Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
T O P I C R E V I E W
kellieann
Posted - 07 May 2009 : 18:34:59 Can the bank freeze all your accounts even in different banks before the court declares you bankrupt. How long does bankruptcy last for. So if you have benefits going into this account can the banks freeze it.
3 L A T E S T R E P L I E S (Newest First)
beau
Posted - 07 May 2009 : 19:07:08 elo I hav bank account with barclays, i had it b4 goin bankrupt (didnt owe them money) and the o/r let me keep it as i hav my benefits paid in. the bank has been really good ive had no probs at all.
gettingoutofdebt
Posted - 07 May 2009 : 18:46:53 Bankruptcy normally lasts for 12 months unless you are judged to have been naughty with your debts and a BRU is applied that can extend the bankruptcy period. Your credit file will be a mess for a further 6 years once you are discharged from BR.
Once you are declared BR it is normally the OR that notifies your banks and creditors and at this point the account is frozen. If you have a bank account with one of your creditors then it is advisable to setup another account before going BR as this will definitely be frozen and you may not be able to use it again. The Co-op and Yorkshire banks are BR friendly.
If you don't have a bank account with one of your creditors then you can call the bank before your BR hearing and ask them not to freeze the account. Some banks will oblige and some will not so it may be an idea to apply for a new bank account anyway just in case.
sjbyron
Posted - 07 May 2009 : 18:41:31 Hi Yes the Bank can freeze the account prior to BR, the questions comes to how did they found out you were going BR. Banks will freeze accounts if you owe them money or not.
Some banks however accept Bankrupts, they are Co-operative Bank for the cashminder account only Barclays, cash account and any savings account and prepaid account Natwest Step or Cash account and savings accounts but they look on your circumstances individualy Post office card account, which cant accept wages or DDI and SOIs but accepts benefit payments. Thinkbanking managed account.
I would if I was you open a new account now and get your benefits paid into it as it can take the benefits office upto 1 month to ammend the bank details held.
