What Do I Do?

fermi

You declare what information you have. When you are provided with further information then you can inform the OR of that if/when you receive it.

maxmycardagain

fermi wrote: »

You declare what information you have. When you are provided with further information then you can inform the OR of that if/when you receive it.

which is exactly what would be done

the OR can then chase nationwide for details and latest balance(s) and demand its all sent to them

fermi

It is the OR/trustee's job to administer your former affairs and assets.

This is useful to read:: Guide to Bankruptcy

And this: Who are the Insolvency Service and Official Receiver.

inovermyhead

Guys, I am really confused. Most of the posts on here, as well advice I've been given by NDL have said that the OR does not frown upon you withdrawing cash before BR to cover the court costs and living expenses while getting established in the first month. Is this not the case??

peachyprice

It really depends on how much you are talking about, as long as it's an amount that covers your BR fees and reasonable living costs for the next month it's fine.

When we went BR last month we I got paid a week before, we took all my salary out except that needed to pay DD's. Mr P. got paid the day after BR, and again, with the permission of our OR we took out everthing, leaving enough to cover the rest of the DD's.

It's only if you have thousands sitting there that is quite clearly beyond any amount necessary for living expenses over the following month that the OR will have an interest in it.

On the forms there is a box to tick if an bank account is your living expenses account, this is the account the OR will declare no interest in and will release back to you.

HTH

fermi

inovermyhead wrote: »

Guys, I am really confused. Most of the posts on here, as well advice I've been given by NDL have said that the OR does not frown upon you withdrawing cash before BR to cover the court costs and living expenses while getting established in the first month. Is this not the case??

That is perfectly correct.

Unfortunately some people seem to think it is OK to abuse this in order to hide funds and assets from the OR. If the OR thinks you are trying to do that, then they will make you account for every penny.

If they are funds you genuinely need than it should be just fine.

Waspeze

Before I went BR I withdrew about £800 cash from my account (partly to go BR and some for living, food, petrol etc) left about £200 in there, when I went BR told the OR what i'd done and he said he'd release the other £200 for me as well.

nuttyp

hi, before i went BR i started a little 'nest egg'at home, ina very secret place!!!!!!!! I managed to save a couple of hundred pounds up. When iwent BR i told the OR i had it at home in cash and she just said was it for living expenses/emergencys and i said yes.

It was allowed but i felt really awful saying i had got some cash. I felt like millionaire on the BR day. I owed nothing by the afternoon and for the first time in years I HAD SAVINGS!!!!

HONESTY is the best policy, the OR has ways of finding out where MISSING money is.

nomunny

Thanks for your answers everyone, yes honesty is the best policy, I agree and I will be upfront with the OR.

I will have about £1000 in the Nationwide (if the A/C gets opened), so if I withdraw about, say, £800 and declare that to the OR, hopefully they may be sympathetic to me? Do you think I should do that?