Hsbc basic account pre bankruptcy

vivki

Hi guys

Me and my husband are going bankrupt shortly. Hubby end of August and me at the end of September. We have opened a basic hsbc account each in readiness. But does anyone know if hsbc will close the account post bankruptcy? Also, if the account is kept open, how long us the OR likely to freeze the account for please?

National_Debtline

Hi vivki


It will be your bank's decision whether to allow you to keep your account post bankruptcy, so we won't be able to give you a definitive answer. You may want to contact them to find out if they have a policy on it.


You should expect the account to be frozen once the bank has been notified of your bankruptcy, if there's no money in the account (beyond what you need to cover your normal outgoings) the OR will not have an interest in the account. It will be down to HSBC to unfreeze the account or close it.


Best wishes


Susie
@natdebtline

vivki

Thanks. Are there any banks who do allow the account to be retained if it!!!8217;s a basic account?

MrLolly

Once the bankruptcy has been approved and you!!!8217;re officially bankrupt, go online and apply for Nationwide flexbasic. On their website it says: If you wish to open a FlexBasic account because you are being made bankrupt, you should wait until the bankruptcy order has been made before opening the account.

So obviously you shouldn!!!8217;t open it before hand.

In my opinion HSBC are not as insolvency friendly as some of the other banks. Snobbery comes to mind.

vivki

Thanks mrlolly. That!!!8217;s great advice

philnicandevan

MrLolly wrote: »

Once the bankruptcy has been approved and you!!!8217;re officially bankrupt, go online and apply for Nationwide flexbasic. On their website it says: If you wish to open a FlexBasic account because you are being made bankrupt, you should wait until the bankruptcy order has been made before opening the account.

So obviously you shouldn!!!8217;t open it before hand.

In my opinion HSBC are not as insolvency friendly as some of the other banks. Snobbery comes to mind.

NEVER known HSBC or Halifax offer bankrupts an account...miserable so & sos!



Others to bear in mind co-operative or Barclays..they offer basic no questions accounts.....recent legislation changed in goverment regards basic bank accounts so things after god knows how long are changing..all be a little slowly

PaulL2

Virgin allowed my basic account to stay open. I opened it a few months before bankruptcy. They are clunky (online banking almost non-existent) but worth a shot.

vivki

Thanks guys!