M husband has just begun to work as an art teacher, earning only about £500 per month at the moment and we are going bankrupt court on monday 13/10/08. Will this self employed income be seized, he is sometimes paid in advance for lessons which goes towards materials, hall hire, and household expenses. Very concerned about being able to keep a bank account of some sort. How can we pay direct debits and where can my salary be paid into? Are bank accounts frozen immediately, how can I make alternative arrangements?
The OR would look at his income to try and work out if any if a payment can be made towards your debts, so it will have to be declared and then the OR will decide from there.
Maybe one of the others might have a different view on it but thats how i see it.
As for bank try the Coop cashminder account they do So's DD's and also an electron card too. They seem to be the bank for us BR at present unless they are a creditor of course.
Good luck hope i have helped a bit.
Jo x Your Mother Hen :-)
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Hi lucydl just make sure if your husband has funds at the bank via advance payment and at the time approaching his bankruptcy then he should withdraw the money in cash and then explain why the withdrawal was made if and when he is asked by the examiner at interview. It is perfectly legitimate to do this.
My bank account with the halifax was clossed as soon as they read in the evenning standard of my bankruptcy even thou i had told them i was going bankrupt and they said i could keep my account. so be aware.
self employed income ?
Posted - 07 October 2008 : 17:30:40
