We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Saving while bankrupt

aprilfoolsday2010
Posts: 8 Forumite
Hi all
If after being given say £180 to live on while bankrupt a month, i say live on £130 can i save the £50 in a bank account or will the receiver take money i dont use?
regards
If after being given say £180 to live on while bankrupt a month, i say live on £130 can i save the £50 in a bank account or will the receiver take money i dont use?
regards
0
Comments
-
The £180 would have to be left from an IPA. Anything over £99 will count as a surplus. No they will not take anything left over. Use any surplus for day to day living or emergencies.0
-
sorry, maybe i didnt explain myself. After Ipa sorted and all expenses calculated, if i dont need as much to live on as originally agreed. So my living expenses are for example stated as 180 but i only need 130 and for 4 months build up £200 in a bank account is that for me to do what i please with or can it be taken while bankrupt. Looking at it another way if i want to save half my surplus of £99 can i build it up in a bank? or will the or look at the account before discharge and take it?0
-
OR's do not keep tabs on you bank accounts after bc and if you wish to save that is entirely up to you.No they wont ask for it back. DxFree impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D0 -
From previous posts it seems quite a few BR (discharged & undischarged) people have savings accounts with no problem. Others have opened a 2nd co-op cashminder when they've been unsuccessful at opening a savings account. As far as I'm aware the OR expects us to save for annual fees e.g MOT, road tax etc and therefore we would need to keep it seperate from our daily/ weekly/monthly budget. If you do a thread search on savings accounts you'll get more info. Good luck.2019 MFW No. 74 £13700/£30000 (45.66%)
12k in 2018 No. 98 £6274.19/£18000 (34.85%)
BTL (start) £97440.00 (current) £68000.00
Residential (start) £275000.00 (current) £268000.000 -
Open a Yorkshire Building Society Internet Saver, you get a link card with it and very easy to operate. A lot of us here got accepted online straight away.Waiting for defaults to start self managed DMP0
-
thanks guys0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.4K Banking & Borrowing
- 252.9K Reduce Debt & Boost Income
- 453.3K Spending & Discounts
- 243.4K Work, Benefits & Business
- 598K Mortgages, Homes & Bills
- 176.6K Life & Family
- 256.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards