Questions you have before making a decision to go Bankrupt and the Bankruptcy process

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By mt
#8059 Can anyone who has been through the bankruptcy process tell me how long and complicated the questionaire from the OR is? How many phone or person to person interviews did you have with the OR in total?

I'm going BR on the 27th and I'm really nervous about the whole thing. So would just like to know roughly what to expect. Thanks!
By Mel_Odious
#8063
mt wrote:Can anyone who has been through the bankruptcy process tell me how long and complicated the questionaire from the OR is? How many phone or person to person interviews did you have with the OR in total?

I'm going BR on the 27th and I'm really nervous about the whole thing. So would just like to know roughly what to expect. Thanks!

mine was a face to face and lasted 90 minutes. That is about the longest I've seen. The telephone interviews take less time 30-60 minutes. It is basically going through everything you put on your Statement of Affairs. You will be asked to explain about any large amounts. You will not be judged about what you have done, only asked to explain. As long as you have been upfront and honest about everything, you really do not have anything to worry about.

Mel
By Pineapple
#8079 My face-to-face interview was 2.5-3 hours. I think the length was due in part to the fact that I was one of the first to go through the new system, and the Insolvency Service staff were confused about the new procedures/forms.

While it wasn't a bundle of laughs, it was nowhere near as bad as I'd expected. The examiner told me we could take a break if I needed it and he was respectful and courteous througout.
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By litepurple
#8084 Mine was 1.5 hours. It took an extra 30 mins because the OR had to re-write the forms because I pointed out she had made a mistake :shock: I had become fairly expert in the entire process thanks to Mel and co.

Seriously, the interview is nothing to worry about. You will see what we mean when you get it out of the way.
By MRB
#8089 My interview was 20mins on the day I went ahead and I have never heard from the OR again. The actuall day was'nt one that I wish to remember but the very next day I felt relieved. Goodluck its not as bad as you think.
By mt
#8090 Okay thanks so much for the reassurance. I'm sure when I look back I will ask myself "What was I worried about?" but right now it all seems so daunting. It's only natural I suppose. I am doing a very serious thing!

BTW, my original BR appointment was on the 27th. I rang the court to ask if there were any cancellations and there was one for this Fri 17th and I took it (I'm out of the country soon so want to get things finished asap). So I will be officially bankrupt in two days! I'm so nervous. Wish me luck.
By Mel_Odious
#8093
mt wrote:
So I will be officially bankrupt in two days! I'm so nervous. Wish me luck.


I wish you the very best of luck (although you won't really need it)
Let us know immediately.

Mel X
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By Thrifty
#8099
Wish me luck

you got it but hey dont panick, as everyone said it aint that bad,i put my LTD co into liquidation 18 months ago, i took in the petty cash with me cos i was trying to be so above board. the OR gave me the £2.35 and said go and have a pint i bet you need it after this. They are only human and see it every day and have a duty of care to their "customers"
Good Luck and dont worry you will be fine :wink:
By mt
#8101 Thanks everyone for your support. I'm just worried that I will be made to justify myself: why I've got myself into such a financial mess. It will be so humiliating if that happens but I'm sure it won't. I guess like you all said, ORs are only doing their job, and I'm sure they have seen cases 100 times worse than mine.

I will definitely let you know how it goes on Friday. Still can't quite believe I'm going to do it.
By Mel_Odious
#8103
mt wrote:Thanks everyone for your support. I'm just worried that I will be made to justify myself: why I've got myself into such a financial mess. It will be so humiliating if that happens but I'm sure it won't. I guess like you all said, ORs are only doing their job, and I'm sure they have seen cases 100 times worse than mine.

I will definitely let you know how it goes on Friday. Still can't quite believe I'm going to do it.


As you correctly surmise they see many cases, even more nowadays. I owed 50k to 22 credit/store cards and loans etc. I had a thousand pounds holiday just about a month before doing the deed and explained it away as needing to get away and think what I should do. They are not judgemental nor is the Judge, which of course is the first hurdle you have to jump but basically that is just a rubber stamp. There'll be time to worry after Friday. Get that put away first and that really is just a very simple procedure.

Mel