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mick_s
Junior Member
170 Posts |
 Posted - 29 July 2008 : 09:12:42
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i want to go bankrupt and hold a current bank account can i still use that once i am bankrupt for my wages or am i not aloud
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 29 July 2008 : 09:37:05
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Hi there
From what I understand and im not 100% sure the account could be closed. But that is dependent on a few factors. The banks can usually once they get wind of the BR they can close it as i beleive inless it is part of your list of creditors then it may well be closed. That means that if you have an unpaid OD on it then it may be part of the debts that you write down and so it will be added in and more than likely it will be frozen.
It is not the OR that closes accounts i think it is the bank themselves. Also as a BK you will only be able to have a basic bank account, that does not offer any credit facilities only a cash card maybe electron but no OD, Cheque book or other means of obtaining more credit.
You are allowed once you find one that accepts you to have an account that offers SO and DD's so that you can manage your bills. But other than that like I said its dependent on what type of account you have and what is the status of this account.
The forum experts will know more but I think im on the correct lines.
Good Luck
Jo
"Lifes too short, Grab it while you can, Make each day count and live life to the full. Dont Worry- Be Happy!"
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 29 July 2008 : 09:45:56
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Hi Jo,
Yes you were on the right track,
Hi Mick,
Welcome to the forum,
If you do not owe any money to the bank with which you hold the account then it could be possible to keep the account, but this would be up to the bank.
When you declare yourself Bankrupt your account will be frozen, however you can ask the OR for their permission to keep using this account if permission is granted then you need to contact the bank and ask their permission.
If you are unsuccessful then you could try the CO-OP they have a cash minder account that is bankrupt friendly.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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369
Junior Member
366 Posts |
Posted - 29 July 2008 : 10:14:02
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I went Bankrupt in Nov 07, and was told that all of my bank accounts would be frozen and they were......i have been turned down for all of the "bankrupt friendly" banks, and was wondering if i could ask my OR now, 9 months later if they can request the bank to "unfreeze" my Barclays account - or would i have to have said that at the time?
Or as I am to be automatically discharged in 3 months - shall i just wait until then?
And once you have been discharged will it be easy enough to get a bank account?
Thanks
369 |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 29 July 2008 : 11:04:41
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Hi thanks helpful advice
I was not 100% sure if the info i gave was right but at least i sort of got it right.
It has also means that now with your input i too understand where we stand with the accounts that we have and then can go to our hearing with a bit more knowledge.
It seems that now more and more people are writing about how hard it is to even get a co-op account and i dont know which to try for after our hearing next week thats providing it all goes ok.
Im so worried that we wont be allowed to go BK.
Anyhow thanks again
Jo
"Lifes too short, Grab it while you can, Make each day count and live life to the full. Dont Worry- Be Happy!"
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Topic |
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bankrupt and hold a current bank account ?
