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fairimum
Starting Member
2 Posts |
 Posted - 06 March 2009 : 14:38:21
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Have had advice from CAB after house reposesion, got all forms completed... now just got co-op cards for cashminder account in the post. Can i start using thid account now? transfer DD etc over? read on here that it doesnt need to be listed on the forms, but CAB said legally all accounts must be put on form. so if the account was frozen, would that effect any of the DD i set up now? will the be cancelled?? what about money in paypal - have ad to sell some things on ebay so have money for food etc this month?
thanks for your help!
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 06 March 2009 : 14:55:06
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Hi there and welcom eto the forum - the form requires all accounts (where you owe money ie overdraft or linked to credit card /loan) to be listed on the form. There is no need to list your co-op account as you do not owe them money, it is okay to go ahead with transferring your DD's and pay etc into the co-op acount. When you have had your hearing you will have a telephone appointment with the Official Reciever, when speaking to them you can inform them that you have set up a new account and provide them the details of the co-op account at that poit. By dealing with the account in this way you eliminate the risk of the account being temporarily frozen and you not having access to your salary. with regard to the money in Pay pal withdraw it into your new account and use to meet day to day living expenditure
Hope this helps explain things for you and good luck for Monday, let us know how it goes
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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fairimum
Starting Member
2 Posts |
Posted - 06 March 2009 : 17:13:05
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Are you sure this is the case.... just the form says
(form 6.28) and i quote" Please list any bank,building society or national savings accounts you hold or have held in the last 2 years,including any joint,,business or dormant accounts.
So I assume I have to put down the new account too? |
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John
New Member
United Kingdom
73 Posts |
Posted - 06 March 2009 : 20:35:55
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Hi
section 4 unsecured requires all and any bank accounts to be listed where there is a minus balance.
All of these accounts plus any others not overdrawn should be listed in section 5.
The purpose of the question regarding which account your income is paid into is for the OR to deal with it poste haste and, where applicable, advise the bank that they have no interest in the account so as to cause as little disruption as possible.
However, in the majority of cases the bank will still have frozen it until the OR states no interest and even then the bank may close the account.
Withholding this information should not make a difference to the freezing of the account as this is not an action taken by the OR but by the banks themselves so if you do not list it in section 5 the bank will of course still be aware of its existence and will have read of your bankruptcy through the London and Stubbs Gazettes.
The co-op cashminder account is in the main a product for undischarged and discharged bankrupts so if you do not use the account until after you petition the court and the co-op is aware of your intention to declare bankruptcy they will not usually freeze or close the account and thus it will be readily available to use, but I would not recommend you do so until after the hearing.
John White
England Jackman & Spacey |
Edited by - John on 06 March 2009 20:37:42 |
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