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Category: Law
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How does going bankrupt effect my day by day banking that is

Customer Question

How does going bankrupt effect my day by day banking that is Debit Card Credit Card cheques etc.
Also on the hearing date of the bankruptcy procedures can I negotiate with the court to pay the debt of £10102 in 4 payments to avoid bankcrucy
Submitted: 4 years ago.
Category: Law
Expert:  Max Lowry replied 4 years ago.
Hi, welcome to Just Answer. I will help you with your question. If and when you are made bankrupt your banks accounts will be frozen by the Official Receiver. You will most likely need to open a new bank account which will be very much restricted in its use. It depends on your actual bank but you probably won't be allowed a cheque book. You may be restricted to going into your brand to withdraw money.

You are best to make any negotiations before the date of the hearing. Don't wait until the last minute to try and resolve this. It sounds like a reasonable proposal but you will need to convince the petitioning creditor and if he is not happy, the court.
Expert:  Nicola-mod replied 4 years ago.

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