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  • FIRST POST
    • realgonekid
    • By realgonekid 6th Aug 18, 8:24 PM
    • 44Posts
    • 15Thanks
    realgonekid
    Bankruptcy & third party bank accounts
    • #1
    • 6th Aug 18, 8:24 PM
    Bankruptcy & third party bank accounts 6th Aug 18 at 8:24 PM
    Just a quick one....

    If your made bankrupt and they want to see want to see your bank statements how does that work if you have been using a third parties account (a very close friends) and your own account has not been used for quite sometime. I have no issue them seeing my own and any that I have closer but can they demand and can you be forced to let them see someone elses.....
Page 1
    • TheGardener
    • By TheGardener 6th Aug 18, 9:16 PM
    • 2,444 Posts
    • 2,375 Thanks
    TheGardener
    • #2
    • 6th Aug 18, 9:16 PM
    • #2
    • 6th Aug 18, 9:16 PM
    It will be about proving your income - pay slips, paying-in receipts/slips, a bank statement with all the other transactions redacted...?
    You need your own bank account sharpish - get something like a Barclays Basic (if you don't owe Barclays bank money)
    • realgonekid
    • By realgonekid 6th Aug 18, 9:40 PM
    • 44 Posts
    • 15 Thanks
    realgonekid
    • #3
    • 6th Aug 18, 9:40 PM
    • #3
    • 6th Aug 18, 9:40 PM
    I will be opening a Yorkshire building society transactor account if/when I do the deed
    • realgonekid
    • By realgonekid 7th Aug 18, 10:45 AM
    • 44 Posts
    • 15 Thanks
    realgonekid
    • #4
    • 7th Aug 18, 10:45 AM
    • #4
    • 7th Aug 18, 10:45 AM
    Does anyone know if the OR can demand access to third party accounts though?
    • TheGardener
    • By TheGardener 7th Aug 18, 12:59 PM
    • 2,444 Posts
    • 2,375 Thanks
    TheGardener
    • #5
    • 7th Aug 18, 12:59 PM
    • #5
    • 7th Aug 18, 12:59 PM
    I don't know. At the end of the day what the OR needs to do is see evidence of what your income is and whether you have any assets. If they believe you have assets in someone else's account - I have no doubt that they will have the power to approach the bank and ask for details.

    If you want to protect your 'close friend' then open your own account asap and be prepared to be cooperative and to answer all the questions the OR puts to you.

    What is your friends view on this? Is your friends bank happy to allow you to 'share' the account - has your friend checked they are not breaching the terms and conditions of their account?
    • realgonekid
    • By realgonekid 8th Aug 18, 10:08 AM
    • 44 Posts
    • 15 Thanks
    realgonekid
    • #6
    • 8th Aug 18, 10:08 AM
    • #6
    • 8th Aug 18, 10:08 AM
    I don't have any assets in their account. The bank obvs don't know.i am opening an account tommorrow. I guess I am just looking for a definitive answer
    • realgonekid
    • By realgonekid 8th Aug 18, 10:18 AM
    • 44 Posts
    • 15 Thanks
    realgonekid
    • #7
    • 8th Aug 18, 10:18 AM
    • #7
    • 8th Aug 18, 10:18 AM
    In addition my friend was not bothered as they opened a separate account for me. Yorkshire building society is the way to go it seems
    • Kimberley
    • By Kimberley 8th Aug 18, 11:30 AM
    • 13,401 Posts
    • 20,356 Thanks
    Kimberley
    • #8
    • 8th Aug 18, 11:30 AM
    • #8
    • 8th Aug 18, 11:30 AM
    Sorry for hijacking this thread but have been trying to open a basic bank account but the banks just say I cannot whilst i have a current account.
    • exlews
    • By exlews 8th Aug 18, 12:12 PM
    • 10 Posts
    • 3 Thanks
    exlews
    • #9
    • 8th Aug 18, 12:12 PM
    • #9
    • 8th Aug 18, 12:12 PM
    I have a couple of current accounts and have recently opened a basic account at TSB. I told them I was thinking about going bankrupt. I had to go into branch as the website was being upgraded. Give them a go.
    • Kimberley
    • By Kimberley 29th Aug 18, 10:22 AM
    • 13,401 Posts
    • 20,356 Thanks
    Kimberley
    I have a couple of current accounts and have recently opened a basic account at TSB. I told them I was thinking about going bankrupt. I had to go into branch as the website was being upgraded. Give them a go.
    Originally posted by exlews
    I can’t as I have a Credit Card with them. I tried Nationwide but they said you can’t open a basic account whilst you have a current account with soneone else.

    I am struggling to open one. It means I have to wait until after I apply for BR and risk Natwest taking my wages to pay for the overdraft and CC I have with them when the account is frozen because then my DD will not get paid
    • utterly ashamed
    • By utterly ashamed 29th Aug 18, 4:16 PM
    • 53 Posts
    • 21 Thanks
    utterly ashamed
    Canít you withdraw your money from your Natwest account before you press the BR button?

    You will need money to live off of etc whilst your accounts are frozen.

    Have you cancelled the direct debit for the CC ?
    • Twubble
    • By Twubble 29th Aug 18, 4:22 PM
    • 59 Posts
    • 13 Thanks
    Twubble
    Can't you open a current account with Nationwide? I have a normal current account, but the overdraft facility isn't activated. I had it before I took out my DRO, and when I went in and asked, they said it was fine to just keep it. Worth seeing if you can open a normal, just above basic, current account,
  • National Debtline
    Hi Kimberley


    A basic bank account should not require a credit check, do you know how they have found out you have other accounts open? It certainly should not be a blanket policy of all banks as lots of people open a basic bank account when they already have other accounts open.


    I would advise you to try some of the other high street banks. However be aware when you open a new account before bankruptcy, it will still be frozen when you are made bankrupt. If the OR has no interest in the account, it's then down to the bank whether to unfreeze the account or close it.


    Best wishes


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • Kimberley
    • By Kimberley 29th Aug 18, 6:06 PM
    • 13,401 Posts
    • 20,356 Thanks
    Kimberley
    Can't you open a current account with Nationwide? I have a normal current account, but the overdraft facility isn't activated. I had it before I took out my DRO, and when I went in and asked, they said it was fine to just keep it. Worth seeing if you can open a normal, just above basic, current account,
    Originally posted by Twubble
    And just ask for no overdraft? Could do try yes
    • Kimberley
    • By Kimberley 29th Aug 18, 6:07 PM
    • 13,401 Posts
    • 20,356 Thanks
    Kimberley
    Canít you withdraw your money from your Natwest account before you press the BR button?

    You will need money to live off of etc whilst your accounts are frozen.

    Have you cancelled the direct debit for the CC ?
    Originally posted by utterly ashamed
    I have cancelled them yes.

    What iím worried about is Natwest taking my wages whilst the account is frozen and using them to pay my overdraft and CC that I have with them
    • utterly ashamed
    • By utterly ashamed 30th Aug 18, 12:24 AM
    • 53 Posts
    • 21 Thanks
    utterly ashamed
    Yes but if you withdraw your wages before you submit your app for BR they wonít be able to be used to pay your overdraft etc ...

    Your overdraft will also be included as a debt in the BR.

    Itíd be wise to time your application submission according to when your wages go in etc. Youíll need to set up a new bank account for your wages to go in to post bankruptcy anyway as that one will be frozen then closed as the debt will be included in your BR.

    Basically nothing will be going in or out of that account again once youíve pressed the BR button so youíll need to withdraw money thatís in there to live off off.
    • utterly ashamed
    • By utterly ashamed 30th Aug 18, 12:25 AM
    • 53 Posts
    • 21 Thanks
    utterly ashamed
    Do you get paid monthly or weekly?
    • Kimberley
    • By Kimberley 30th Aug 18, 7:16 AM
    • 13,401 Posts
    • 20,356 Thanks
    Kimberley
    Do you get paid monthly or weekly?
    Originally posted by utterly ashamed
    Weekly but what happens to DD that may be due?
    • Kimberley
    • By Kimberley 30th Aug 18, 7:38 AM
    • 13,401 Posts
    • 20,356 Thanks
    Kimberley
    Do i open a current account and do the switching service for my DD’s as it takes 7 days apparently or open it today and just add my DD and standing orders myself
    • luvchocolate
    • By luvchocolate 30th Aug 18, 8:38 AM
    • 1,664 Posts
    • 1,498 Thanks
    luvchocolate
    no you need a basic account not a current account.
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