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So I am officially bankrupt!

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  • #16
    Re: So I am officially bankrupt!

    Hello all ... regarding the many bank accounts.

    I had 2 x co-op accounts, 1 x co-op savings accounts and 1 x pre-paid "credit" card.

    The examiner was happy with me having 2 x co-op accounts to split Direct Debit bills from day to day bills. She said the idea of bankruptcy was "living within my means and not being able to save at present". So the savings account was closed (co-op transferred the remaining cash £2 into my current account). I needed to explain the pre-paid card, as she was not familiar with them. When she realised there was no "credit" facility and only the cash I had loaded myself, she was fine with it.
    "Cheap is good, but FREE is better!"

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    • #17
      Re: So I am officially bankrupt!

      haha its amazing how they dont know what a pre paid card is, they have been around for a while now.

      Glad its all sorted for you anyway.
      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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      • #18
        Re: So I am officially bankrupt!

        Hmm most Examiners do tend to think the "pre-paid" card is a credit one...they check as well though sometimes to try catch you out saying "oh yeah i've 1,000s " stashed on it at the monent..

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        • #19
          Re: So I am officially bankrupt!

          Thats true i guess, if you had built it up, it would be money owed to the receiver, didnt think of it like that.
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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          • #20
            Re: So I am officially bankrupt!

            When I had my interview call from my IP it was all straight forward and relaxed- I had up to date balances of all my accounts

            They needed to know ALL my household income and outgoings - although only I went BR

            From the outset it was obvious that most of the household income was tax credits and child benefit- we have 4 kids and almost £0 self employed income, my business is trundling along the bottom, if I got a decent offer of employment I would pack my self employment in tomorrow.
            They exclude state benefits from income as these are for living on, not paying debts

            I am in Scotland and the AIB website is full of information, but more importantly the people running the Scottish Insolvency Service (AIB) keep one eye over their shoulder as many MSP's keep a close eye on the AIB
            To sum up- the insolvency service is run as a service for the benefit of all, with a remit to be fair and be seen to be fair.

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