Went bancrupt today - what will happen to my bank account?

goldy

I went bancrupt today - feel pretty crap about it.

I am now confused about what to do about my bank account.

I have a basic nationwide account and the judge warned me that I should tell them about the bancrupcy as they would be told anyway.

I rang up nationwide customer services and they told me if I went into a branch and asked them to ask the OR if I if was ok to keep my bank account then I could keep it open.

So I went into the branch and told them what they needed to do.

They have just rung me back and said that the OR office said it wouldn't be frozen until they contacted me and then they would let me know if it would be frozen or not.So no definite answer.

I am now left in a state of not knowing what to do for the best. I have a couple of direct debits due to come out in a couple of weeks and I also need to know where to pay my next wage into.

I do have a coop basic account that has not been used that I opened up at the same time as my nationwide one , just in case. Do you think it would be safe to use that?

Feeling depressed and emotional.

Thanks.

rog2

I would advise you to take ALL cash out of the Nationwide ASAP. If you are in receipt of benefits, which are paid into that account, please contact benefit agency and either arrange for a Giro (they don't like this, but will do it for a short term if you insist) or have them paid into the account of a family member who is not financially associated with you.
Then wait until the OR and the Banks have decided whether they will freeze the accounts.

goldy

Thanks, Rog.

My main worry is where to pay my wage into .

I can always cancel the direct debits because one of them is for community charge and I could down to the housing office to pay that this month.

Think I might just cancel my DD's as I don't want to end up with loads of banks charges when they bounce.

definitelydrowning

I am having a nightmare with Nationwide as my OR insisted that my basic account had to be closed, so I opened a new savings account and nearly two weeks later and still trying to get the money transfered (even though OR has faxed them twice). I am waiting for my coop account to be opened then will take great pleasure in telling them to stick their account (OH has said he will do the same with his account, but then he'll need to as he's gonna try to get his bank charges back from them)

goldy

Hi definitely drowning.

Sorry to hear that. My local branch is rubbish as the counter assistants deal with all the enquiries and it is hit and miss as to whether they have come across certain problems.

My blood pressure was sky high this morning as I had to shout through the security window about the morning events with a massive queue of people standing behind me.

definitelydrowning

I know what you mean, I ended up leaving my local branch in tears and feeling like I was less of a human as I was BR, they were really rude to me and said they couldn't help at the time as they had to go on their lunches :mad: , and when I called the customer service line they said it wasn't their problem and I should go to the branch and speak to them.

wherediditallgo

goldy wrote: »

Think I might just cancel my DD's as I don't want to end up with loads of banks charges when they bounce.

That's what I did, for the same reason. I'd sooner have the utilities be late by a few days & have to go to the post office or another bank with cash to pay them over the counter than risk charges for them not going through.

rog2

goldy wrote: »

My main worry is where to pay my wage into .

Do you have a family member, parent or trusted friend who will let you have your wages paid into their account? It shouldn't take too long to sort out whether or not the Nationwide will 'freeze' your account, once you have had your OR meeting - usually within 2-3 weeks.

goldy

Some people veiw going bancrupt as a new start and maybe it is.

To me it just feels like hitting rock bottom and I have done that a few times already over the last 7 years.

Basically, most people view us as leapers, even if they would say so to our faces.

I'm desperately trying to feel positive but I just can't. I know I have to keep a grip on things though and see it all through now for my kids. I went into work this afternoon and just locked myself away - didn't feel very sociable.

I knew deep down it would be complicated but I was just hoping someone could have given me a decision on my bank account now.

goldy

Wherediditallgo : yes, it's probably worth the extra hassle for peace of mind.


Rog: I do have a friend who I could trust completely who would let me pay it into his account and the other thing is to pay it into my son's building society savings account. Do you think that is a possibility?

Richard_S

goldy wrote: »

Some people veiw going bancrupt as a new start and maybe it is.It is Goldy, it takes time to sink in; just give yourself a little time

To me it just feels like hitting rock bottom and I have done that a few times already over the last 7 years.it might be bottom but that only leaves one way to go

Basically, most people view us as leapers, even if they would say so to our faces.someone can only look down on you with your permission. You have as much right to be on this planet as anybody else

I'm desperately trying to feel positive but I just can't. I know I have to keep a grip on things though and see it all through now for my kids. I went into work this afternoon and just locked myself awaythat'll pass, it's a traumatic experience and it take it's toll but it does pass and you will realise that you do indeed have the chance to make a new start. - didn't feel very sociable.

I knew deep down it would be complicated but I was just hoping someone could have given me a decision on my bank account now.

Goldy,

Only had chance for a couple of quick comments but we've all been where you are now and it will get better; much better.

Rich