- Tue Jul 23, 2013 8:40 am
Bankrupt Practitioner ?????
I just phoned up my local county court and made an appointment to see the Judge at the County Court about petitioning for my personal bankruptcy. (it is the Judge who decides whether to declare you bankrupt or not - although it's just usuallly a formality).
I got the appointment about 10 days later(although some courts can be sooner or later).
Meanwhile I downloaded the forms that needed filling in from the internet, and filled them in. The form is several pages, but there is an accompanying letter that explains what information is required, and how to fill the form in, so it was quite easy(just needs thinking about).
Then ten days later I turned up at the County Court and handed over my £700 and my forms to a lady behind a desk. About an hour later, the same lady came to me and handed me my Bankruptcy notice, and told me that the Official Receiver would be in touch, and that was it. I was declared bankrupt. I never saw or spoke to anyone, other than the lady behind the desk at the County Court.
About a week later, I got a letter from the Official Receiver asking me to ring him. I rung him and spoke to him for about half an hour, where he went through all the details of my income and expenditure what I had put on the forms which were handed in to the County Court.
About a week later, I got a letter from the Official Receiver telling me I didn't have to pay anything back towards my bankruptcy as my disposable income was too low. And that was it !! I never heard from anyone again for 10 months, when I got a letter telling me I had been discharged early.
The whole episode was quite easy really(much easier than I thought it would be).
I never saw anyone at all, and just spoke to the OR for half an hour. I still can't believe I got rid of ALL my debts (nearly £40,000) so easily without seeing anyone.
When I look back now, I wish I had done it sooner. I was on a Debt Management Plan for 5 years.
Incidentally, the OR let me keep my car, valued at approx £1000, as I argued that I needed it to find work.
So to answer your question :-
From the minute I asked for an appointment at the County Court, to the minute I was declared bankrupt was TEN DAYS.. and my bankruptcy lasted TEN MONTHS.
My bank manager once said to me " You live like a king on paupers wages - how come" ? When my debts reached £70k, I knew the answer.