New Bank Account Mine or the OR's??

kw899899

HI if i open up a new bank account AFTER i am delclared bankrupt, do I have to declare it to the OR? and do i have to supply monthly statements etc every month??

thanks

fermi

From: What will happen to my bank account

at http://www.insolvency.gov.uk/guidanceleaflets/bankaccount/bankaccount.htm

Can I open a new bank account?

After the bankruptcy order, you may open a new bank or building society account, but you should tell them that you are bankrupt. It is for the bank or building society to decide whether they will let you operate a bank account, and they may impose conditions and limits. You should not get any overdraft or credit facilities without informing the bank or building society that you are bankrupt. You must not write cheques that are likely to ‘bounce’ (be dishonoured).
As a bankrupt you might find it difficult to open a new bank or building society account. Some banks may allow you to keep using your existing bank account after they have contacted the official receiver. If not, you may wish to apply for a 'basic bank account'. Information on which banks offer basic bank accounts to bankrupts may be found on the Financial Services Authority website at www.fsa.gov.uk. If your income only consists of benefit payments, state pensions and/or tax credit payments you may wish to open The Post Office card account. This is a very simple account that cannot be used to receive any other payments such as Housing Benefit, occupational pension benefits or wages. The account allows you to withdraw cash free of charge at any Post Office branch. This account may suit you if you want a simple account that will not let you go overdrawn or incur any charges. No credit checks will be carried out when you open this account. Further details can be found at www.postoffice.co.uk

Do I need to tell the official receiver or trustee about my new bank account?

You do not need to tell your official receiver or trustee about any new bank account opened after the date of the bankruptcy order unless you are asked for that information. You do need to tell the official receiver or trustee about any money in the account that is more than you need for reasonable living expenses. The official receiver or trustee can claim the surplus amounts, via an income payments order (IPO) or an income payments agreement (IPA), to pay your creditors. Your trustee may apply to court for an IPO, which requires you to make contributions towards the bankruptcy debts from your income. The court will not make an IPO if it would leave you without enough income to meet the reasonable domestic needs of you and your family. Or you may enter into a written agreement with your trustee, called an IPA, to pay a certain amount of your income to the trustee for an agreed period. IPOs and IPAs continue for a maximum of 3 years from the date the order is made by the court or the date of the written agreement. If you fail to cooperate, the trustee may intervene in the bank account

I hope this answers you question.