Bankruptcy on Thursday n so confused !

National_Debtline

Hi all

Just some caveats to add here:

The OR reserves the right to investigate the monies placed into such an account, and may do so if he/she has reason to believe those payments are excessive, or if they feel the bankrupt has effectively been "laundering" money through that account.

And no, before you ask, there isn't a magic exact figure above which anything is considered excessive!

It's unlikely that the bankrupt would be able to specifically budget for further contributions into the account during the BR, as pocket money is not classed as an allowable expense.

Regards

Dennis @NDL

nervousandready

National_Debtline wrote: »

Hi all

Just some caveats to add here:

The OR reserves the right to investigate the monies placed into such an account, and may do so if he/she has reason to believe those payments are excessive, or if they feel the bankrupt has effectively been "laundering" money through that account.

And no, before you ask, there isn't a magic exact figure above which anything is considered excessive!

It's unlikely that the bankrupt would be able to specifically budget for further contributions into the account during the BR, as pocket money is not classed as an allowable expense.

Regards

Dennis @NDL

Thanks for the clarification - the amount transferred is just less that £1k and represents 12plus years of birthday, Xmas and pocket money. It's definitely his money.

tigerfeet2006

Just as an aside on the board we have found that Halifax are extremely anti-BR and will close any account belonging to or associated with a BR.

Most other banks are a lot more accommdating and will leave children's accounts alone.

nervousandready

Hi Little Miss Worried,
Just wanted to say that I'm thinking of you for tomorrow - I'm going on Friday. Hope it's not too awful and, well, just hoping you will be OK