Issues and questions that come up during your bankruptcy period

Moderators: TalbotWoods, JaneClack

By zane
#201878 Hi,

Well I have done the deed I'm now officially BR! just waiting on OR to call me within the next couple of days.

Just quick question, within the next couple days I wil have my pay coming into my Nationwide Flex cash card basic account, if I'm to understand the OR has now full control of my account therefore when I do have my pay in my account I cannot withdraw without OR's permission, is this correct?

also now that I'm bankrupt do I have to inform my employer? even though my job does not involve any money handling nor am I in the financial industry!
By butterfly
#201890 Hi Zane, I opened a basic bank account before going BR. I used it as normal after BR as the OR and the bank both said that was ok, then it was closed by the bank and they sent me a cheque for the full amount. They then let me open another basic account using their cheque! Basically the bank didn't have a problem with me but when they were officially notified of BR after Id told them they 'automatically' closed it. I'm grateful they sent me the cheque and not the OR. To be on the safe side make sure that any account your using was opened AFTER you went BR. As far as withdrawing money to live on goes I don't see that there can be anything wrong with that. Good luck.
By gardener
#201894 No, you don't have to inform your employer unless, I suppose, its in the conditions of your contract.

When you were declared bankrupt did you get a quick telephone conversation with the OR? They normally tell you there and then which account you can use as far as the OR is concerned. The bank of course may have other ideas. If the OR's office didn't make this clear I would give them the office a call and ask them because you are not supposed to touch accounts that belong to the OR. After court my OR asked where my wages went and said I could carry on using that one as no money was owed to them so it sounds like its just a formality but one you have to go through.
By zane
#201954 Thanks guys! you're both right.

spoke to the OR and she was nice and said as it's a basic account she didn't have a problem with me withdrawing providing it's for my living expense:)