Where does your salary go with no Bank Account?

[marcia]

If you go bankrupt and are not allowed a bank account, where can your salary be paid so you can pay your gas and other household bills?

[MelanieGiles]

It is almost unheard of for a bankrupt to not be allowed to have a bank account, so I would not worry about this.

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

[marcia]

The reason I asked this question Melainie is because of all the posts I have read where people have said they are having trouble opening a bank account because of their bankruptcy status. I have just opened one and now I am afraid to move my salary there in case the OR freezes the account and I then do not have access to my salary to get essentials like nappies and baby formula. I read that once its becomes known you have a BR they can close your account eve if you do not owe them money. So that is why I wanted to know how you are suppose to survive if you cannot have a basic account with banks who find out about your BR status.

[MelanieGiles]

It is a decision for the actual bank, rather than one which is dictated by the bankruptcy process - so it might be sensible to ask the bank what their policy is now - forewarned is forearmed and all that.

Do make sure that the balance in the account is reduced to as low as possible prior to your bankruptcy, as any funds in the account will be taken by the OR as part of the bankruptcy estate.

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

[marcia]

Thanks again Melanie, I will do that.

[mish1953]

[:D]
Marcia

I'm BR and have a bank account, on-line banking, direct debits , standing orders, and an electron Visa card which I can use pretty much anywhere ... yep a big thanks to the Co-Op Bank.

The RBS and Halifax trashed my accounts .. ho hum.

You can get an account BUT most banks dont want to know , the BR's on here are mostly with the Coop or I think the other one is Think Banking which I beleive is an online bank.

Nationwide used to let you have an account but they have been a bit snotty about undischarged BR's recently

PS - my local credit union are ok about me having a savings account too [:D]

Slainte
Mish

Will an automatic discharge hurt.

[marcia]

Thanks Mish

I will try co-op. We have a bank account with Nationwide which we do not use. Could use it but when they find out our situation would they close it. Think Bank - you need to pay for and that kinda defeats the object to my mind. Sounds like you need to keep your money in a shoe box...lol... not funny at all but trying to see the funny side.

[aguise]

Hi Marcia just to confirm thinkbanking is not online banking, it is more telephone, though you can pay in at any natwest or rbos, I post cheques to them. The rest you can do by phone. Have a look at the managed account. The account does cost 12.50 a month but comes with a maestro card and you can use any cash points and I have as yet not had a problem with any debits in shops, cant go over with the card it wont let you. You will be accepted as all are no credit checks as the account is designed for those with these probs. I can only speak as I find the account is great and the account managers are so friendly.

Hope that helps a bit.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[marcia]

Thanks Aguise, I will try that also.

I feel absolutely paralized with fear as there just seems no way out and I have a 22 week old baby and 5 year to worry about. I cannot believe that two hardworking people like ourselves have reached this point. I really just want to keep the roof over my kids heads. If it was just my hubby and I we would take what we got and just have to rough it. Its the children I am worried about.

Will keep you informed.

[aguise]

We all go through those thoughts of how did we get here , but we did and today is a new day and we are going to sort it out. Loving parents and family is all children really need , and your children have that you will be ok, its just hard at the moment you will come out the other end.

Ang x

Please visit my blog at http://aguise.blogs.iva.co.uk/

[Skippy]

I would definitely recommend the Co-op. You may be able to use your Nationwide account - I am BR and I have an account with them and they haven't closed it, and they told me that they have no plans to do so.

You will get through this Marcia - when I realised that I would have to go BR it seemed like the end of the world at first, but it's not. Don't get me wrong, it's not pleasant, but it's far better than drowning in debt.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[jane.l]

I opened a Barclays Cashcard basic account, no problem. It has direct debits, I get my Child Benefit paid in. I got a Bread pre-paid Maestro card and have done my Christmas shopping online, this is the first year without using credit, and it feels great!

[wen]

At the end of the day, you could be turned down for EVERY basic account out there, and still you would have the Think banking account to fall back on.

So do not worry, you WILL get an account!!

[queenie]

Just tell the OR when you speak to them from the court that you want to make sure your bank account isn't frozen. Get a statement print out on the date of your hearing and fax it over to them, they can then let the bank know they have no interest in your account. That way you know you wont lose what little money you had left in there.

Queenie