| T O P I C R E V I E W |
| suze |
Posted - 03 February 2009 : 14:24:11
Hi!
We've been told conflicting info regarding bank accounts in bankruptcy!
Does anyone know, would it look 'bad' to the O.R if we took some of our money out just before we go bankrupt? I.e. do we have enough time before the leftover money is frozen? (This remainder is from our usual legitimate, monthly wage!).- We thought the O.R 'froze' or seized all monies leftover, but the Insolvency service has said, NO they don't do that. It is the BANK that will or wont freeze the account, and it is upto the BANK'S INDIVIDUAL policy?! (we are only talking about around 250 pounds here!) Thanks!! :) |
| 8 L A T E S T R E P L I E S (Newest First) |
| zamfir |
Posted - 05 February 2009 : 00:22:12
The court staff and OR said I could withdraw all my monthly wage from my account the day after going BR. |
| Skippy |
Posted - 03 February 2009 : 19:48:35
Lloyds were good with me as well and allowed me to keep my account. The problem was I stupidly sent the debit card off to the OR! When I asked Lloyds for a replacement they would only send me a cashcard, which was useless so I switched to the Co-op.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
| hanlou |
Posted - 03 February 2009 : 18:56:37
hi, hubby and i have separate accounts with the same bank and we took every penny out day before br as needed for bills etc then put on the soa nil balance our or has stated no interest in these accounts so we contacted the bank lloyds tsb who were great and said we can keep the accounts as before with visa debit cards and cheque book we still applied for co op cashminder the day we went br as a back up but everythings ok at the moment |
| Skippy |
Posted - 03 February 2009 : 17:11:05
I actually forgot to declare the money as cash in hand and the examiner didn't even ask if I had any. Obviously thought I was living off thin air!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
| got there |
Posted - 03 February 2009 : 17:03:18
Me too, I only had 1.36Cr - took money over the course of several days as the limit you can withdraw was £250. Like skippy says it was never questioned.
HTH
GT |
| Skippy |
Posted - 03 February 2009 : 16:21:20
I took my money out of my account the day before I went BR and it was never questioned.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
| Melanie.n |
Posted - 03 February 2009 : 15:23:00
Hi Suze
my personal advice would be to remove your money from the account so that you have cash to hand to tide you over in the event of your account being 'frozen'. Is your bank account tied with any other debt ie a bank issued credit card or loan? If so you will need to open a new basic account elsewhere. I would do this prior to filing your petition and arrange for salary etc to be transferred to the new account. If the bank actually freeze your account and you wish to continue with the account as it is not linked to any other debt- it is usually unfrozen in a day or so, but it is better to have access to your money by having it safe at home! But don't waste it
Hope this helps
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
01446 711780 |
| movin on |
Posted - 03 February 2009 : 14:31:40
Hey Suze and welcome to the forum
You are ok to take your money out of the account pre br, as the OR will understand that you have to pay your household bills (as long as thats what you are going to do with it).
As for freezing the account it is down to the bank itself - Have you opened a new account yet ? it may be worth trying the coop cashminder as it is very br friendly. If you explain you intend to go br they will definitely have no problems with you.
Good luck
Jenny
xx
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
