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T O P I C R E V I E W
emdaz
Posted - 15 May 2009 : 17:45:46 We are withdrawing all our money on Tuesday from our account in preparation for it to go into our cash minder account with coop and will use this for our bankruptcy fee's and to live with.
Then we are selling our car (between £3k to £5k, not valued yet) and purchasing one of value no more than £2k, so the surplus that's left we want to use for a bond and first few months rent etc on a new house after we live this house, is this ok? Allowed?
Thanks in advance.
3 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 15 May 2009 : 18:59:17 The OR would only be able to see what you have from the bank statements and I am not too sure how closely they look at these.
If the OR asked you how much was in your account and you replied £30 then they wouldn't ask any further questions. When they looked at the bank statements they may ask about a large withdrawl but you could just say it was for the court fees and living expenses and that would be that.
The OR is there to find out why you declared BR and to work out if an IPA is required and not to catch you out.
emdaz
Posted - 15 May 2009 : 18:44:10 Thanks for reply, if I was to leave the bare min in coop account and had it as cash in my house would the or want that too???
gettingoutofdebt
Posted - 15 May 2009 : 18:08:35 That will be fine. The OR will be aware that you need to pay a bond if you are renting a new property so no problems there. You can also mention that you used some of the excess for the court fees as well.
I don't if it happens in all courts but when I was declared BR and had a call with the OR on the day they asked how much money I had in my bank account so it may be worth not having any more than is needed in the Co-op account when you declare BR in case the OR wants you to pay some of it to them straight-away.
