Hi Marty

No a trustee won't freeze your accounts, although the bank may. However, a trustee has a duty to check assets and creditors to verify the information is correct. If there is an account with significant funds, then the trustee may ask the bank to freeze the account to safeguard the funds.

Mark

Is there any particular type of asset that you are thinking of Marty72?

Well
I wondered how far on average an ip looked at bank accounts etc....I have a flat in neg equity and an old car. That is it really?

Hi Marty72.

They'd normally want to look over some recent bank statements, perhaps a few months.

Reading between the lines... is there something in your financial past that is making you nervous about initiating such a process?

No not particularly. I have given money ( 2 years ago) to a partner. It would be murder having to sit down going over everything. I do sometime see the worst outcome in situations I guess
I have nothing to hide. I made a mess of my finances is the worst I have done. Seems I am not the only one.

Nothing illegal in my past at all.....apart from when I stole a bottle of tizer from mr Ahmeds when I was at school. Still annoyed at myself for that.

Hi Marty72.

It doesn't sound like there is an issue, unless the money given to a partner was significant and it was open to question that your creditors were treated unfairly by doing so.

Is Mr Ahmed still around to put things right?!

Can an insolvency practitioner request bank statements from your bank without the account holders written permission?

Hi Steesh

Yes, if he requests them from you and you do not provide them, then the Trustee can access the information.

Mark

Is this within Trust Deed law?

Surely there is a breach of client confidentiality by the bank releasing information to a third party who has no written authority?

Hi Steesh

Yes, S.38 Bankruptcy (Scotland) Act give the Trustee authority. This is on the basis that the Trust Deed follows this act and therefore gives the Trustee the powers.

Mark