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JACQUIC
Starting Member
1 Posts |
 Posted - 05 October 2008 : 22:28:37
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| I CURRENTLY HOLD A BASIC BANK ACCOUNT WITH THE BANK O SCOTLAND. IT INCLUDES A VISA ELECTRON DEBIT CARD. I AM JUST ABOUT TO COMMENCE BANCRUPTCY, WOULD I BE ABLE TO KEEP THIS ACCOUNT? |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 05 October 2008 : 22:36:58
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Hi jacquic ,
It would be entirely at the banks discretion whether you would be able to keep it .
As i was told its the bank that freezes bank account not the OR . It all depends on the banks policy re bankrupts i think .
I opened a basic bank account with Yorkshire bank a month before going BR and i spoke with the manager after opening the account and explained i would possibly be going BR soon and would the account be ok . The reply was they dont see aproblem as its just a basic account , so hopefully will be ok .
Hope this helps ,
Andy |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 06 October 2008 : 07:13:05
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Hi Jacquic and Welcome to our forum 
As Digman/Andy says its down to the bank and not the OR themselves.
If you have any money in there then the OR can ask for that as it becomes an asset and they will take it towards the money for the debts and creditors.
I would call the bank anonynmously and see what state of play maybe and also if you do have any monies remove them before BR as these will be taken unless its for DDs then you can speak to the OR about this.
Hope this helps
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
Edited by - Needafriend on 06 October 2008 07:14:31 |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 06 October 2008 : 08:00:19
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Morning Jacquic
I opened a basic account with the coop (cashminder account) and let them know about my impending BR and they were absolutely fine about it. If you dont want to let them know who you are maybe you could phone annonymously
Good luck
Jenny
xx
Morning Mother - Hope your well
Sorry to but in here . . . Who would i need to speak to pre BR, to see if i would be able to keep my money in for DD and household bills - i presumed i would have to take it out. I have already spoke to the bank and they are happy to keep my account open.
Jenny
xx
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 06 October 2008 : 08:01:23
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Think i echoed mother (sorry) clearly need to open my eyes!!
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 06 October 2008 : 08:06:25
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Morning moneyworries ,
we have the same prob re DD's going out after BR , all did was write the balance of the account in the SoA then in the details added a short note to say this money was for impending DD's . We actually filled forms in by hand and not online tho .
Dont know if that helps or not but thats what we did ,
Andy |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 06 October 2008 : 08:11:23
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Morning Andy
How you both feeling today - is it a good feeling ?
Thanks for that, it has helped. I will do same as you and keep my fingers crossed. The bank have already sadi they wont freeze the account once i tell them im BR (but if they should of said this im not sure)
Jenny
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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BankruptC
Senior Member
1030 Posts |
Posted - 06 October 2008 : 08:16:19
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Hi Jenny,
Do you mean you'd like to leave money in the account to pay some DD's due to come out shortly after BR? If so, I'd advise you didn't. I have seen many occasions where bank accounts have been frozen after BR, sometimes temporarily, even though the banks have said there would be no problem. The best way to do it, if you have to go BR with DD's due to come out, would be to withdraw the money you need, in cash (including living expenses) and find another way to pay the companies involved (eg at the post office or using payment cards or even using a friend/family member's account). If you then explain to the OR when you speak to them on BR day, they will have no problem with this as most people do it.
It may not happen (our cashminder wasn't frozen as it happened, but following advice from here, we withdrew the money anyway), but I'd hate to see your account frozen and for you not to be able to access the money you need.
Hope that helps a little.
C. x |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 06 October 2008 : 08:19:49
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Hi again Jenny ,
Yes , not feeling too bad this morning , thanks . The fact we are BR now is beginning to sink in and i think we can def look forward to a brighter and happier debt free future .
I checked with my bank manager and they said they cant see a prob as its a basic bank account , so fingers crossed they wont go back on it .
Take care Jenny ,
Andy |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 06 October 2008 : 08:26:41
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Hi again ,
Perhaps you would be best to follow C.'s advice Jenny just too be on the safe side . I only advised what i did and as i have not had any contact from the OR yet i cant say whether i have done right or wrong .
Once again take care ,
Andy |
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BankruptC
Senior Member
1030 Posts |
Posted - 06 October 2008 : 08:31:25
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Hi Andy,
Hopefully you'll be ok. It's just a risk to take to leave money in an account which you will need shortly after BR. We left some in our basic account, as we knew it wouldn't be frozen forever, but made sure we withdrew everything we needed for at least the next couple of weeks.
C. x |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 06 October 2008 : 08:43:57
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Hi there i would take out all monies needed just in case and then if the account has not been closed or touched by the OR after a few weeks then you should be able to use it again.
If not open the Co op cashminder account straight after BR and start your DDs in there.
LOL
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 06 October 2008 : 10:15:11
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Thatnks BC, Mother and andy for all your advice
I think i may withdraw all monies and pay through hubby's account for all bills etc that are due. How long will the account be frozen does anybody know?
The weights are coming off my shoulders very slowly, but making such a big diference !! |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 06 October 2008 : 10:23:33
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Hi sorry that depends on the bank of course woth regards to how long its frozen if indeed it does get frozen at all as i think it can depend on the type of account and also what the OR says if they dont need it for any monies and its a basic account the OR could inform the bank they have no interest in it and hopefully the bank wont freeze it.
LOL
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Would I be able to keep account?
