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T O P I C R E V I E W
paul63
Posted - 01 February 2010 : 21:20:27 I'm taking the BR step very soon, I have some payments due into my account on the 15th of this month which will clear my overdraft but leave little else. Should I divert the money to my wife's account and include overdraft on my list of creditors, I have been advised to hold onto as much cash as possible until after the OR has seen me. Is this the correct thing to do?
4 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 02 February 2010 : 10:45:31 Having your salary/benefits paid into your wife's account is not illegal and there won't be any problem with the OR if this is what you decide to do.
If you want your own account then you should open a Co-op Cashminder account as they are very BR friendly.
debtrider
Posted - 02 February 2010 : 10:06:15 If you are with a bankrupt friendly bank such as the Co op with a cashminder account, and the money you have in the bank is for essential living costs. The OR official receiver is unlikely to have any interest in this. If I was in your position I would draw any money out of the bank for essential living costs, until I knew where I stood with the OR. Just in case you have an awkward OR who wants to freeze your account.
Any overdraft that you have can be included in your bankruptcy. So not a good idea to put money in bank to clear overdraft and be left with nothing.
Debtrider
jellybean
Posted - 02 February 2010 : 09:51:43 This is a question I was going to ask on here myself. Could you pls clarify- My court app't is on 18 Feb and my salary is paid in on 26th Feb. Obviously the OR will have taken control of the account by then. So, a similar question to Paul- should I arrange to have my salary paid into my partners account? Is this legal? I don't want to do anything to make me look dishonest at this point.
Thank you
worriedwife
Posted - 01 February 2010 : 21:33:45 Hi paul my hubby diverted his salary to my account , cause the OR will close it , and you will need money to live on, the overdraft will just go on your list of creditors my husbands has .
