Got my Date 5th Nov what next

RichardRichard1234

Greetings everyone..

I have just got my date to pay the court and take my papers..

But what i dont know is what happens during this time and what happens next

any advice would be great

alastairq

hi and welcome.....

If you let it, a whole bright new world awaits....
between now and the 5th, make sure any non-acceptable bank accounts are emptied.

Have you opened a new, basic account....with either Co-op Bank, or Barclays?

[if Barclays are one of your creditors, don't attempt to open a basic account until after next Friday]

I suggest opening a Co-op Cashminder account..[I recommend two eventually...makes bill paying a darn sight easier]

Transfer any Direct Debits, wages etc....

All in preparation for the big day.

Unless you live in Brighton,opening a new basic bank account will create no problems.....as long as the only money in it is for living expenses..[for the moment]..


Either on the day...or a short while later, you will likely have a telephone interview with the OR's office...just to establish some admin details, confirming bank accounts, etc...and likely the OR's rep will tell you if the OR has ''no interest''.


You will have an appointment made for the full OR's interview..either by phone...or..if circumstances dictate, a face-to-face interview...during which information in your court papers will be confirmed, and any queries on your SOA will need answering.

Basically the OR's rep will be attempting to make some sense of what is on the court papers......it helps them do a proper job!

Once that is over with....you will be notified if the OR deems an IPA should be paid...or not.

feel free to ask on this forum....if anything worries you....

dojoman

Welcome to the forum can`t really expand on what has alastair has said really. Have you taken advice about going BR?

RichardRichard1234

Hi and thanks

Yeah I paid an Advisor 1/2 fee got all the information I needed of what income and expenditure I needed etc (self employed) and did the paperwork myself with the help of a friend who has also gone bankrupt,

I have an ICICI account would that be stopped????? they dont offer credit facilities. Its just one of the Indian offshore banks which has a couple of offices in the UK..

Rick

dojoman

Hi, sorry but I honestly don`t know what would happen to that account. All I do know is the the only 2 accounts that are BR friendly, and will not be frozen are the Coop Cashminder and Barclays basic account

RichardRichard1234

Off to co-op on monday then Cheers

Oh whats an IPA too

dojoman

You can apply over the phone but not online, that is what I and lot of us did. My nearest branch is 10 miles away, and I have yet to step foot in it, my account is over 12 months old.

http://www.co-operativebank.co.uk/servlet/Satellite/1193206368743,CFSweb/Page/Bank-CurrentAccounts?WT.svl=copy

An IPA is an income payment arrangement, basically what it is, if you have any cash left over each month after paying all your necessary bills, then if you have £100 or more surplus you will pay a percentage to the OR. This is done on the following scale.


Between £100 and £249 = 50%
Between £250 and £349 = 60%
Between £350 and £499 = 66%
£500 or more = 70%

70% is the max the OR can take so even if you have £2000 DI the OR can only take 70%.

debtinfo

RichardRichard1234 wrote: »

I have an ICICI account would that be stopped????? they dont offer credit facilities. Its just one of the Indian offshore banks which has a couple of offices in the UK..

Rick

Thats a new one on me, but the same general rule should applu, that is the OR wont close the account if it ihas no credit facility, they will write to the bank to inform them of the bankruptcy, from there it is entirely down to the bank if they want you as a customer.

One question i think the OR would be thinking is why do you have an offshore indian bank account, ie do you have business dealings abroad or assets abroad

there is nothing wrong wih it but you might get a few questions

skylight

ICICI is not an "off-shore" account as perhaps a Cayman Islands or Swiss account would be. Its regulated by the FSA in the UK and is set up similar to IceSave was, but has far better regulations over it. So its an account that comes under UK law and will therefore be closed if it has a debt (overdraft) attached to it, or if its savings, the OR will take the contents. If its a basic bank account then its down to ICICI's own policies as to whether or not its closed.

Treat ICICI as a normal UK account and set up a parachute bank account just in case.

RichardRichard1234

Just been in touch with the ICICI Bank and they dont close the account when you go bancrupt

Thanks for all your advice and help

Rick

RichardRichard1234

Well i am now bankrupt.

I Dont know what i was worried about my day in court lasted 2 mins, The judge told me his role in the process and told me about the OR and sent me away.

I am now a file number. Happy to be a number lol

Thanks to everyone from MSE for Advice and forms

Rick