www.iva.co.uk

Hi
We are going to be presenting our bankruptcy forms at the court within the next couple of weeks.
Im just a bit concerned about our bank account. Its in joint names and we are both going BR. We are with Natwest, who knows we are already in an IVA, and we do not have any debts with them.
I know on the day of our BR our account will be frozen. But when will it be unfrozen, and what do i do about or wages and benefits that go into that account and the direct debits that come out of it.?

Has anyone got any advice or experience of this?

Thanks

If it's not a basic account it will probably remain frozen. I can recommend the cashminder with the co-op, a really easy account to have and you get a visa electron card with it. Once you have opened a new account, I would contact the benefit dept and tell them to stop paying into the old account and make payments into the new one with immediate affect. Take any cash from the old one as this could be siezed by the OR as assets and you might not get it back.
Can I just add that our C/minder was effected in any way and wasn't frozen at all.

You will need to phone the co-op or call into one of their branches as that's the only way you can apply for the cashminder

I don't think Natwest are particularly sympathetic to bankruptcy so you will need to open a new bank account. Like Chris I would also recommend the Co-op Cashminder.

I really didnt want to change bank accounts again. We moved to Natwest from Barclays when we went into our IVA. Should i speak to my bank manager, shes knows about my IVA already and im on a basic acc, solo card no overdraft, and its on my acc records that we are in an IVA, it wont let us go 1p overdrawn!

It certainly wouldn't hurt to speak to them, good to be upfront. And if, as Skippy says, Natwest prove to be unsympathetic then you could always try the Co-op.

Doesn't the account have to be timed to be opened the day after the BR?

Debbie