Access to accounts after Bankruptcy

15 Posts

Hi all, I have been browsing the forums for a little while now, and just wanted to get some specific answers to my situation.
It's looking likely that I should go the Bankruptcy route (50k debt, no appreciable assets and rent a property), just need to confirm this with one of the advice charities once I have all my figures together.
Have checked my employment, only glitch would be my security clearances, but they aren't a required part of my employment, so it should all be fine. However, for my job I do need access to a bank card to pay for parking (which can be quite hefty because of the places that I sometimes work). I can always claim this money back, but it takes a couple of weeks, but hardly any parking accepts cash now, so would need to be by card.
So my question is regarding bank accounts. I have a seperate bank account through Starling, which has no overdfrat facility and nothing is owed to them. I am now using this as my main account, to make sure all my essential bills are paid. A friend of mine went Bankrupt about 15 years ago (when you still had to attend court) and he says that all his accounts were immediately frozen and he then had to open a new account. His main account had no overdraft and he was in good standing with that particular bank. So I have read on here that if it's your main account, they will usually leave it open for you, have the rules changed on this then? Will my Starling account get frozen for a couple of days while they look at my accounts?
The other option I would have would be to load some money on a prepay card for use when parking, but if I do that, would that also be frozen by the OR?
I'm just basically trying to get my head around the timings of when I should declare.
Also, if I file in March, does that mean the income tax/council tax situation (where you don't pay any and just forwward on what you would pay to your IPA) would only last until the 5th April, or would it roll over to the financial year ending 2024.
Sorry for the essay, and many thanks in advance for any help.
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Usually if it's a basic account and used for your day to day living its not frozen but as I said it's up to the bank.
My son put me on his credit card as the statement/bill is solely in his name and I got a card in my name..he was responsible for this account and I used it purely for emergency.
Also check your car and contents insurance..my contents insurance was cancelled by the insurers but when I informed Aviva my insurance for car was fine
https://www.gov.uk/government/publications/guide-to-bankruptcy/guide-to-bankruptcy
Good luck with it all. I had a DRO a few years ago and that is similar to a bankruptcy so I know how intimidating it can all feel. But I came out at the other end. Older and much wiser about finances.
StepChange was the debt help agency that helped me - I hadn't even heard of a DRO before I contacted them.
[Edited as I forgot to put the link. Duh.
I have become bankrupt just last month and unfortunately all my current accounts ware frozen although OR sent letters to banks with request of keeping accounts open and that he is not interested in those accounts.
Same time just before I gone bankrupt I did call banks and inform them about my situation and ask if I will be able to use my account to receive wage and pay bills, they reply yes of course no problem as long u t in credit nothing to worry... Then bum all accounts frozen, fortunately I live with my girlfriend and I was able to transfer everything on her bank account forehand otherwise I would be without any money.
Please be careful with bank and don't trust what they say unless You have written confirmation.
Now I did opened basic account in Santander and putting everything in right place.
Ps You may consider temporary solution like Revolt or similar.