Money im owed and the OR.....

maxmycardagain

On "D" day (or BR day), if im owed any monies by the late payers I seemed to attract having done work for, what happens to the incoming funds?

it wont be much at this rate, maybe £300 (ish), thats WHEN they cough up, knowing my luck they will hear im BR as soon as i walk out the court and think they neednt pay.

i wont have any regular income so a IPA thingy isnt likely, i may even be unemployed by then

Richard_S

Hi Max,

It's only like a salary or wage being due at the end of the month. If you're self employed then there may well be a section for money owed to you, so put the amount in there.

You'll need it for essential expenditure so presumably the O.R won't touch it. All you'll need to do is make sure you've got a bank account to pay it into.

Regards

Richard

maxmycardagain

the bank account situation............

if i am made BR, then go straight round to open an account, do i have to say im BR?

if i dont have it at the time of going BR i cant have to tell the OR obviously, but banking any incoming cheque would be a nightmare, actually having an overdue payment and nowhere to bank it....

betterlatethannever

Yes Max, you must tell them your BR,

Richard_S

Hi Max,

When you open any bank account one of the questions is "have you ever been declared bankrupt"? That's why there's a limit to the number of bank accounts available to bankrupts.

I had my salary paid into one of our daughters bank accounts and waited until we were declared bankrupt before applying for a new account. We went the day after and were accepted in branch by Nationwide and then got confirmation from Barclays about a week later.

Other people have opened a new account prior to bankruptcy and there aren't usually any problems in being able to use the accounts post bankruptcy, provided it's with one of the banks who accept bankrupts.

Richard

maxmycardagain

payments by bank transfer can go anywhere, its having your name on a cheque and only a frozen account that may be the problem.

still, we shall see....