I can live with having no bank accounts

renegadefm

Just an hypothetical type of subject really, sorry if this sounds of an arogant nature or sarcastic, its not mean't to be.

Basically I was made bankrupt just yesterday, I can live without having a personal bank account, even though I'm told it shouldn't be a problem to have one with the Co op bank, but even if it came to the crunch of having to manage everything via someone elses account is fine with me especially if its my wifes, as money is just money to me, I've never been the type who likes to have 3 or 4 bank accounts and wear them like a badge if you know what I mean, really all that crap I can live without anyway.

My question is if the OR monitors your every move finacially and its via my wifes account lets just say for instance, surely the managing could be done by my wife if I ask her to anyway which wouldn't be a fair representation of monitoring the one who is bankrupt if you see what I mean, I would purely end up a puppet for 12 months, I can live with that, infact I could happily live the rest of my life like that.

But is there a catch?

cinnabar

The OR is unlikely to monitor your every financial move - they've got far too much other stuff to do! As long as you cooperate with them and declare everything you're obliged to, I doubt they're much interested in looking at how you manage your money, unless they have reason to suspect you've not been honest with them :-)

peachyprice

The OR doesn't monitor your bank account, they don't even ask for details of any that you open once you're BR.

They are interested in was was going on BEFORE that led to BR.

wherediditallgo

I think Rog has had his money go through his wife's account for a good while, so he'd be a good person to talk to on how he's managed.

devonsdreamer

All my money goes in OH account although I have got an account i just dont have any money to put in it- lol.

nuttyp

hi, my hubby uses my account, n the OR has not bothered about it as it has no OD or credit on it at all.


Good Luck with the BR

renegadefm

cinnabar wrote: »

The OR is unlikely to monitor your every financial move - they've got far too much other stuff to do! As long as you cooperate with them and declare everything you're obliged to, I doubt they're much interested in looking at how you manage your money, unless they have reason to suspect you've not been honest with them :-)

But I was lead to believe they monitor a person's account who is BR so that if they suddenly end up with thouands in the account the OR will take it, am I right?

maxmycardagain

renegadefm wrote: »

But I was lead to believe they monitor a person's account who is BR so that if they suddenly end up with thouands in the account the OR will take it, am I right?

if you were BR would you bank large amounts?....

renegadefm

maxmycardagain wrote: »

if you were BR would you bank large amounts?....

Well to be honest I was paying £777 a month on my debts, credit cards etc, I had hardly anything left to live on, so potentially I could save £9324 for the year I'm bankrupt, I'm just wondering if the OR will see this as a big amount and take it, as I am planning on saving what I was spending on my debts as I was used to paying it if you see what I mean, and then my plan was once I'm cleared of BR I have a great start to a new life.

Or is my plan all wrong?

fermi

A percentage of that surplus may be claimed in an Income Payments Agreement by the OR/Trustee. But what you do with the remainder after that is up to you.

renegadefm

fermi wrote: »

A percentage of that surplus may be claimed in an Income Payments Agreement by the OR/Trustee. But what you do with the remainder after that is up to you.

But bare in mind thats only if I potentially saved the exact same amount as I was paying out on my debts, it would seem then that its in my interest to try and spend virtually all I earn so to speak, like make sure the weekly groceries are a £120 a week instead of £80 for example.

Am I right?