If i go bankrupt how can i get my wages paid to me as i will not be allowed to hold a bank account.?

Question

I am deep in debt and struggling to make payments. My wife is about to go on maternity leave which means less money coming in. How can i get my wages paid. I can,t use my wife's account as it is likely she will have to go bankrupt. I do not want to ask friends as it is an embarrasing situation. Are there alternatives ?

Answer 1

You are allowed a bank account, you will not be allowed any credit. So, you will have a cash card only.

If that doesn't work, try a building society and ask for a book based savings account. You will then have to call into the branch every week to draw your cash. Pain in the rear but at least you will get your wages.

Answer 2

Question Can I have a bank account?

Answer There is nothing in the insolvency legislation which prevents a bankrupt from holding an account, but you should tell the bank or building society that you are bankrupt, since they may wish to impose conditions and limitations e.g. not allow a cheque guarantee card. You should not obtain overdraft facilities without telling the bank that you are bankrupt.
You may also find it helpful to read the Insolvency Service publication What will happen to my bank account?

Note: it is the bank's decision as to whether to allow an account to be opened by the bankrupt.


HOPE THIS HELPS, AND CHECK THE LINK FOR LOTS MORE INFO

Answer 3

ok, lets cut through all the rubbish other people have put, you ARE allowed a current account (without an overdraft facility) its just no one will give you one. however...

the nationwide flex-account has 2 versions. the one without cheque book comes with just a cash point card, but is ran just like a current account. You can have direct debits from it, and standing orders and all the other gumph you might need such as online banking etc.

as you get a bank account with a sort code and number it will even look like a proper bank account to anyone else.

Answer 4

Filing for bankruptcy does not preclude you from having a checking or savings account. If you choose not to have one, then your employer can give you a check which you can cash for a fee at a number of establishments... although I don't recommend this, it is an alternative. Much better to have a checking or savings account. If you're having trouble opening an account at a large institution, try the smaller community banks and/or local credit unions.

good luck!

Answer 5

U.S is not a super power anymore. Sucks to hear, but China is slowly starting to take over the world. Their goal of a 8-9% increase on their GDP each year has been met, even during the most economically hard times. If America collapses, China will just swoop right in and become an even more stronger power than it is now. China is pretty rich because of the way they work their people.

Answer 6

You can have a savings account which means you can have money paid in and get money out via the bank and you are given a cash card not a debit card. You can also still set up direct debits.

Answer 7

What does your wages have to do with a Bank Account- is it check cashing you worried about, and what makes you think you cannot have a Checking account, , you can- so stop worrying about it. You simply cannot have an account with a million dollars in it, - and after Bankruptcy, you can even have that, provided you didnn't have it before the Bankruptcy.

Your checking account is not a debtor, so why would the bank even know you filed.

Answer 8

u will be supervise by the bankrupt officer and after deducting ur daily expenses,the rest of ur wages will use to repaid ur debt and u will get hold of ur remaining wages thru their specific appointed saving acct..

Answer 9

having been bankrupt you are allowed a bank account but it will be a restricted one the halifax and abbey national will consider you

Answer 10

You are not allowed a current account, you are allowed a savings account or something similar.