HOME  FORUM  MEDIA  EVENTS  ARTICLES  TV  BLOGS
•Home
Bankruptcy:
•Bankruptcy Information Center
•What is Bankruptcy?
•Is Bankruptcy right for me?

•How to declare Bankruptcy?
•What happens to my assets?
•Bankruptcy and credit rating

Forum:
•forum
•register
•search
•faq
•experts

Blogs:
•Bankruptcy News
•More...

Media Room:
•Press releases
•Media Coverage

Other:
•About BankruptcyHelp
•Links
•Contact us
•Debt Glossary
•Insolvency jobs


FORUM
  > Browse and post on our forum
Home   |   Profile   |   Register   |   Active Topics   |   Members   |   Search   |   FAQ

Welcome to our Forum, please register if you want to post
Ask a debt question
See the last 250 posts
Watch video on how to use forum
Username:
Password:

Save Password
Forgot your Password?

 All Forums
 archive
 Forum Questions
 I'm currently filling in the relevant BR forms
 New Topic  Reply to Topic
 Printer Friendly
Author Previous Topic Topic Next Topic  

singingsister
Starting Member



18 Posts

Posted - 11 November 2011 :  10:59:58  Show Profile  Reply with Quote
I'm currently filling in the relevant BR forms and have a question about my daughters savings account for which I am trustee.

What will happen to these accounts?

She has her child trust fund account with Nationwide and a savings account with Halifax (which doesn't have much money in).

The OR can't take this money can they? It was money that was given to our daughter when she was born, and we've used it to buy her clothes, toys etc.

Also, do I just add these to the accounts part of the form?

debtinfo
forum expert



2826 Posts

Posted - 11 November 2011 :  11:21:19  Show Profile  Reply with Quote
As long as you are only the trustee for the accounts and not a joint holder then the money is safe,

However from a logistical point of view you may find that because of your bankrupt status the bank will close the account meaning you will need to find somewhere else to put the money.

One other thing. i should mention although I doubt that it applies to you. If you had for instance paid a large sum of money into your child's account shortly before bankruptcy, basically to stop it being taken off you, then that would be recoverable by the trustee of the bankruptcy
Go to Top of Page

singingsister
Starting Member



18 Posts

Posted - 11 November 2011 :  11:27:57  Show Profile  Reply with Quote
Hi

The Child Trust Fund is the £250 from the government when she was born, and as far as I know - it can't be touched until she's 18 - so I would hope the OR won't touch it.

As for her Halifax account - she's probably only got about £30 in there as we've used the money to buy her things (tough times ). Nothing was bought recently (probably this time last year) so it won't look "dodgy".

And I am pretty sure I'm a trustee as in the address window of all the letters it says my name then Tee for and then my daughters name.
Go to Top of Page

Niobe
Administrator



United Kingdom
4590 Posts

Posted - 11 November 2011 :  11:29:03  Show Profile  Reply with Quote
I wouldn't think that the child trust fund can be touched as it is specifically for the child.

Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe



Jan
xxx
Go to Top of Page

debtinfo
forum expert



2826 Posts

Posted - 11 November 2011 :  12:38:57  Show Profile  Reply with Quote
I don't think you have any problems there then, maybe just the need to find a new. Home if the bank are funny about it
Go to Top of Page

ddonna
New Member



89 Posts

Posted - 11 November 2011 :  13:11:35  Show Profile  Visit ddonna's Homepage  Reply with Quote
We have a child trust fund for our youngest and the OR was not interested in it.
Hope this helps
Good luck x

Go to Top of Page
  Previous Topic Topic Next Topic  

 New Topic  Reply to Topic
 Printer Friendly
Jump To:
bankruptcyhelp.org.uk Forum © bankruptcyhelp Go To Top Of Page
Powered By: Snitz Forums 2000 Version 3.4.06