments still go into an account thats frozen? |
| gettingoutofdebt |
Posted - 24 January 2010 : 15:00:46
It would be advisable to make sure that you take some money out just in case the account is frozen for a few days. There is no need to empty the account but it is best to make sure you have enough cash to last for a week.
I have heard of one or two people also being asked by the OR's Assistant on the day that they declare BR how much money they have in their account. If you have money in the account make sure that you let the OR's Assistant know that you need it to cover rent, food, etc. for the rest of the month otherwise they may claim it to pay towards your creditors. |
