Cash on hand when you go bankrupt

VelvetBrown

Hi, I assume all ORs/ examiners are different but mine let me keep the few hundred pounds I had in my basic bank account that was from my wages, however approximately £500 I had left in a building society account (after I'd drawn out £700 for the BR fees) was taken and the account closed as apparently bankrupts are only supposed to have one account.

My basic account with Barclays was never frozen, however my mobile banking was deactivated, I still have access online though.

Cobalt77

Whenever you are dealing with the OR, it all comes down to effort vs return.

Remember most ORs/staff all seem to have huge caseloads, and it can take them several days to respond to even quite basic queries. So, if you contact them to declare you've received a £50/£100 one-off bonus or windfall payment, they will usually thank you for informing them and then tell you to keep it - because they have very limited time and it's simply not worth them doing the paperwork. In fact, one chap here received £150 for opening a Yorkshire Bank account and the OR wasn't remotely interested in grabbing it.

However, once you start looking at (say) £500+ in excess of what you reasonable need as a daily living expenses buffer, the OR really has no option but to grab it - otherwise creditors would get seriously cheesed off, and the OR/Examiner risks getting a slap from higher up the food chain.