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What does having my bank ac frozen mean, will I have no access to my wages? & for how long? |
I am in process of going bankrupt, and heard my bank account will be frozen, does this mean I will not have access to any money that I am paid whilst they are frozen?
Should I open a basic bank account and get my monies paid in there, or would this then be frozen also when the bankrupcy process begins?
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What does having my bank ac frozen mean, will I have no ...
Your bank may pick up on the fact that you have been made bankrupt and if it is frozen you will lose your bank account and you will need to pay your wages into another account. Bankrutcy and bank accounts are common question on the site. Hope you find some of the other questions and answers useful. Follow the blue link.
Re: What does having my bank ac frozen mean, will I have no ...
It depends on who your account is with.
If you open a basic account with either co-op or Barclays just before you go BR they will not freeze the account. On the day you go BR the official receiver will write to them to say they have no interest in the account as it's the one you are using for everyday living.
Other banks will not be so kind and will close your account when they hear of your bankrputcy, especially if you bank with Halifax, they trawl the pages of the London Gazette looking for their customers and immediatley close the account.
It's not the OR who closes or freezes accounts, it's the bank
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