Frozen bank account

mwarby

IMHO you are probably best getting an account where you havent had debt included in bankruptcy. Bankruptcy does protect you from the creditors setting of or similar, but the bank may not want to ever grant you credit in future. If you go to a new bank its more of a fresh start and you can build a postive internal conduct history with them, which may help once your credit file clears up in 6 years

Minkym00

Ok the OR def does NOT inform the banks that you are bankrupt. They DO write to them to say that they are not (or otherwise) interested in them. This is for the simple fact that they are already frozen, and is not a notification.  

Think about it. If they notify the banks because you put the details on the application form then you could just omit one and stash some cash in there. Also don’t forget those bankrupts who are made bankrupt by a creditor and then just refuse to engage with the OR. It’s a failsafe that the banks act to freeze accounts before the OR has had a chance to investigate. 

mwarby

I'm fairly sure the banks will know within hours(or next day at least) of your name going on to the insolvency register, either directly or through the credit reference agencies

Samirish

So here is my recent experience, my OR wrote to my bank(s) on the 14 Feb (2 days after going BR) stating that a BR order was made against me on the 12 Feb and that they agree the continued use of the account.  Today one of my accounts was frozen, they have frozen it as my name is on the Insolvency Register NOT because of the OR letter (they haven't even read the OR letter yet!). They have asked that the OR fax a copy of the letter (who even uses a fax these days) and they will then unfreeze the account.  

BigMac68

I am preparing to go bankrupt - once I have saved the fee - and I have already opened an new bank account with the Coop and moved my salary there and all of the essential direct debits. If once I get paid i press the button on the application - and there is money in the coop account (to pay for the essential dd's - rent elec council tax) will this money be taken by the OR as part of my estate ? If so do I need to time it so that my DD's have all gone out and there is a minimum balance on this new basic account ? Really appreciate anyone's input - thanks

Samirish

I think you have to start your own thread if you want help/advice as it gets confusing when you ask questions on someone else's thread.