If you go bankrupt what happens to your bank account? Do you need to open another account that's bankcrupt friendly? If so which banks can I approch? And do I need to do this before or after i file for bankcrupcy?
Hi Paula, Yes you will need to open another bank account. This can either be with Barclays or Co-op Cashminder account. Many people advise that you can open them prior to going BR but when I tried with both they advised me to do it after BR so I did it the afternoon that I went to court and it was no problem. There are also bank accounts available where you pay a monthly fee, believe they are called 'managed' bank accounts. The bank accounts that you have will be frozen after bankruptcy. Don't leave any money in them. Most banks will then want to close the accounts. If you have opened your new account prior to going BR then I believe if you tell the OR they will leave these accounts for your day to day spending.
Hope this helps.
Good Luck.
Went Br 20th July 2010...Just the OR to face now then countdown for 1 year...Or interview 30th July.
If you go bankrupt what happens to bank account
Posted - 31 July 2010 : 23:02:55
