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 What will happen to lloydstsb joint account if we go bankrupt ?
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Starting Member

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Posted - 11 December 2011 :  22:19:43  Show Profile  Visit Syed's Homepage  Reply with Quote
Me and my wife have lloydstsb joint account there is a limit of 3500 pounds, what will happen if I declare bankrupt? We get working tax credit and child benefit joint what will happen there?

forum expert

United Kingdom
2211 Posts

Posted - 12 December 2011 :  06:57:39  Show Profile  Reply with Quote
Hi Syed,

You will need to open a new bank account prior to bankruptcy and have all if your income and benefits and direct debits etc transferred to this new account.

Then stop using the Lloyds TSB account. The overdraft will be included in your bankruptcy.

The Co-op do a cashminder bank account which is highly recommended.

Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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