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Filing bankruptcy and overseas bank accounts.

edited 30 November -1 at 1:00AM in Bankruptcy & Living With It
6 replies 3.4K views
ian360ian360 Forumite
68 posts
edited 30 November -1 at 1:00AM in Bankruptcy & Living With It
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

Replies

  • Richard_SRichard_S Forumite
    4.4K posts
    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
  • ian360ian360 Forumite
    68 posts
    Thanks for responding. In addition, do you know if they will also freeze my online PayPal account?

    Thank you.
  • Richard_SRichard_S Forumite
    4.4K posts
    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
  • ian360ian360 Forumite
    68 posts
    Ah that is good news, as most of my clients pay me on PayPal... And of course there is no money in it... :rolleyes:

    Thanks for the advice guys...
  • What about if I have account in Singapore? Will they find out I own an account in Singapore?
  • diggingdudediggingdude Forumite
    2K posts
    1,000 Posts Second Anniversary Name Dropper Photogenic
    ✭✭✭✭
    maybe create your own post rather than commenting on something from 10 years ago
    House owner as of 27.3.2019 :j
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