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I hope you can help me I am having sleepless nights and worrying to the point it's making me ill. My son was declared BR on Friday 22June 07. He informed the court of his assessts (which are none) He had a post office account which he did not know he still had until 22nd June as we had the post office book since 2000 no money has gone in or out since that date. There is approx £400 in it, we explained to him that it was there and that he could withdraw the money to pay the court. However, the post office require 28 days notice he completed the form and is waiting for the cheque.

I am now worried sick because he has not disclosed this money to the court. He has a meeting with the department this Friday 27th June does he have to inform them of this money. I am terrified he will be done for perjury please help

There is no possibilty, given the sum involved, that the Official Receiver would consider proceedings for perjury. It's not clear from your post to whom the outstanding cheque will be made out but there is a strong chance that the bankruptcy will cause the automatic closure of the account resulting in no cheque being issued.
Even if that does not happen, the OR will be entitled to ask the recipient of the money to pay it back.
For these reasons your son should tell the OR about the PO account.

I agree with the above in that you have nothing to worry about but do make sure you disclose the money & account to the OR.
As for the money itself, did he borrow the fees initially and is this money to pay someone back? If so, explain that to the OR and they'll probably not ask for the money. Or if the request for withdrawal was made pre-BR then you could probably declare it as cash in hand and get to keep it?
In any case, just let the OR know and see what they say - you wont be done for purgery thats for sure!

I agree with the previous posts. Don't worry, your son just needs to disclose the account to the Official Receiver.

AccumaGroup - A large insolvency practitioner service based in Manchester.
www.accumagroup.com

Dear Merl,

Please don't worry, you have been given sound advice above!

Kind Regards

Nicola

Finebridge Ltd
22 Laud Street, Croydon, CR0 1SU
0800 180 4212
www.finebridge.co.uk

Thank you all for your kind words, it has been a stressfull time. I didn't realise this web site existed I wish we had found it earlier. The only person he borrowed the fee money from was ME!
He has opened a bank account last week with a bank that knows he is declaring himself bankrupt. He had to open an account as he began a job at the begining of June and needed to give his work a bank account. His first months wages will be going in on Thursday will he be able to keep his wages? or will they be included. If they are he will have nothing to live on for the following month.
I know I seem to be asking a lot of questions but we are struggling to understand the whole aftermath.
Once again thank you for all your immediate responses

Hi Merl, is your son's new account a basic account with no overdraft or chequebook? If so the Official Receiver will have no interest in this account. As far as I am aware there will be no problem with him withdrawing the money, but if he want to make sure he can ask the OR to confirm. I have found my OR very approachable and she has answered all my questions promptly.

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/

Hi merl,
For your info
Basic bank accounts for bankrupts.
Only three banks will accept applications:Barclays,Nationwide and the Cooperative Bank.

Adrian

I'm afraid that Skippy is incorrect in saying that the Official Receiver will have no interest in a basic bank account. All accounts should automatically be frozen on the making of a Bankruptcy Order and any money in them falls in to the Bankruptcy.Sometimes a bank fails to freeze an account but if the money is used after the Bankruptcy Order the Official Receiver would be entitled to ask for the money back.
I suggest that your son cashes the whole amount in the account before the bankruptcy to pay for this months expenses.
Provided that the new Bank is aware of the Bankruptcy ther shouldn't be any further problems.

Only one problem with that idea - he is already bankrupt!

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

Must read the posts more carefully. Quite true that he is already bankrupt in which case his June salary cheque should not fall in to the bankruptcy.There may be some delays in getting the money back if its gone in to a frozen account but he should be entitled to retain the money.

Don't worry Catullus - I sat and typed a long reply before realising that he was already bankrupt so I had to do it again!

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/