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    • katyp
    • By katyp 12th Oct 18, 8:53 AM
    • 119Posts
    • 27Thanks
    Our bankruptcies are different :(
    • #1
    • 12th Oct 18, 8:53 AM
    Our bankruptcies are different :( 12th Oct 18 at 8:53 AM
    Myself and my husband both declared bankruptcy last month, due to a failing business.
    I have spent a lot of time reading up on the timelines after bankruptcy, but ours doesn't seem to be following the same pattern as others I have read about.
    Six weeks post-bankruptcy, our bank accounts are still operating normally. We have around £10,000 spread over five personal and joint accounts, and can spend and receive money as usual.
    We both had telephone interviews with the OR last month, when our assets were breifly discussed and SOA not mentioned at all.
    A trustee has been appointed, who is the same person dealing with our business insolvancy.
    We received an email from her this week, suggesting a meeting, In the email, she says she will work with us as far as possible regarding our family home.
    Don't know what to expect, to be honest. Nothing seems to be going according to others on here
Page 1
    • broaps
    • By broaps 12th Oct 18, 7:53 PM
    • 91 Posts
    • 60 Thanks
    • #2
    • 12th Oct 18, 7:53 PM
    • #2
    • 12th Oct 18, 7:53 PM
    Hi Katyp

    As you say, nothing seems to match the experience of most of us on this forum. Please let us know what happens after your interview.
    • rjwr
    • By rjwr 14th Oct 18, 9:09 PM
    • 341 Posts
    • 208 Thanks
    • #3
    • 14th Oct 18, 9:09 PM
    • #3
    • 14th Oct 18, 9:09 PM
    I had a failed business and I can report being able to do the same with my bank accounts.

    Good luck, lets hope it goes smoothly for you
    But never spend money you don't have to buy things you don't want to impress people you don't like.
    Originally posted by kidmugsy
    • london1973
    • By london1973 15th Oct 18, 9:08 AM
    • 361 Posts
    • 100 Thanks
    • #4
    • 15th Oct 18, 9:08 AM
    • #4
    • 15th Oct 18, 9:08 AM
    There is no ryhme or reason to the bankruptcy process and everyoneís experiece can be different-i expex]ct in depends on the area you live, the resources and time available to the OR, the personalities involved and so on

    My bank account took weeks if not months to be frozen, during my OR interview (face to face) i noted with horror that i had forgotten to fill out the SOA page, as we were leafing through the forms. The OR simply said, Ďoh donít worry about that its not neccessaryí
    The interview lasted 20 mins and ended with a warm handshake! My bankruptcy was complicated to say the least too
    I didnít hear anything again for 12 months - including notifying the OR of a marked increase in earnings, they didnít get back to me
    For me it was about applying a but of common sense, i lived very frugally for a long period up to and around my BR (i had to!) and played the game properly once it was done, i.e efficient, polite and remoreseful with the OR- i donít how much all that helps but i sensed if you demonstrate a bit of the above it canít hurt
    So you can get lucky i guess, i hope you have
    • katyp
    • By katyp 16th Oct 18, 2:12 PM
    • 119 Posts
    • 27 Thanks
    • #5
    • 16th Oct 18, 2:12 PM
    • #5
    • 16th Oct 18, 2:12 PM
    Thanks for the repsonses.
    Things are starting to move now.

    My First Direct bank account has been frozen, as has my Starling account (with £3000 in it). All others are - as of today - operating normally.

    I have contacted Starling to ask if they can keep the joint account open(current balance £0, no overdraft facility) and they have started we can use it until we open a new account but eventually t will have to be closed as the bank does not offer basic accounts. I am not sure how a bank account with no overdraft is different to a basic account?

    My husband's Starling account is still open, as is our One Account, although I have been told (not sure if this is correct) that the One Account is technically a mortgage not a current account, and as such will not be frozen.

    The trustee has emailed to say that if the Starling account is our main spending account (it isn't) and the one our wages are paid into (it is), they will be able to request it be unfrozen.

    Meeting with trustees tomorrow morning.
    • JCS1
    • By JCS1 17th Oct 18, 4:51 PM
    • 3,874 Posts
    • 7,869 Thanks
    • #6
    • 17th Oct 18, 4:51 PM
    • #6
    • 17th Oct 18, 4:51 PM
    If there are Trustees appointed then the OR will leave such things to the Trustees. Which is why your experience will be different to others.
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