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

Moderators: TalbotWoods, JaneClack

By Enty01
#230735 I understand that you must stop using your bank account when made bankrupt.

I do however have a Co-op cashminder account that I have had for some time, but never actually used since opening - it has a £nil balance.

Would I be able to use this account after bankruptcy, or would I need to open a new account?

Many thanks
By nomlas
#230763 The Co-Op Cashminder account does accommodate people who are Bankrupt, and I am almost sure you would be allowed to use the one you already have, however I think it it is up to each OR to decide such matters. I am sure someone who definitely knows will advise soon. Regards. -- nomlas
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By TalbotWoods
#230783 Please do not assume that if an account has not been used that you can then use it.

You are required to notify the OR of all accounts that you hold (irrespective of if you use them or not), and any account you have closed recently.

The OR will then decide if he has an interest in it or not, of not then he will tell that to the bank, and they alone will decide if it can remain open or not.

Please read this regarding Bankruptcy and bank accounts


By foolishboy
#256543 This kind of thing can get really messy, with pre BR accounts suspended without warning and a pain to get re-opened.

I'd be inclined to close it now to save confusion and open another on the day of BR, this is what I did and as it's a post BR account the OR will not touch it.