Bank Accounts after Bankruptcy?

andyf1980

999mph wrote: »

Hope you had a lovely Christmas!

I just started filling out the forms.
In form 6.28 Section 5, I don't think have an accurate breakdown to the monies owed to each and every creditor. I entered an IVA about 2 years ago and have been making payments on there for about a year or so. I suppose I could go with the original figures declared at the time.

And then there's the question about the names of the tenants. I don't own a property, I am renting a room. I do know all the tenants by their firstnames but just not their surnames. It'll be awkward asking around for their surname even if I tell them what its about. So is that really necessary? I don't think you need to tell them the name of other people in the property; it's only if you are in a tenancy agreement with them.

I also noticed that a question where I have been asked about the previous addresses where I had accumilated debt. Is there a chance of these previous addresses being notified after the BR? They won't be notified but it will be mentioned on the insolvency service database and in the London Gazette. I think it's so any creditors can trace you.

And there's this small bit on Form 6.27 1f. Since I am unemployed and haven't been self-employed how should I answer that question? The question mentions something about "The centre of main interests being in England and Wales/having an established in England and Wales etc. Can't remember about this sorry.

Going back to the process of declaring BR, how does it go? I am in London.
After I get my Cashminder account, do I ask the Smile/Coop Bank to transfer everything over to the Cashminder account or will I have to withdraw any money in the account, cancel direct debits etc and notify Housing Benefits and JSA to change the account details over to the new account? And if the process takes time, how can I prevent the money being sent to my Smile Account in the meantime? I opened my cashminder account and did the transfer myself. The council would have sent me a cheque if necessary but it didn't take them long to change the account details over. The job centre did the same although they said I would have to get special authority to get benefits by giro. Again, they were quick at changing the details over. Ditto for the direct debits - I just found it easier knowing I'd sorted it out myself.

Also will I have to tell my OR about my travel intentions? And will I have to keep him/her informed on a regular basis of my progress, income and so forth? I think you would have to tell them as they may need to contact you. They seem to say that information needs to be provided within X number of days. Any chnages in income need to be motified to the OR within 21 days.

Is the BR process as straightforward as walking in, paying the money, handing the form and getting it all done within the day? And can I pay them with my Smile Debit card or cheque or will it have to be cash? Depends on which court you use - best to give them a ring and check as some don't have a walk in service. You need to pay in cash.

I know that's a lot of question for a Sunday

Thanks ever so much.

Hope that helps.

999mph

It does indeed. Thank you so much

debtinfo

the centre of main interest question, this is just asking if you have been living and working in england or wales for the last 6 months at least

999mph

Got my Cashminder account I was getting a little concerned about the delay.

I started changing my benefits payments & Direct Debits over to the new account.

Would it also be ok to start using my Cashminder account as normal immediately or should I wait until the BR to do that?

Also I am curious about how nosy the OR would be once I enter the BR. Do they call you regularly or can it be arranged for me to call them? Do they visit, ask for bank statements, receipts, check what's in the kitchen etc?

Also what happens when I eventually become self-employed with regards to the BR? Are they going to ask me to pay a monthly contribution as I have done on the IVA?

Cheers.

999mph

Also if I file in a form ex160 at the time of filing for a BR will my fee be adjusted to £450 or will I have to put in the whole £600 and then file for a rebate after?

fiveyearplan

You can start using your Coop account now but I would advise leaving the balance close to £0 on the date of your BR just in case. I opened my account and was using it for several months before my BR.

If you are on benefits and fill in the form, the amount is deducted from what you have to pay - there aren't any rebates.

999mph

So using my Cashminder as normal shouldn't be any problem then?

Since I'll have my benefits paid into my Cashminder account I suppose I would have to set up my direct debits, do other withdrawals from there too. Wouldn't the Court or the bank be concerned about the fact that I had fully utilized the Cashminder account well before the BR (even if I do leave the balance at a near zero on the day of the BR)?

Cheers.

andyf1980

999mph wrote: »

Also if I file in a form ex160 at the time of filing for a BR will my fee be adjusted to £450 or will I have to put in the whole £600 and then file for a rebate after?

Just make sure you provide all the information. They were exceptionally anal with me as I was on contribution based JSA and not income based.

I ended up having to pay the full amount and reclaim.

alastairq

999mph wrote: »

So using my Cashminder as normal shouldn't be any problem then?

Since I'll have my benefits paid into my Cashminder account I suppose I would have to set up my direct debits, do other withdrawals from there too. Wouldn't the Court or the bank be concerned about the fact that I had fully utilized the Cashminder account well before the BR (even if I do leave the balance at a near zero on the day of the BR)?

Cheers.

NO, neither the Court, nor the OR will be concerned over usage.
I detect some misconception here about what goes on with bank accounts, the OR and BR.

You have a basic bank account [ie no access to credit facilities, unlike a normal current account with a cheque book].

You will be asked at the Court, by the OR's rep, what accounts you have, and what you use them for.

The OR will have no interest in accounts used for day-to-day domestic usage.

Most banks don't like BRs, so tend to close or freeze accounts.....Co-op are not one of those.

Once you talk initially with the OR , it is likely the OR will not declare an interest in the contents of the account. [if there are several thousands sitting there, the OR may freeze an account pending investigations into the moneys...]

They recognise you have to live, after all.

I had two Co-op accounts running pre-BR....no problems at all.

It is not anybody's intention to punish you, or make life difficult.