When is the best time to open basic bank account when thinking of going Bankrupt?

Paulalfc

Hi All

Can any one tell me when is the best time to open a basic bank account when you're looking to go bankrupt?. Is it best to do it before you declare yourself bankrupt or afterwards?.

I'm asking this on behalf of a relative.

Thanks for any information and answers in advance.

iquit

I opened my co-op cashminder the day I went br, this was so I could set up my pay and direct debit payments so as to avoid my account being frozen waiting for OR release. Told the co-op I'd filed that day and they were very helpful. hth

Ineedaname

I opened mine about 4 weeks prior to going BR there was time to transfer all DD and SO payments and have the account fully up and running.

SurreyLass1

I opened mine about 3 weeks prior to going BR - I transferred payments due into it, and clearly stated on my forms that it was to be used post BR as my main bank account - it was not frozen, and i worked out really well, as to me it meant I didnt have anything else to worry about on the day itself, just court.

dojoman

Opened my Cashminder 10 weeks before going BR, by the time I went BR all my DD`s, SO`s and incomes were going in out of the account.

foolishboy

Co-Op account opened an hour after going BR, was advised by several people including OR to do this as it can make things simpler.

FB