Advice on Bank Accounts prior to Bankruptcy

[David F]

Hi All,

I am researching my options regarding going bankrupt but am unsure on how to best handle my existing bank accounts and which ones if any would be closed.

I currently have 3 bank accounts:

A/C 1. Barclays Current Account linked to and part of my mortgage (offsett) this account is £28k overdrawn and secured on my property.

A/C 2. Barclays Current Account, I use this as my main current account and have my Jobseekers allowance paid in to it. There is NO overdraft facility but there is a debit card and cheque book but NO cheque guarantee.

A/C 3. CO-OP Cash Minder. I have only just opened this after reading on here it would be best to have a separate account prior to entering BR.

I have approx. £125k unsecured debts / CCs and loans (none of these are with Barclays).

My questions is:

Would the OR freeze/close my Barclays accounts when one is part of my mortgage/secured and the other is a basic account and I do not owe any unsecured debt to Barclays?

Many thanks for any help/advice you can give.

David

[kallis3]

Hello David, just spotted this.

I know the OR does freeze accounts and you would need to list them on your forms, but the OR can make sure they are released as soon as possible.

Hopefully one of the experts can confirm what happens.

[Skippy]

It's down to the bank whether they freeze your bank accounts. If the OR has no interest in them they will advise the bank, but then it's down to them.

You will need to list all your accounts on your BR forms, but you should be ok with the Cashminder account, unless you live in the Brighton area - the Brighton OR instructs banks to close any account, even the Cashminder, although you can then open another one.

[David F]

Jan & Skippy, many thanks for the advice.

David

[David F]

I just wanted to add that I have spoken today with Paul at revivauk.com who was a fantastic help.

This guy really knows his subject and if anyone is contemplating BR they would definitely benefit from a quick chat with Paul. His details are on the "Experts" link on the left of the forum and the advice I received was free.

Thanks again Paul..... you really helped a lot.

[kallis3]

I have met Paul and he is a lovely man. Glad he has been able to help you.

[Skippy]

I'll second that, Paul is a very nice man and I'm glad he's been able to help you x