my current account where my pension is paid into?
2006-07-13 02:57:54 · 11 answers · asked by pig m 3 in Business & Finance ➔ Credit
Not sure about that, but you are the kind man who offered to stand behind me when I asked the Scots to come and have a go! Just realised! Thanks for that.
2006-07-15 04:00:45 · answer #1 · answered by R.I.P. 4 · 5⤊ 0⤋
It depends on how much you have in the account, what type of account it is and which chapter you are filing. Closing some accounts would incur such a great tax penalty for you that the Court will not allow it. The best thing to do is see an attorney to make sure that you are covered... every asset is protected as best can be and every debt listed. If not, you might lose items you don't expect or you could end up still owing bills you thought were discharged under the bankruptcy.
2006-07-13 03:05:18 · answer #2 · answered by ladyangelovely 4 · 0⤊ 0⤋
Yes, if you go bankrupt then you will lose your current account and I'm afraid your pension for the period of bankruptcy.
Talk to your local citizen's advice bureau, or a debt counselling charity before taking out an IVA or going bankrupt they may be able to help you reach a better agreement with your creditors and if not can advise you on the best means of moving forward.
2006-07-13 03:05:05 · answer #3 · answered by nkellingley@btinternet.com 5 · 0⤊ 0⤋
If your bancrupt in the UK at least, your not allowed to hold a bank account or take credit for over £10, however bancruptcy isnt the last resort, do an IVA ( independent valuers assessment) this way you can offer to pay 10p in the pound and still have credit and trade ;) ask your bank about the viability of holding onto the account if your a bancrupt, they are not allowed to by law.
2006-07-13 03:01:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Your current account may have to be closed, but you can open a basic bank account. Speak to you branch. This is happening more and more.
2006-07-13 04:33:51 · answer #5 · answered by Boris 5 · 0⤊ 0⤋
yes because your account would be suspended or put on hold until you make arrangements with the lending department to repay your debt . however if you can proove that you can afford to repay the amount on only until the amt is repaid you can make arrangements to keep the account open
2006-07-13 06:51:38 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You can't have a bank accounts until you are discharged from bankruptcy
2006-07-13 04:42:50 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Dr Lifemaker -
And there was me thinking an IVA was an Individual Voluntary Arrangement. - How dumb do I feel now?
2006-07-13 03:18:01 · answer #8 · answered by 'Dr Greene' 7 · 0⤊ 0⤋
ladyangellovely is correct each bankruptcy carries its own conditions - and Badwif, how could you possibly get that wrong lol
2006-07-13 09:43:41 · answer #9 · answered by MSMORTGAGE 3 · 0⤊ 0⤋
nonono
2006-07-13 03:06:16 · answer #10 · answered by ihoston 3 · 0⤊ 0⤋