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Can I Keep My Bank Account And Current Lease In Bankruptcy?
Question:
Was on IVA until was advised to go bankruptcy. I hold a current account with barkclays but was advised to open a basic acct before I got the certificate whenI went to court last week. I am also a leaseholder and owe a major works bill for 5000 to a hopusing association..
My salary still goes though main acct do I need to disclose the basic acct or can I just continue and redirect my salary?
Can the major works bill be written off and will I be allowed to keep my home?
Answer:
You are allowed a basic account in bankruptcy and all other accounts will be frozen; so opening the new basic account first may be in order to have your wages paid into it.
In bankruptcy you are required to disclose all your accounts.
You would want to be make sure you do not owe Barclays at all and inquire with them if they allow bankrupts a basic account.
If the works bill is unsecured you can include it in your bankruptcy, however if you are still leasing from the association you owe the bill to and pace that debt in bankruptcy, they may evict you or have you moved.
You may want to discuss this with the association and also review any documents you have for the works bill and also your lease or tenancy agreement.
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Source: Can I Keep My Bank Account And Current Lease In Bankruptcy?