Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By H
#8102 Hi - Want to know if anyoen has any knowledge or experience about how OR will handle overseas bank account. My debt and bankruptcy all relates to UK Banks/Creditors. I have a basic current account with debit card and no overdraft or cc overseas which is my main account. I know I will have to declare it even though it has nothing to with any of my creditors and its a US account but in reality is the OR going to freeze it - how do they do this if its outside the UK, how long will it take (I assume not same day ....) and what will they tell the bank, as Im not going bakrupt in US?

By Pineapple
#8104 This is a total guess as I've no experience, but I doubt they will be able to freeze it easily/quickly. But you are obliged to declare it. And it will be taken into account. As will any overseas income for an IPA.
By Mel_Odious
#8106 As I understand it, it is not the OR that actually has the accounts frozen. The OR informs the Bank of your bankruptcy and the Banks then freeze the accounts. If that is the case then we don't really know how foreign banks will respond.

By H
#8109 Hi - Thanks both.

I assuem the OR would make it clear when he informs them that I am going bakrupt in the UK and not the USA!!! I guess I will ask him at our meeting...I assuem its OK to ask the OR these sorts of questions....??

Also, who informs the Credit Agencies that you are bankrupt. Would a US credit rating agency need to know/want to know/be able to find out that I am bankrupt in the UK. Are they even alowed to put this on my US file?