Bankruptcy help!

bery_451

so all this notices and timescales will give me a chance to withdraw my money before my account is frozen, im i right?

what it i convert my money into traveller cheques or a prepaid card or a bankers draft. will creditors able to freeze these?

thanks,

tigerfeet2006

bery_451 wrote: »

so all this notices and timescales will give me a chance to withdraw my money before my account is frozen, im i right?

what it i convert my money into traveller cheques or a prepaid card or a bankers draft. will creditors able to freeze these?

thanks,

You don't have to turn your money into anything, it is your money to live on. You might want to open one of the accounts that is friendly to BR's (see the sticky at the top of the forum.)

You will know if a creditor is to make you BR and to be honest unless you owe lots of money it is unlikly they will make you BR. It costs them up to £1700 to make someone BR and unless they think they will get any money back they won't do it.

When you go BR you are allowed reasonable costs to live on and if after all that you have over £100 surplus a month then you will pay a percentage of that to the Official Reciever who will divide it between your creditors. They will not go taking money willy nilly.

Please get in touch with one of the FREE debt charities in my signature. They will be able to help you deal with these people.

bery_451

tigerfeet2006 wrote: »

You don't have to turn your money into anything, it is your money to live on. You might want to open one of the accounts that is friendly to BR's (see the sticky at the top of the forum.)

You will know if a creditor is to make you BR and to be honest unless you owe lots of money it is unlikly they will make you BR. It costs them up to £1700 to make someone BR and unless they think they will get any money back they won't do it.

When you go BR you are allowed reasonable costs to live on and if after all that you have over £100 surplus a month then you will pay a percentage of that to the Official Reciever who will divide it between your creditors. They will not go taking money willy nilly.

Please get in touch with one of the FREE debt charities in my signature. They will be able to help you deal with these people.

many thanks, so the bank accounts friendly to BR's mentioned in the sticky will not be frozen when you are made bankrupt?

fermi

bery_451 wrote: »

many thanks, so the bank accounts friendly to BR's mentioned in the sticky will not be frozen when you are made bankrupt?

Often no. Even if they are it's normally just for a few days until the bank can get official permission to keep the account running.

Please talk to National Debtline (or one of the others in my signature below).

They can talk you through your situation and help you deal with it.

bery_451

fermi wrote: »

Often no. Even if they are it's normally just for a few days until the bank can get official permission to keep the account running.

Please talk to National Debtline (or one of the others in my signature below).

They can talk you through your situation and help you deal with it.

reading the posts i dont think im bankrupt.

can i still apply for a bankruptcy bank account. or do i have to be bankrupt to get one?

stubie

bery_451 wrote: »

does the bank account freeze straight away once your bankrupt or is it a few days/weeks after notification?

It took 2 weeks for mine to get frozen & I can still access all my account online?

As for the bank account, you can apply before or after BR.

Stubie

tigerfeet2006

stubie wrote: »

It took 2 weeks for mine to get frozen & I can still access all my account online?

As for the bank account, you can apply before or after BR.

Stubie

Stubie even if the account is not frozen you shouldn't be using it without express permission from the OR.

And yes you can get an account before or after BR.

bery_451

tigerfeet2006 wrote: »

Stubie even if the account is not frozen you shouldn't be using it without express permission from the OR.

And yes you can get an account before or after BR.

an account open before bankruptcy will be frozen?

tigerfeet2006

bery_451 wrote: »

an account open before bankruptcy will be frozen?

Yes it will. If it is a normal account you will loose it all together. If it is a BR friendly one then it will be opened again with a note from the OR, usually takes a couple days. Though there has been some on here who have managed to keep their BR accounts open by keeping them informed of every step along the way.

Have you phoned one of the debt charities yet to help you sort out your finances?

bery_451

tigerfeet2006 wrote: »

Yes it will. If it is a normal account you will loose it all together. If it is a BR friendly one then it will be opened again with a note from the OR, usually takes a couple days. Though there has been some on here who have managed to keep their BR accounts open by keeping them informed of every step along the way.

Have you phoned one of the debt charities yet to help you sort out your finances?

yeah i set up an appointment shortly after the new year with my CAB. thanks for advise.

just to be on the safe side can OR freeze prepaid cards, travellers cheques, bankers draft etc? Best to be safe than sorry.