Bank accounts

LOUISE22_2

Got myself confused again, think after reading too many posts today! I cant open a Co-op account, because I had one 6 mnths ago which they cancelled as I went O/D 2. oops. So lost that option. I read Barcalys may be able to offer an account, or there are those accounts that you pay a monthly fee for. Ok, understand all that, but do if I open up one of these accounts tomorrow and dont put any money in it, then go bankrupt, will it get frozen, or will it be OK? also, what do i do for money they days/weeks (how ever long it takes) from going bankrupt to when the bank accounts get unfrozen? I bank with Lloyds TSB at mo, just their basic account, but I am guessing this will be frozen. Do I withdraw all my (well what little I will have) money they day before, so its just cash in my pocket? thanks for any advice. x

gpkwells

Open your Barcleys account just after your court appointment. Tell them you are BR and need a basic account. Coop still give accounts to people who have gone BR owing them money - so you could also use them if more convenient.

Take what cash you have out of LloydsTSB just b4 going BR and then deposit it in the new account you open.

LOUISE22_2

Thanks gpkwells, do I then inform my OR about it, and can I use the cash I put in it, or do I have to wait for the OR's permission? thanks again x

gpkwells

Keep the OR fully informed of everything. You will speak to someone from his office on the day you go BR (will be over the phone at court), tell them you are going to open so and so bank account and are putting x pounds in to it. Once you have got the account details give them a call and let them know.

Always be honest with the OR as they can find out everything pretty much. Have you had your SOA looked at on here? If not post it on a new thresd and we will all have a look at where you can maximise it to bring it as close to your income as poss!

:beer:

LOUISE22_2

OK gpkwells, I will do - thanks again for the advice, really helpful!!

fermi

The OR does not have to be given the details of any account that you open after the BR hearing unless they specifically ask you to do so.

What will happen to my bank account?

Do I need to tell the official receiver or trustee about my new bank account?

You do not need to tell your official receiver or trustee about any new bank account opened after the date of the bankruptcy order unless you are asked for that information. You do need to tell the official receiver or trustee about any money in the account that is more than you need for reasonable living expenses.

If you have already opened the account before the BR, then they must be told. ALL accounts (used or not) open before the BR must be declared.