Issues and questions that come up during your bankruptcy period

Moderators: TalbotWoods, JaneClack

By enty999
#465203 It's almost 3 years since I first came on here for bankruptcy advice. The whole process seemed very daunting, especially going to court & the OR's interview - I needn't have worried :)

On attending court I wasn't even seen by a judge due to his other commitments - I simply signed some paperwork.

The OR couldn't have been more understanding - The interviewer amended some of my monthly commitments to a higher figure (in my favour) as he felt I had not allowed enough for some monthly bills etc.

My IPA was set at £140 - I felt I could afford more (£200) but I wasn't going to argue!

I have just 1 payment left to make at the end of next month & then I'm all clear :)

I've done all the cleansing of my CRA files (having everything marked as settled) and my current comittments are fully up to date.

My point is that if you're considering bankruptcy & you don't own a property or any real assets to speak of (as was my case) then it's not as bad as it might 1st appear.

I was worried about my employer finding out due to the change in tax code, but I petitioned mid-March & it therefore didn't affect my tax code due to being so close to the new tax year (I think)

I owed over £65,000 and it was affecting my health - I now have a clean slate & at least I've been able to pay back some of what I owe; what's more, it only seems like yesterday since I took the plunge.

The OR's interview is about 40 minutes of your life - stop worrying about it!
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By TalbotWoods
#465383 Thanks for posting this is really is important for people who have been through bankruptcy recently to share experiences, especially as so many are concerned about the process.

And good luck for the future

Tim