I have a joint current account with my wife, which we pay household bills out of. Will this be account be stopped if it is just me going BR and if so how do we then pay household bills?!
Also if the OR feels that we may have been silly with our money i.e buying the children toys and buying things for the house when prehaps we should off been paying for some bills, will this then go against us and could the BR be stopped.
Also would we beable to keep sky and the internet (in my name)
HI again! Bank accounts are in the hands of the banks when it comes to BR. Some are BR friendly others aren't! Who is the account with? Normally the OR will notify the bank that they have no interest in the account (unless its got loads of money in it!) A lot of us on the forum have opened Co-op cashminder accounts - they are BR friendly! An expert will advise you better than I can - but may suggest you open a new account with the co-op in readiness for your BR.
As for sky and internet - when you complete the SOA you list how much you pay out each month on household essentials. You could list them here - keep the amounts reasonable or not list them and use some of your disposable income to pay for them. An expert will give you advice on the best way to go with this. Personally I didn't list them but I know others have and the OR has deemed them reasonable expenses.
Once again - hang on for a BR expert to come online.
If there is no money owed to the bank you hold the current account with you could ask to come off of the account that way your wife can keep the account in her name only.
The OR will look at your conduct prior to Bankruptcy and how the money was spent without knowing all the details of your case I could make no comment on your conduct and what you could expect.
The Bankruptcy, however would not be stopped, but if your conduct is considered bad then you could receive a Bankruptcy Restriction Order or Undertaking BRO/BRU this would hold you under the restrictions for Bankruptcy longer than the twelve month period.
Vicky talks about experts coming on line - you too are fast becoming this forum's expert Vicky and I hope the site manager will soon give you the recognition you rightfully deserve!
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
There is £300 overdraft on this account. Will my wife be left responsible for this or can i include this in the bankruptcy (as my wife has her own money going into her own account and not our joint) If this account is also to be closed or frozen will they give us time to change accounts and all direct debits or should i do this before hand - so it is a straight swap?!!
Bank Account
Posted - 22 May 2008 : 17:28:20
