Will my bank account be frozen if I am a debtor on Debt Repayment Scheme ("DRS")?
The Official Assignee will not freeze the debtor's bank account, as the debtor is not a bankrupt. However, the bank may choose to do so in order to protect its own interests upon learning of the debtor's DRS status.
Related questions
What happens if a debtor on Debt Repayment Scheme (“DRS”) defaults on his instalment payment?
How does a debtor in Debt Repayment Scheme (“DRS”) repay his debts to his creditors?
How will a creditor or a member of public know if a debtor is under the Debt Repayment Scheme ("DRS")?
Do I have to repay my creditors before commencing the Debt Repayment Scheme ("DRS")?
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