When are accounts frozen?

Need2Know_2

Thanks for all your rpelies yesterday, I do however have a decision to mkae regarding when we should be filing for bankruptcy.

I am a bit worried as we dont want our accounts frozen so we can not pay our bills, but we cant afford to wait till next month to make sure that is all clear before we declare BR.

So, when are your accounts frozen, is it on the day you declare yourself BR, or when you have your OR interview?

If we declared this week, but it wasnt frozen ill next month we would be ok, ibut if its on the day we declare we are not sure how bst to sort it all out as some things HAVE to be paid by DD.

Any help greatly appreciated.

tigerfeet2006

As soon as the Judge stamps the time and date on the order the account is no longer yours though it sometimes can take a few days for a bank to freeze an account.

I do know that some people have opened their Co-op accounts before BR and by keeping the bank informed have not had them frozen so everything has gone smoothly but that is not guaranteed. Though if they are you should only get a couple of days inconvinience while the OR faxes them.

BTW it is not the OR who freezes and closes accounts it is the banks them selves who don't want us naughty little bankrupts cluttering up their books as they can't make any money out of us!!!

Need2Know_2

Thankyou, so you think it may be beneficial to open the account prior to BR? and in that case we should mention it on our forms is that right?

Apparently my Husband has our local OR number so he is going to try and ring them and ask if thats ok, is it that not allowed?

tigerfeet2006

Opening accounts before BR is a matter of personal prefrence. You either take the risk or you don't it's up to you.

Give the OR a ring if you have their number some are more accomadating than others. Let us know how it goes.

tight_jock

As Tiger says, it`s not the OR who freezes the account but the bank when they receive notification.
We opened a basic account with Barclays before our date and transferred all DD over to that account. When we opened it, we told them that we were going BR and got a letter from them stating that the account would remain open .

However, it seems that most on here have used the Coop account. If you do that you need to get something in writing to say that your account will stay open

:beer:
TJ

Peter_Pan

We have a joint bank account with Natwest and OH went bankrupt two weeks ago, i have spoken to various different depts within the bank since when they have phoned about a review on our account (we are O/D ) and have informed them OH is bankrupt and they have confirmed that we can no longer hold an account with Natwest BUT i can still access it online and I'm sure the OR must have written to them by now.
Are they still keeping it open so they can keep adding charges:eek: because its a joint account and they can chase me for the money?

tight_jock

Peter_Pan wrote: »

We have a joint bank account with Natwest and OH went bankrupt two weeks ago, i have spoken to various different depts within the bank since when they have phoned about a review on our account (we are O/D ) and have informed them OH is bankrupt and they have confirmed that we can no longer hold an account with Natwest BUT i can still access it online and I'm sure the OR must have written to them by now.
Are they still keeping it open so they can keep adding charges:eek: because its a joint account and they can chase me for the money?

My own take on this is that I would get out of Natwest and get a basic account elsewhere for precisely the reasons you have stated

Peter_Pan

tight_jock wrote: »

My own take on this is that I would get out of Natwest and get a basic account elsewhere for precisely the reasons you have stated

Thanks we don't actually use the Natwest one now, thanks to this forum we did set up a Co Op account and have everything paid in there now. I was just curious that i could still access the old account , i was hoping they would freeze it and stop adding stupid charges on as i'm now liable for that debt.