| Author |
 Topic  |
|
|
Maz
Junior Member
United Kingdom
239 Posts |
 Posted - 29 August 2008 : 23:14:32
|
| Hi, I know that your bank accounts get frozen when you become bankrupt but is it the same for a building society savings account. Thanks |
|
|
John
New Member
United Kingdom
73 Posts |
Posted - 30 August 2008 : 01:13:45
|
Hi
all of the lending houses keep a keen eye on the London Gazette and Stubbs Gazette. Anyone listed is checked out and if you have an account you can expect them to freeze it.
Some accounts , however, have been known to slip through the net. Just make sure there's a zero balance when you go BR then after a few weeks test the water as it were.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
 |
|
|
Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 30 August 2008 : 11:04:32
|
You should be aware that if there is any money in a savings account then the official receiver will retain it
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
|
|
|
Nat
Junior Member
367 Posts |
Posted - 30 August 2008 : 11:06:24
|
Is it the same if the money was from a compenstion payout as i have been informed that this is safe?
|
|
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 30 August 2008 : 11:23:38
|
Sorry to jump on here but my OR noticed that i had £2.80 in my natwest reserve account, she told me that it was a credit balance and they must have it. I thought i could have given her the £2.80 and keep the account but no it does not work that way.
I have only, just had access to my Alliance and Leicester account frozen, that was only because they wrote to me to tell me that i managed to go over my overdraft on the 26th and i had not used the account since the 31st of July and I told them that I had gone BR on the 4/8 and could not understand why they had not closed it.
They had assured me that it is now closed and that i should not hear anything more.
I dont know, they werent very quick on the uptake were they. :)
Jo
"There is light at the end of the tunnel, if you cant find it get a brighter torch" |
|
|
|
John
New Member
United Kingdom
73 Posts |
Posted - 30 August 2008 : 12:09:04
|
Hi Nat
the compensation you received from your personal injury claim is safe. The problem is that neither the bank or the OR will know the money is in the account as a result of your payout therefore it would be frozen, the OR would claim it, then you would have to explain everything and go through the process of reclaiming it yourself.
Better to remove the funds and place them somewhere safe, such as spouse/partner/family member account.
The OR will see the withdrawal and question it. You then evidence the payout amount and reason and the money is safe. This way you don't lose control of the money at any time.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
|
|
|
Nat
Junior Member
367 Posts |
Posted - 30 August 2008 : 12:20:39
|
Hi John
Thanks for that, wasn't really thinking!! I don't know why i doubted it really, having one of those days. |
|
|
| |
Topic |
|
bank account
