Maybe this firm have a special sort of relationship with HSBC which enables them to get lower offers than 40p accepted. I doubt this very much, but will be very interested to know the outcome of your case. Why not ask your IP - who are a major volume processor of IVAs doing approximately 450 per month - how many HSBC cases with dividends below 40p they have had accepted in the last three months. I would be very interested to know that, as I am not aware that there is a relaxed policy, and spoke to HSBC's representatives on this very point a couple of weeks ago.
You are allowed a basic bank account in bankruptcy, but this is at the discretion of the bank rather than the Official Receiver's office. You could ring the Official Receiver and ask them what newspapers they use for your area. Your employer will not be told, but your landlord will. This may affect your tenancy agreement, but so long as you have no arrears a landlord would be silly to ask you to vacate.
For more specific advice on bankruptcy, you ought to get this from your IP who you have appointed to act on your behalf. They should have already chatted through the bankruptcy procedure with you as part of their normal duties to clients.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
