Bank Account Question

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

mwarby

As long as not lots of money in there you’ll be fine I think. Having enough to cover bills till next payday won’t be an issue, having enough to live off for a few months would be

of course the bank will need confirmation from the OR that they have no interest in the money, so it maybe frozen for a short period while this is sorted. Having enough cash to last a week or 2 is a good idea