Author Topic: how quickly are bank accounts frozen?  (Read 4078 times)

essexman1966

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how quickly are bank accounts frozen?
« on: May 25, 2018, 05:37:43 PM »

Hi


I have a very specific question concerning bankruptcy. How quickly do the banks move to freeze an account?


Here is my situation. I think that I was declared bankrupt today as a result of a petition by HMRC. (I was unable to attend the hearing as I am abroad on work, and I did ask the court for an adjournment by letter for this reason, but let's assume the adjournment wasn't granted.)


I assume that because Monday is a bank holiday I won't appear in the insolvency register until Tuesday at the earliest.


I should get paid by my employer next Wednesday (by Faster Payments, not BACS).


I have two accounts: a NatWest Select Silver, and a Cashplus prepaid debit card. I don't have any borrowing, or a chequebook, on either. There's not much in either of them.


Currently my salary goes into the NatWest account but it would be easy enough to change that before my payday.


Ideally, what I need to be able to do is to get some cash and pay urgent bills (rent etc.) as soon as I am paid - then that gives me several weeks before the next payday to sort out a new basic bank account if I need to, and obviously I will have spoken to the Official Receiver by then anyway.


So, is it likely my NatWest account could be frozen as early as the Wednesday?`


Would Cashplus be likely to freeze it at all?


If I called the NatWest insolvency team on Tuesday (I have the direct number) would this help avert the problem, or would it just alert them to the bankruptcy and make them more likely to freeze it?


Obviously, the timing and being away from home just make things more complicated, but there's no avoiding that.


Any advice much appreciated!


Thank you


Dan