preparing for bankruptcy

acko83

i know there is no point paying unsecured creditors in the weeks before bankruptcy, but would you be ok to take your wages out and save them in the form of cash for the fees etc or would the OR want to know where they are? thanks for any help

sniggings

acko83 wrote: »

i know there is no point paying unsecured creditors in the weeks before bankruptcy, but would you be ok to take your wages out and save them in the form of cash for the fees etc or would the OR want to know where they are? thanks for any help

you need to pay fees so that isn't a problem,the OR will see your bank statements so if you save more than the fees then the OR will be asking where the rest of the money is.

Ineedaname

If you have a BR friendly bank account (Co-Op or Barclays) then there is no need to withdraw the cash until you need it to go BR, although with a cashpoint limit you may need to withdraw over a few days if you can't get to a branch.

The BR friendly accounts are not frozen as long as you inform the bank of your impending BR and notify on your BR forms that this is your day to day living account, then just call the bank after you have gone BR to confirm the date.