Saving while bankrupt

aprilfoolsday2010 · 19 June 2009 at 10:43AM

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

Dodger61 · 19 June 2009 at 10:53AM

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.

aprilfoolsday2010 · 19 June 2009 at 11:21AM

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?

dalip · 19 June 2009 at 1:17PM

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. Dx

iquit · 19 June 2009 at 1:27PM

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.

restofmylife · 19 June 2009 at 1:36PM

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.