Bankruptcy and NHS Bursary

Mondayblues

Hi,

This is my first post. I am wondering if anyone can help please? I have looked through the existing threads so apologies if I have missed this info.

I have been advised (by a debt charity) to consider going bankrupt. I am a trainee Health Care Professional and I am due to get my NHS Bursary paid in to my bank account within (approximately) the last two weeks of September. The bursary gets paid quarterly and it is my only income.

The bursary can only be paid into a bank account in my name. Does anyone know how quickly bank accounts are frozen once you hand your bankruptcy petition in. I am worried that if the bursary gets paid in at the same time as the account is frozen, I will have nothing to live on until January 2014.

If I go bankrupt within the next few weeks will my bank account be frozen quite quickly? I am hoping someone will be able to help.

easygoingchap

Depends on our bank.

My coop account was frozen the day I went bankrupt but the account I get paid into wasn't frozen at all ( secure trust bank) .

I would open a new account before BR ( a bank you dont owe monies too and br friendly) and have your monies paid in to it

Mondayblues

Thanks for your reply. I don't owe any money to the bank I get my bursary paid in to. I just assumed all accounts would be frozen. I will look the 'Secure Trust Bank' up, thanks again

pauletruth

have you spoken to the professional body that your training towards. some are quite strict on what your conduct is like. most likely not an issue but check.

tigerfeet2006

Who do you bank with?

There are two BR friendly banks who offer normal non paying bank accounts that won't get frozen. Have a look at those before going for the paid for option. Read the sticky at the top of the board on bank accounts

https://forums.moneysavingexpert.com/discussion/3582093

Mondayblues

pauletruth wrote: »

have you spoken to the professional body that your training towards. some are quite strict on what your conduct is like. most likely not an issue but check.

Thanks for your reply, I contacted HCPC two days ago and thankfully they emailed me today and told me that bankruptcy would not effect my registration with them.

Thanks for the link tigerfeet2006, I will check all that info now. I bank with the Coventry Building Society. The guy at National Debtline told me that they are stand alone, and, I don't owe them any money so I am going to have to check if my account will still get frozen. I am guessing it will.