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T O P I C R E V I E W
Mikala
Posted - 05 August 2013 : 18:03:03 Hello I'm new here and considering Bankruptcy as what now seems the only way to live a normal life after years and years of worry regarding my debts. I'm really confused about a few areas though so hope someone might be able to answer these questions: 1. Once I've started the bankruptcy process can I withdraw again? 2. As my bank account will be frozen should I draw all funds out in advance - if not, what do I live on? How long does the freeze last?
I'd also be interested to hear from anyone regarding their experience with the official receiver - are they understanding / sympathetic at all?
Thanks, Mikala.
2 L A T E S T R E P L I E S (Newest First)
Viki.W
Posted - 05 August 2013 : 20:19:15 Hi Mikala,
1. Once the court declares you bankrupt then there really is no going back unless you can suddenly repay all your debts and the fees that will be charged, so you need to know that this is your best option before you start anything.
2. It depends who you bank with and if you have any debt with your current bank. You may need to open a fresh bank account prior to bankruptcy.
Posted - 05 August 2013 : 18:33:23 Hi and welcome to the forum.
Once you are declared bankrupt, unless you can pay off your debts in full then that is it.
Try opening a new account with either Barclays or the Co-op or, if push comes to shove, a paid for account.
The OR will be fine.
Have a word with one of the experts who post on here - contact details can be found via the expert link on the left hand side of the page. The advice is free. Bankruptcy may only be one of your options.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
