Filing bankruptcy and overseas bank accounts.

ian360 · 14 January 2008 at 1:12AM

Hello again guys,

This is probably a very simple question - but once a bankruptcy has been filed, is it possible for them to freeze any international accounts in addition to my UK accounts? I ask because I also have a bank account here in Costa Rica and one in Australia (even though they both have nothing more than £20 in them). If they are also to be frozen during the bankruptcy, I will need to make alternative arrangements.

Thank you in advance...

Ian

Richard_S · 14 January 2008 at 3:53PM

Hi Ian,

The Insolvency Service has various agreements with other countries regarding bankruptcy, but to the best of my knowledge that only relates to the disposal of assets, and is predominantly with European countries.

I would say the chances of your accounts being frozen in another country to be somewhere between negligible and nil. They even manage to miss bank accounts held by bankrupts in this country.

Richard

ian360 · 14 January 2008 at 5:55PM

Thanks for responding. In addition, do you know if they will also freeze my online PayPal account?

Thank you.

Richard_S · 14 January 2008 at 6:09PM

ian360 wrote: »

Thanks for responding. In addition, do you know if they will also freeze my online PayPal account?

Thank you.

Hi ian,

I would doubt whether there's any money in your PayPal account.;)

Ebay and Paypal are very strict about their customer's privacy and you have to give the O.R permission to see the details of your account. It's not the O.R who freezes bank accounts, it's the bank, and I would very much doubt whether PayPal would freeze your account unless there was evidence of fraud.

I don't recall any body else saying that their PayPal account had been frozen, and there are a number of posters on here who use Ebay.

Richard