If one of your creditors makes you bankrupt and you have a few £1000 or maybe just a few £100 in any accounts will this money be held by the OR to be used to pay your creditors. I take it the OR will find any or all accounts you have declared or not.
When your Bankruptcy is advertised in the London Gazette all financial institutions will monitor this and freeze any accounts held they would then write to the OR to let them know of the accounts and any balances being held or any debt owed to the bank as a creditor.
We were told to take any money we had out of the bank accounts we had as the banks would probably freeze the accounts. You will need money until you have a basic bank account. As long as you can explain to the OR about any money that has been withdrawn from other accounts it should be fine.
Those who judge us the most, know us the least....
Hidden bank accounts
Posted - 06 August 2008 : 23:34:23
