I am currently in an iva and have a barclays cash card account. I think I will have to go bankrupt and am wondering if I will be able to keep this account or if it is likely to be frozen?
It all depends on whether you have any debt with Barclays - if not then you can continue to use this account. You do not have to list this account on the bankruptcy forms (as the forms are for debts and bank accounts where you are overdrawn etc) just let the OR know when you have your appointment that you have opened a basic account for income purposes and provide the details to them at that point. That way you can avoid the risk of the account being frozen, it would get unfrozen in due course but this can take up to 5 working days!
If you have other debt with Barclays you will need to open a new basic account elsewhere
Hope this helps
Melanie Nicholas 29 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
When I went bankrupt I had a debt with the Co op bank but I was still allowed to open a basic cashminder account with them. It may be different with barclays I don't know.
If in any doubt just close the barclays account down and open a Co Op cashminder account, you should have no trouble with that.
Barclays basic account is fine I am told - I am with Coop Cashminder and they are great!
I had 7 accounts with Barclays and they were all frozen with my BR. That was 9 months ago - I had a noce letter from Barclays today to ask if I wanted a cash account!!??
Hey ho, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!)
basic bank account
Posted - 03 February 2010 : 12:28:50
