The Bankruptcy Club & Supporters Club

Richard_S

Ames wrote:

So now that it looks like going for it, what do I do about my bank account? Would I be able to open the co-op basic account and trasnfer all my benefits and dd's to it before the bankruptcy, then have it unfrozen, or would the bank close the account anyway? My dd's are spread right throughout the month so it's difficult to find a time when I'll have a few days no activity on the account to get a new one set up after the hearing in time to transfer everything.

So any advice on the logistics of account hopping would be great!

Hi Ames,

The O.R will ask you for a list of all bank and credit card accounts regardless of whether they have a credit or debit balance and will freeze any accounts that have a credit balance. He/she can then unfreeze the account to allow you access to cash for your living expenses.

We opened two bank accounts the day after we were declared bankrupt and had no problem at all. We then set D.D's up and the odd one we missed they just send a form through the post asking you to complete a new direct debit mandate. Nationwide offer a D.D transfer service that is really helpful but we chose to do it ourselves.

Barclays also have a basic cash account as do Co-Op but I would wait until you have been declared bankrupt before setting up a new account or you may have to go through the whole process again.

As for your income, we changed bank details for my salary and had it paid into one of our children's accounts - that was on the advice of our solicitor so nothing dodgy about doing it.

Rich

Ames

Thanks for all that, I'm just a bit concerned that I wont have time to set up a new account before any dds are due, as I've got them set up every few days throughout the month. My benefits are paid fortnightly, so it's going to be awkward timing it so that it's just after benefits have been paid but long enough that I'll be able to change dds, I don't want to start my life as a bankrupt with loads of charges for dds bouncing!

It'll have to be co-op I think as I have debts with Barclaycard and natwest.

Ames

Another question, sorry. I've just got a letter from CAB with all the info I need in it, and it says that some electric companies will make you go onto a token meter, how likely is that? I've already got expensive heating a pre pay meter might make it too expensive for me.

rog2

Ames wrote:

Another question, sorry. I've just got a letter from CAB with all the info I need in it, and it says that some electric companies will make you go onto a token meter, how likely is that? I've already got expensive heating a pre pay meter might make it too expensive for me.

Hi Ames,

I think this will depend on your energy supplier, and, more importantly, if any of the debt in your bankruptcy is due to them. Many energy suppliers do this to any customer who is in arrears, but if you have been a good regular payer, and none of your debt in bankruptcy is owed to the electric supplier, I don't think that they would change anything. Certainly no legal requirement, as far as I can see, to inform them of your bankruptcy - unless of course they ask you (even this is unlikely unless you change suppliers).

rog2

nillhouse wrote:

Im in too, just started filling in the forms online, and now saving for the fee!

Just one little question though, can I just turn up at court, or will I have to make an appointment?

You can 'just turn up' at the court, with the paperwork, but it is likely that they will make an appointment for the actual hearing although I have heard of the occasional case where it can be dealt with then and there - but this is rare. You can always phone your local court for advice.

Toto

Rog I have been following your story and just wanted to say thanks for turning your own difficult time into a positive way to help and encourage others. I really hope everything goes smoothly with your bankruptcy and your future is bright and secure.

nillhouse

Cheers Rog2

severussnape

hi

as anyone who knows us knows that oh went bankrupt on 7th august this year so can we please have a number.

we would love to help anyone who is going through this as it can be absolute hell all wwe can do is give you the advice we had and let you know of our experiences.

Ames

The forms I've got from my court (Leeds) say that if you just turn up you'll be told to go away, you have to have an appointment.

Thanks for that about the energy suppliers, the info I got made it sound almost automatic, although I couldn't work out how they'd know I'd gone bankrupt, none of my debts are with them (yet).

rog2

severussnape wrote:

hi

as anyone who knows us knows that oh went bankrupt on 7th august this year so can we please have a number.

we would love to help anyone who is going through this as it can be absolute hell all wwe can do is give you the advice we had and let you know of our experiences.

Hi sev and welcome to BCSC. We welcome any input/advice and look forward to seeing you as a regular contributor.
Mike SH issues the numbers, but he has just started a new job and has been away for a couple of weeks - he will issue numbers as soon as he gets back, but we're a pretty informal bunch here and you don't really need a number.
Just add BCSC member to your signature and we all know who you are. But you WILL get your number soon - I promise.