What the Official Receiver Does with your bank account in bankruptcy

If you are going bankrupt, one of the very first questions that are asked by an advisor are what happens to their bank account, if it is worth opening a basic bank account prior to declaring bankruptcy, and if all accounts need to be disclosed. It is internal guidance within the Insolvency Service that the official receiver should notify any banks where the bankrupt held an account as soon as practically possible (and certainly within five working days of the bankruptcy order) and should do so as soon as he/she obtains the bank's full address and account numbers. The Statement of Affairs asks for details of all bank accounts which the bankrupt has and also any which are jointly operated. Many people now have internet or telephone

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