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Ask Deborah Awyzio Your Own Question
Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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I have been released from bankruptcy by law and have been

Customer Question

I have been released from bankruptcy by law and have been out for 2 months .i won't too reativate a old bank account that has been held by the banks until I have been released by the Australian financial security. .the bank will not reopen my account but the Aus finacial say they must .can you please help
Submitted: 11 months ago.
Category: Australia Law
Expert:  Leon replied 11 months ago.

Good Afternoon

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advice but a guide to assist you.

What reasons are they giving for it not to be re-opened?

Are you wanting an account that was pre-existing and closed to be reopened or to open a new account with them?

Any account that was closed as a result of your bankruptcy cannot be re-opened as it is closed and they do not re-open them. That applies to everyone. You have to open a new account and they cannot refuse that.

Customer: replied 11 months ago.
What if the account was not closed only dormant with a small amount of cash in it
Expert:  Leon replied 11 months ago.

If the account is not closed then it is active and you can access it.

An account is either closed or not. If it is not closed then you have access to it unless the Trustee of bankruptcy has a stop on it.

Then they need the Trustees authority.

Customer: replied 11 months ago.
Ok ,even when the trustee has been Finnish as trustee from me for 2 months and is not interested in doing a more for me .
Expert:  Leon replied 11 months ago.

Good Afternoon

If the Trustee has a hold on the account, unless they release it then it is frozen.

You need to get full details why the account is not permitted to be used and then go from there.

I suspect it is frozen by the trustee and has not been released.

Customer: replied 11 months ago.
Ok if the trustee does not wont too release now that I am cleared from bankruptcy can he be made too do so by law
Expert:  Leon replied 11 months ago.

Good Afternoon

Because the money was there when you became bankrupt it is part of the bankruptcy and you are not entitled to it.

If they trustee has forgotten about it they have a right to deal with it now.
If the account was opened after you entered bankruptcy then it falls outside and you can get it back. But anything that was existing at the time you were bankrupted forms part of the bankruptcy.