Bankruptcy advice

Mahugsy

Hi, I’m about to file for bankruptcy but am just wondering if I need to print out bank statements and credit card statements to give to the OR or will he get access to these from banks? If accounts are frozen after filing how will It work. I use internet banking and have never printed statements so don’t have any! Hope this makes sense ! 

stanger66

I never bothered to print any statements and haven't been asked to.

Mahugsy

Thanks, appreciate you taking the time to answer my query 

SusieT

Do you have a basic account that is not connected to any of the debt? If your internet bank is connected or has an overdraft available you may need a different one that is bankrupt friendly.

RAS

Just making sure that you have taken free advice from one of the debt charities about going BR, as they should have told you that you need a bankruptcy friendly account with a group with whom you have no debt?

This account cannot offer an overdraft but will allow a cash card and DDs; see Bank Accounts After Bankruptcy. StepChange Free Advice

And that your debt is more than £30K. If not, do check out a DRO before filing for bankruptcy. 

Mahugsy

Hi, yes I’ve taken advice from Stepchange and have a basic account with Nationwide set up. I’ve just taken the big step and pressed the button this morning - feel very nervous about what’s to come but hopefully it’s the first step to getting back on track. Thanks for advice, really helpful to read other’s experiences.

RAS

Well done for taking the advice and the action.

Now try and relax a bit. You'll hear from the OR at some stage re your interview but they are generally very understanding.

The big thing is to make sure all your income goes into your new account and set up any DDs (don't forget to shift CT if you are eligible for the cost of living payments).

Best wishes for the future.

Mahugsy

Thank you so much- keeping my fingers crossed  🤞🏻