Is it better to sort a bank account before or after declaring BR?

TheGardener

I know its out of date - but perhaps Fermi could update it? - its one of Fermis posts, not a link to the IS and is one of the first bits of advice one reads in 'More about Bank Accounts' when you look at the stickies as we are all directed to do. If it were upto date it might help folk and prevent confusion?

dojoman

But if peeps read the stickies, the info regarding banks is already there in one of its own threads, and was updated last year in September.

alastairq

Perhaps what is needed is a simple, one-touch advice stickie on what to do prior to the Petition?

Much of the confusion probably stems from misunderstanding what is actually contained in the stickies, since they currently need to state the precise wording/rules of the IS, and the Law.

However, there is a danger of generalisation itself being misinterpreted.

I think what fermi and others are aware of, is the danger of someone coming unstuck through misinterpretation, and claiming, ''but you said...blah blah!''

If we get this sort of misinterpretation over something as simple as 'who owns a car'...and being the 'Registered Keeper,' then trying to give chapter & verse on bank accounts in bankruptcy is bound to be a nightmare.

TheGardener

http://forums.moneysavingexpert.com/showthread.html?t=1639655

Its here

TheGardener

dojoman wrote: »

But if peeps read the stickies, the info regarding banks is already there in one of its own threads, and was updated last year in September.

That is the link I followed - the updated one.

alastairq

WHILE IT IS POSSIBLE TO CONTINUE USING AN ACCOUNT OPENED PRIOR TO BANKRUPTCY IF BOTH THE BANK AND OFFICIAL RECEIVER COOPERATE, IT IS STILL POSSIBLE THAT THE ACCOUNT MAY BE FROZEN FOR A SHORT WHILE. IN ADDITION, THE LETTER OF THE LAW STATES THAT YOU SHOULD NOT CONTINUE TO USE ANY PRE-BANKRUPTCY ACCOUNT UNTIL YOU HAVE PERMISSION FROM THE OFFICIAL RECEIVER.

The bit in red is the bit which could give a problem.

And the problem being, proffering advice from a semi-official standpoint, [ie, one with credibility] which takes no account of what the LAW actually says.