www.iva.co.uk

Hi,
If I decide to go BR rather than applying for an IVA should I remove all my money from my bank account, cancel all my D/debits and close the bank account.
That would mean not paying my utility bills/council tax etc this month and using the cash to a) live on & b) use £485 pay for the BR

Any ideas appreciated
thanks
Hamish
[V]

Hi mish

It might be a good idea to bring the account down to a zero balance just before the bankruptcy hearing, but up until then you should continue as normal. This is because your account will probably be frozen as soon as a bankruptcy order is made, and you may then need to obtain separate banking arrangements. In the meantime try and keep up with your utility payments - cash can always be used if necessary.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk