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

Moderators: TalbotWoods, JaneClack

User avatar
ByJoannec
#8147 What's worse - going to court to get the Bankruptcy order or the OR's telephone call or meeting?
ByMel_Odious
#8150
Joannec wrote:What's worse - going to court to get the Bankruptcy order or the OR's telephone call or meeting?

The latter Jo.
As Lemon posted today the Judge was very sympathetic. I and lots of others I've seen, don't actually get to see the Judge. A clerk takes the papers in and comes back with them stamped "Bankrupt" and that is basically what it is; a rubber stamp process. If you spend five minutes with the Judge that is a long time. S/He often asks if you are sure you know what you are doing and have taken expert advice about bankruptcy (coming here, I think satisfies that.lol) then your papers are stamped. the Judge will be sitting in a small room with just a table and chairs, the Judge will sit behind the desk and you take a seat in front; all very simple.
The OR interview is more nerve racking because you will be feeling guilty and worrying where all the money went but again the OR is just looking at your figures and making sure you haven't stuck a few grand away somewhere and as long as you have told the truth, you will be fine.

Mel
User avatar
ByJoannec
#8151 The thought of it all makes me want to cry! :(

Listening to Bleed like me by Garbage does not help! :roll:
Bymt
#8154 Joannec, I know what you mean about wanting to cry. I'm having my BR appointment tomorrow and yes the thought of going through it all is very daunting and sometimes I get very tearful. And of course I'm even more nervous about the OR appointment. But I think this whole process is good for me. I'm facing up to my problems for the first time in years and I know I will definitely be much much more careful with my finances in the future!
ByMel_Odious
#8155
Joannec wrote:The thought of it all makes me want to cry! :(

Listening to Bleed like me by Garbage does not help! :roll:


'Fraid I don't know that one. Haven't listened to modern pop for yonks. I'm an old jazzer, I'm afraid. Billie Holiday singing "Strange Fruit" brings a tear to my eye though.
It is a very emotional time and you are bound to be feeling low about the whole process but again look what the Judge said to lemon; "you have been brave in coming to terms and facing up to your debts". That takes a lot of bottle, Jo. Many just hide their head in the sand hoping it will all go away and it never does. They can end up with CCJs, bailiffs taking everything they own and many other nasties. You are doing the right thing and as I always say; everybody gets something out of it. The lender gets to write off your debt against Tax. The OR get paid his wages and you get rid of the debt burden. You are doing everyone a big, big favour.
No need to feel down about it!

Mel
ByMel_Odious
#8157
mt wrote:I know I will definitely be much much more careful with my finances in the future!


That is so very true. In the last three years, being bankrupt has taught me a lot. If I fancied buying something in the past, I would just flash the plastic and have it without thinking. How stupid! You see something in a sale with 10% off, you put it on a card and pay 30% interest. I look at things now and always stop and ask myself; do I really need that and is it worth the money? The answer is invariably NO! I have cash left at the end of my month instead of vice versa. I am saving. That's another thing that makes you think; it is really hard just trying to get 4 or 5% interest on savings when in the past I was paying almost ten times that in interest.
No, I never want credit or credit cards ever again but if I do have one card it will be paid in full every month. I've finished chucking money away and you will feel the same I promise.

Mel
Bysunshine
#8163 hiya...

I totally agree I am now ultra aware of the risk of credit...and so will not get into it again...I phoned to cancel my washer that is on rental this morning...someone is giving me theirs...and the person on the phone was like you can have a state of the art plasma tv...if not what about a dvd player on rental...after me saying no the 3rd time they backed down....
Bymt
#8169 Yes, and credit cards... they always automatically increase my limits, even though I was already in so much debt. Don't get me wrong, I'm not trying to blame my financial mess on anybody else apart from myself, but I do think the way they make it so easy to get credit is getting ridiculous.
ByMel_Odious
#8170
mt wrote:Yes, and credit cards... they always automatically increase my limits, even though I was already in so much debt. Don't get me wrong, I'm not trying to blame my financial mess on anybody else apart from myself, but I do think the way they make it so easy to get credit is getting ridiculous.

It really is and they don't give a damn. I was in my 60's, nearing retirement. They knew my age, they knew my salary and yet would hand out credit cards like they were fly leaflets. Towards the end, I thought sod it, they knew the situation and it would have been so obvious I was only paying minimums, yet they still dished them out and of course I was just taking another card to pay off the others, I knew I could never get clear in my lifetime and they should also have known. I wouund up with 22 credit and store cards, would you believe? I owed 50k at the death. That was all three years ago though and now I feel that I have been reborn. I have my pension and I have a job and the money I make is now mine. all mine! Tehee.
ByDavidc
#8184
Mel_Odious wrote:
mt wrote: I wouund up with 22 credit and store cards,


22!! I only had 9 or 10 No wonder you had such a time clearing up your credit file......How did you remember all the due dates?
David
ByMel_Odious
#8185
Davidc wrote:
Mel_Odious wrote:
mt wrote: I wouund up with 22 credit and store cards,


22!! I only had 9 or 10 No wonder you had such a time clearing up your credit file......How did you remember all the due dates?
David

Paid by cheque from their statements. A never ending chore.
BTW you were correct, NatWest refused to upgrade as I failed credit scoring and another excuse was that I was too near discharge and I should re-apply in six months.

Mel
ByDavidc
#8188
Mel_Odious wrote:
Davidc wrote:
Mel_Odious wrote:
mt wrote: I wouund up with 22 credit and store cards,


22!! I only had 9 or 10 No wonder you had such a time clearing up your credit file......How did you remember all the due dates?
David

Paid by cheque from their statements. A never ending chore.
BTW you were correct, NatWest refused to upgrade as I failed credit scoring and another excuse was that I was too near discharge and I should re-apply in six months.

Mel


Remember that Guanteed Capital one card
Tell me where I fail on this.
I am a discharged bankrupt
with no history of fraud
and can fork up the max of £200 to fund it
and I have apealed
and they have my discharge certifacate
They still refuse.....
Someone is taking the p*ss.
David
ByMel_Odious
#8211
Davidc wrote:
Mel_Odious wrote:
Davidc wrote:
Mel_Odious wrote:
mt wrote: I wouund up with 22 credit and store cards,


22!! I only had 9 or 10 No wonder you had such a time clearing up your credit file......How did you remember all the due dates?
David

Paid by cheque from their statements. A never ending chore.
BTW you were correct, NatWest refused to upgrade as I failed credit scoring and another excuse was that I was too near discharge and I should re-apply in six months.

Mel


Remember that Guanteed Capital one card
Tell me where I fail on this.
I am a discharged bankrupt
with no history of fraud
and can fork up the max of £200 to fund it
and I have apealed
and they have my discharge certifacate
They still refuse.....
Someone is taking the p*ss.
David

It really is very difficult to understand. I would think that we would be the best possible clients for Banks to take on. We don't owe a penny to anyone and are very unlikely to get into debt again. Thinking, perhaps that's why they don't want us as there won't be much profit out of us.

Mel
Who is online

Users browsing this forum: Bing [Bot] and 1 guest