Declaring Bankrupt next week

dojoman

frenchmaiden wrote: »

I am in a situation where I m considering bankrupcy and I also thought that one should not open another bank account before BR - what is the opinion on this then guys? I was also advised that if you speak with your bank they may well allow you to keep your accounts?

The only 2 friendly banks for BR`s are the Coop and Barclays, however if the Coop is a creditor you will not get an account with them. I opened my cashminder account nearly 3 months before going BR and the OR was totally fine with it. Nearly all the other banks will close your account regardless if you speak to them or not.

Robbom1

dojoman wrote: »

The only 2 friendly banks for BR`s are the Coop and Barclays, however if the Coop is a creditor you will not get an account with them. I opened my cashminder account nearly 3 months before going BR and the OR was totally fine with it. Nearly all the other banks will close your account regardless if you speak to them or not.

Thank you, this is very helpful. I will open an account today.

Do I need to tell Barclays that I am due to go Bankrupt?

philnicandamy

Robbom1 wrote: »

Thank you, this is very helpful. I will open an account today.

Do I need to tell Barclays that I am due to go Bankrupt?

Yes otherwise they'll process you for a standard account instead of a basic one..

Angiepange

Yes you do need to, to make sure they open the right basic bank account for you.

Robbom1

Thank you so much.

peachyprice

Robbom1 wrote: »

I know my old house, in my ex partner and my name, will be taken under the bankruptcy

Is there any equity in this house?

Robbom1

peachyprice wrote: »

Is there any equity in this house?

No there isn't

peachyprice

OK, in which case the house won't be 'taken' in your BR, the OR will have no interest in it and you will still have to deal with it yourself.

The easiest course of action will be to allow it to be repossesed or offer it to the bank/building society for voluntary repossession, although I doubt if this in an option without your ex's permission.

Your BR will relieve you of any liability for the shortfall once it is sold and the entire debt will then fall to your ex.

You must make sure that you do not sign any paperwork from the mortgage lender stating that you accept liability for the shortfall after the date of your BR, this is usually called Deed of Acknowledgement, otherwise it won't be included in your BR.

Have you also applied to the council for exemption from council tax while the house is unoccupied? Any council tax owed up to the day of your BR order will be included, however, you will be liable again from that day onwards until repossession, so if you haven't already had your 6 months exemption you must apply for this from the date of your BR, otherwise you'll get a big bill that you will have to pay.

As I said above, the OR will not do any of this for you, you will have to do this all yourself.

Robbom1

Oh, I never knew that! Thank you!

I have had tenants in the property up until recently so the council tax has been getting paid by them but I will apply for unoccupancy now.

Many thanks

Robbom1

OK, I've been to the Bank this afternoon and officially removed my name from the Joint account.

Does this mean this bank account, now purely in the name of my fiance, will be left alone by the OR?

Do I even have to mention this bank account now that I have been removed from it?

Advices please?