What happens AFTER bankruptcy??

kw899899

Hi can anyone tell me what happens afteer you are declared bankrupt. i know the OR obviously checks out all your info you have given. Is that it? Do you need to send in your current bank statements ie) money made after you are bankrupt or wag slips? or does the Or control your bank account anyways?
if anyone has been discharged as a bankrupt what else do have to do? any more interviews or such?

all help is really appreciated!

allofadither

Hi,

Once you have been made BR the OR will make contact (either on the day or soon after) and will tell you what you need to send in the way of paperwork...usually the last 12 months bank and CC statements, loan agreements, that kind of thing. But don't panic if you don't have them because the OR can get all they need direct from the relevant banks.

The bank may freeze any accounts you have, so you should make sure you open a new basic bank account to deal with your day to day living expenses and pay wages into etc. If you tell the OR about this account he will ask the bank not to freeze it.

You will have either a face to face or telephone interview, the OR will inform which it's going to be. No hard and fast rules about which one you get, pros and cons for both. As far as I'm aware there is only one interview, but I guess if they have a boat load of new questions or you don't co-operate they may request another.

Have a look at the BCSC website...I'll find a link in a mo.

How soon are you planning to go BR or have you just done it?

Red1708

It really depends on the individual OR. I didn't have to send any wages slips or bank statements but then the OR can get all this information himself. although the OR doesnt actually have control of your bank account you do have to submit a further report before discharge and you have a LEGAL responsibility to inform the OR of any changes in your financial circumstances within 21 days of them happening.

allofadither

Here is the link...it might help to answer some questions for you

http://www.bankruptcysupportersclub.co.uk/default.aspx