The Bankruptcy Club & Supporters Club

sandralovescats

The law says that they may not include any State Benefits in the calculation for an IPA.

So, if there is income from a job + income support + child benefit + child tax credit, they would disregard all the Benefits paid and only count the income from the job.

"State pensions, like other state benefits and allowances, do not form part of a bankrupt’s estate (section 187 of the Social Security Administration Act 1992). If a bankrupt is in receipt of a state pension, then these moneys can be included in any calculation for an income payments order, but only in exceptional circumstances should the official receiver consider applying for an income payments order where the bankrupt’s sole or main income is from a state pension. (See chapter 31.7 for guidance concerning income payments orders"

from the insolvency.gov.uk website

moonlitshadow

Morning guys! Hope you are all well today!

Just a 'quick' question about basic bank accounts / banking after B:

I was going to open a basic account after going B, but then, after hearing a few things about people not having their accounts frozen if they're only 'basic', decided it couldn't hurt to just open a basic account, just so I know we've got one lol. So...I opened a NatWest Step account online on Monday, had the paperwork through today to sign and return. All well and good so far. Very basic account - no O/D, no cheque book, nothing at all really lol

Sorry, rambling here...what I wanted to know was whether you'd think it was worth trasferring my salary payment, standing orders and direct debits into the account before the bankruptcy, or should I wait until afterwards...don't want to waste time doing all that only to have to open another account and transfer everything a second time if the NatWest account is closed. Perhaps I should just keep a pound in the NatWest account as a credit, then, if I'm allowed to keep the account afterwards, start transferring everything then? Sorry if I'm answering my own questions here lol, just need a bit of reassurance/guidance on this please

In the meantime I'll have a look through their t&c's...although as we all know personal experience is often much different!!

Thanks in advance
C xx

gettingitsorted

Hi moonlit,

I opened my basic account 2 weeks ago and sorted out all my DDs b4 i went bankrupt ,i was worried about it being frozen and having to re do it all again.
But when i had the meeting with the bankruptcy clerk just before court she asked me if any of the accounts on my papers were a basic account as it would not be frozen and if it was it would be a mistake and unfrozen within 24 hours (she wrote on the papers basic bank account ).

hope that helps
GIS

Mike_St_Helens

moonlitshadow wrote:

Morning guys! Hope you are all well today!

Just a 'quick' question about basic bank accounts / banking after B:

I was going to open a basic account after going B, but then, after hearing a few things about people not having their accounts frozen if they're only 'basic', decided it couldn't hurt to just open a basic account, just so I know we've got one lol. So...I opened a NatWest Step account online on Monday, had the paperwork through today to sign and return. All well and good so far. Very basic account - no O/D, no cheque book, nothing at all really lol

Sorry, rambling here...what I wanted to know was whether you'd think it was worth trasferring my salary payment, standing orders and direct debits into the account before the bankruptcy, or should I wait until afterwards...don't want to waste time doing all that only to have to open another account and transfer everything a second time if the NatWest account is closed. Perhaps I should just keep a pound in the NatWest account as a credit, then, if I'm allowed to keep the account afterwards, start transferring everything then? Sorry if I'm answering my own questions here lol, just need a bit of reassurance/guidance on this please

In the meantime I'll have a look through their t&c's...although as we all know personal experience is often much different!!

Thanks in advance
C xx

Mornin...

If you tell the OR about the account they have a duty to tell the bank, but they will stipulate to them that they are happy for you to keep the account open. Its up to natwest wether they do.. and if you have any debt with natwest then that may be the issue...

I am having some difficulty finding a bank that will give us an account that we didnt have any debt with !

The OR has said we can keep our normal lloyds accounts ith normal debit card etc.... This all now depends on lloyds and wether they agree to let us keep it and what mood they are in ! Sorry I couldnt give you a mored defined answer.. but thats how i found it... all a bit up in the air really ...

gettingitsorted

Morning Mike

glad you came out ok on monday and are now starting a fresh

Mike_St_Helens

How did you get on ?

gettingitsorted

Thanks for asking Mike

all went smoothy for me ,

i arrived at court and was seen by a bankruptcy clerk who went through the forms and gave me my number once id sworn on the bible she took my papers into the judge (i didnt haft to go in) then she came out and we went back to a room where she told me when the OR would be in touch and gave me my copy of the paperwork and that was it .

i was really shocked as i was expecting a grilling

moonlitshadow

Thanks guys, that's put my mind at rest...thankfully we don't have any debt with NatWest, or any of their linked banks/organisations; think I'll bite the bullet and switch everything over before going B. Just got to phone the court now, eek, best find out where it is first...only lived in our new area coming on three months ('best part of the last 6 months' I know!) Will keep the club up dated. Glad it all went well for you both too...first days of the rest of your debt-free life now eh?

Mike_St_Helens

Hi guys...

Im sorry for the delay. Here is a list of all member numbers so far, If I have missed you Im sorry - PM me and ill gladly issue one.

Mike x

Me 1
Richard s 2
etlan 3
Anniestar 4
earwig 5
minniespender 6
Rog2 7
bluezone 8
Biffa 9
Goldielocks 10
james & Shell 11
davethe cue 12
sarahskint 13
sueshells 14
don5 15
grannyknits 16
severussnape 17
sandralovescats 18
dirtyepic 19
flis21 20
Getting it sorted 21
tudor8king 22
The Shuffs 23
livilou 24
Moonlitshadow 25

moonlitshadow

Yey I'm 25, getting younger and younger lol
Thanks Mike! Off I go to change my signature now...