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qwerty
Starting Member
United Kingdom
8 Posts |
 Posted - 17 May 2009 : 16:37:07
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I went bankrupt last week and my bank accounts were all frozen the next day. Nothing unexpected there, but what I didn't expect was to be facing the possibility of not having any money to live on for the next two weeks at least!
As soon as I knew my accounts were frozen I contacted my OR. He told me to go to my bank and get the fax number of their bunkruptcy division. My OR would then fax them instructions to release enough funds from my account for me to live on. I got this fax number, emailed to my OR and he faxed instructions. I then left it for a day thinking all was in order.
I then contacted my OR the next day to see if the funds had been released. My OR told me that he would not have heard anything and it was up to me to chase it up.
So I went back to my bank asking them if their bankruptcy division had received instructions from my OR and if they had released the funds yet. Instead of contacting their bankruptcy division to find out what was going on, they just told me that my account would remain frozen until all the direct debits had gone through; only then would they send me a cheque for the remaining funds. They also said there was nothing more they could do.
After all my direct debits are cleared I will have at least around £200 left over. The last direct debit will only go through on the 24th of this month, add the time it takes to clear the cheque they'll send me and we're looking at the end of the month before I'll have access to that money!
When my accounts were frozen (last Wednesday) all I had in my pocket was £8.50 in cash. That, unsurprisingly, has now all gone. I also travel to work by train and my current weekly train ticket expires today. So apart from not being able to eat for the foreseeable future, I'm also now not able to go to work tomorrow or the rest of the week, depending on how long all this goes on for.
As I said, I knew my accounts were going to be frozen but I was also under the impression I was allowed the release of enough money for essential living expenses. I certainly wasn't anticipating the prospect of starving for two weeks, or having to take days off work.
I'm pretty sure the bankruptcy process is not there to dish out this sort of hardship, but I can't help feeling more than a little roughed up by the system here.
I live alone and have no relatives in this country to rely on in a situation like this. Can anyone offer any advice as to how I can sort this out?
My interview with the OR is on Wednesday.
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 17 May 2009 : 17:01:24
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Hi
really sorry to hear about your situation although there is nothing I can suggest after the event. Not sure why the bank are keep to make standing order payments. Are these payments to creditors, the bank or utilities?
I would always recommend that one sorts the bank account first, make sure that there is sufficient petrol in car & food in the house just incase the account is frozen, but most importantly to have the right bank account before you go bankrupt.
Bankruptcy is a minefield and people interpret it in diferent ways so always be prepared so you are in control rather than someone else telling you what to do
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com
Real People ..... Real Debt Solutions
www.revivauk.com |
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qwerty
Starting Member
United Kingdom
8 Posts |
Posted - 17 May 2009 : 17:14:32
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There is a standing order for my rent and another direct debit for a utility. The account itself was for my salary to be paid into and is not with a creditor.
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 17 May 2009 : 17:24:32
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It does sound like you have had a rough time of things. When I went BR last week I spoke to the OR's assistant on the day and mentioned that I had opened a new Co-op Cashminder account. I gave her the details and she contacted the bank to advise that they have no interest in the account so there is no need to freeze it.
It sounds like you have kept your original bank account open and, as this was entered on the SOA, it has automatically been frozen.
Unfortunately there is not a lot that anyone can suggest except to keep pestering the bank and trying to get them to release the money. |
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Jane.l
Average Member
511 Posts |
Posted - 18 May 2009 : 11:51:00
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We planned for this as we knew it may happen, we booked our bankruptcy date for 4 days after wages went into bank, withdrew the lot as it was for us to live on for a month. As soon as we were declared bankrupt, we went and opened a Barclays cashcard account. This takes 2 weeks to set up so we paid everything in cash for that 2 weeks. The commpanies that we had direct debits with (TV licence, water, etc,) I just rang them and said we were changing bank accounts, (no need to mention the B word to them) and they either sent me a payment slip to pay cash at the post office or a couple of them said we could pay double the next month when the new bank account was up and running. Also straightaway told hubby's work to pay his next wage into the new bank account.
I suppose it is too late now for you but I hope you can get them to sort it ASAP |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 18 May 2009 : 15:43:22
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Hi qwerty
Can you ask the bank to cancel the S.O and DD's with immediate effect and close the account. Surely they should still allow you to do this bearing in mind the OR has said they have no interest in the account.
You probably need to be absolutely clear to them what hardships their actions are causing, even if it means speaking to someone in authority.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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Accounts frozen, I now have no money to live on
