Soon To be bankrupt

suziedarkness

I will be filling very soon once I have got together all the fee. Could someone tell me how long they keep your bank account frozen for?

I already have a basic account with the co-op so I know thats not a problem, but my tax credits/child benefit gets paid in there and as I am self employed with very little work at the moment, thats what I am living on and I have kids to support.

Thanks
Suzie

philnicandamy

suziedarkness wrote: »

I will be filling very soon once I have got together all the fee. Could someone tell me how long they keep your bank account frozen for?

I already have a basic account with the co-op so I know thats not a problem, but my tax credits/child benefit gets paid in there and as I am self employed with very little work at the moment, thats what I am living on and I have kids to support.

Thanks
Suzie

If its a basic co-op account the receiver shouldnt really be interested (as long as you dont have a huge balance)

IF by chance the account ended up frozen the Receiver can easily sort for you (unless you live in brighton...for some reason the receiver closes co-op accounts perm)

Frozen for 24hrs or so at the most

financialdumbbum

Hi, ive been bankrupt a week now and my account hasnt been frozen - i have a basic account with NAT West - the official recieved said they wont freeze my account as it is an income account that i need to pay bills recieve tax credits etc - i do need to go and speak to Nat west tho as it is down to them if they want to still let me use the account - i think they will only freeze accounts if you have a large sum of money in it - the fact that your going bankrupt im guessing you wont!!

Good luck for it all, its very very scary and im majorily ashamed that ive had to do it as its completley my responsibility to pay back what i owe but its just one of those things and i really do think its a positive step to getting back on your feet (im hoping so anyway) i know ill never have a credit card or loan ever again!

Good luck.x

financialdumbbum

oh also meant to add prob best to do it just after all your bills (morgage/rent/electric etc) have been paid so youve got a month to get sorted before you need to use the account again

Feelingfoolish_3

Hi
I have a co-op account and went BR yesterday, was told by OR office they wont touch the account. But if for some reason the Co-op were to freeze it then a quick call to the ORs office and in half an hour it would be unfrozen. Hopefully this is the case

suziedarkness

Thanks folks for your replies. Financialdumbbum, I understand how you feel, I feel the same. I feel sick with the thought of it but I can honestly say it isnt ALL my fault, if some of these companies werent so underhanded in their conduct then maybe us strugglers would have a chance.

Thanks for your goodwishes.

Suzie

tigerfeet2006

financialdumbbum wrote: »

Hi, ive been bankrupt a week now and my account hasnt been frozen - i have a basic account with NAT West - the official recieved said they wont freeze my account as it is an income account that i need to pay bills recieve tax credits etc - i do need to go and speak to Nat west tho as it is down to them if they want to still let me use the account - i think they will only freeze accounts if you have a large sum of money in it - the fact that your going bankrupt im guessing you wont!!

Good luck for it all, its very very scary and im majorily ashamed that ive had to do it as its completley my responsibility to pay back what i owe but its just one of those things and i really do think its a positive step to getting back on your feet (im hoping so anyway) i know ill never have a credit card or loan ever again!

Good luck.x

Once they know you are BR there is a very good chance that Nat West will tell you to foxtrot oscar. Though they are not consistent and a few have managed to keep their accounts but the majority of accounts they close.

So_Sad_Angel

tigerfeet2006 wrote: »

Once they know you are BR there is a very good chance that Nat West will tell you to foxtrot oscar.

:rotfl::rotfl::rotfl: nicely said Tiger.

Angiexx

tigerfeet2006

Well I am a laydeeeee!!!

desperatetobedebtfree

Have you considered opening a Post Office card account (POCA) for your benefits. They normally take about 3 weeks to open. You would need to call Tax credits and ask for an invite document. You can also ask for tax credits to be paid by cheque in the interim. The cheque can be then "cashed" at a Post office and you are given cash

Also CHB can suspend payments if you ask them to until you have opened POCA and if you request in writing they can also send you a cheque.

A POCA isnt ideal as you can only access money through post office counters and not suitable for direct debits etc but it could be a solution until you open a basic bank account.

I also understand that the OR wont freeze a POCA.... hopefully someone more experienced will confirm this.

suziedarkness

thanks everyone. I think I will chance my arm that they dont freeze my basic co-op account. I have no money in it, I have no money full stop which is why im in this mess!!