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

Moderators: TalbotWoods, JaneClack

By clare297
#1261 HI I posted 'I have finally done it' a couple of weeks ago. I have just finished my OR interview so I thought I would keep you all updated ( I had that horrible sickly feeling all morning). I had a telephone interview that lasted about 45 minutes. He only had my court forms as I only recieved the ORpack this morning (I phoned him up MOnday to query where the forms where and they hadn't been sent out). ANyway I still didn't receive the correct forms so he said he would personally send the forms out to me today. He explained the forms he required, one for me to sign so he can my information of the Inland Revenue and one for me to sign (with a witness) that states the bankruptcy restrictions and thats it. He said if I don't hear anything from him then I will be automatically discharged in a year but probably it will be much sooner than this. He just went through the statment of affairs that you give in at the courts, asked about what the money had been spent on (went through most of the specific debts one by one). I was quite vague to be honest cause I can't really remember, I mentioned a short holiday, paying off arrears on previous debts, then the normal day to day living, xmas and birthdays eating into the money. A lot was built up by getting new loans and paying off the old one, leaving a bit of surplus. He seemed happy with the explanation. He was happy that I give rent to my partner (who owns his own house) to live there and paid majority of utility bills as our agreement when I moved in. Wasn't interested in a couple of old work pensions I have. Wasn't interested in the car (£400). Didn't go through my outgoing expenses as I don't have any income (only get paid term time) and just told me to wrtie to him once I know how much I will be earning and said as long as i didnt earn over my stated outgoings then I won't have to make any sort of contribution. I asked about student loan/grant I will be entitled to when I start my course in a few weeks, he said not counted as income so he has no interest (but I must make sure Student loans complany know I am bankrupt). My bank account was never frozen and Barclays has told me it can stay open, the OR does not want to know about any new bank accounts I open. He was very nice, said at the start if I needed a break to just let him know and that's it, one more thing all over with. :D Again thanks for all your help on this forum!
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By Nicky
#1263 Happy for you Clare, a weight off your shoulders no doubt :wink:
Thanks for sharing your experience with us.
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By lou
#1264 Glad to hear your OR appointment went well Clare,its nice to share others experiences, Me and my Hubby declared Bankrupcy on 28th of august and our OR appointments not till the 29th of sept and it seems like forever I just want to get it over with I am Feeling sicker by the day! :( Good Luck for the Future
Lou
By clare297
#1265 Thanks Lou,

I thought I had it bad having to wait two weeks and one day for my interview! I am sure your interviews will be fine, I was worried sick (much more than going to petition). My telephone interview was at 2pm today, I was sitting on the sofa with a copy of forms around me and pen and paper in hand. Phone rings just before 2pm, my stomach started churning, heart beatings fast, I fell week, answered the phone...... It was a bloody creditor asking why I hadn't payed them anything for a couple of months! Hello, bad timing or what! :x . To be honest I think the courts was worse than the OR interview but maybe that's because I didn't have to turn up anywhere and was in the comfort of my own home. Do you have a telephone or face to face interview? Good luck with your debt free life :D

Clare
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By lou
#1274 We have to go to the office,Everyone else seems to have telephone interviews so I keep thinking somethings wrong, Its all unsecured loans and credit cards though so there shouldn,t be a problem,Fingers crossed.
We got over the problem of creditors call us night and day by changing our number BT did it free, If only I could nail the letter box up I would be fine :lol: Good luck with your uni course
Lou
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By Nicky
#1281 I wouldnt worry about where it is taking place Lou, it could just be that it's more convenient for you to go into the office than to do it over the phone. Don't read anything into it which will only result adding more pressure on yourself.
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By lou
#1284 Thanks nicky I will try to stay calm, I can,t belive how Lucky I was to find this site everyones so nice and I don,t feel so alone now
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By JaneClack
#1506 Have been away so haven't posted for a while. Just as an update there are some Official Receivers who just do not do telephone interviews. It is that simple! So hope it goes well next week. :)
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By lou
#1519 Thanks Sarah only three days to go I will let you know how I get on
Lou
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By lou
#1560 At last its all over just come back from OR interview,He was really nice and put us both at ease. He said he would do my husband,s and my interview together and it only took about 2 hours for them both,He said he had no interest in the car ,which was a relief because I need it for work,he also said he had no interest in any pay rises or overtime which I was very surprised at,and he did not query any of our expenditure and only wanted 50% of our surplus so we were very very Lucky,He wished us well and that was it,so the long wait was worth it,So hopefully I might get a goodnights sleep.
Thanks to everyone on this site for all your help and advice
Lou
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By Brassick
#1561 Glad to hear it went so well for you Lou :D

Have a good sleep.

B
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By lou
#1563 Thanks Brassick,I will keep my fingers crossed everything works out for you too
Lou
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By Nicky
#1565 Well done Lou, really pleased for you. :wink:
BySonic
#1568 Hi Lou (and to everyone who's posted on this site)

Congratulations for getting it over and done with, and thank you for sharing your experience.

As someone who's currently considerating The Big B, I was very intererested to hear your experiences, and was wondering if you (or anyone else who might be able to help) would mind answering a couple of questions (sorry - I hope these are not too long!):

- what happened with regards to assets - i.e. apart from the car, did they ask about any other stuff such as TVs, DVD players etc?

- how long did the whole process take roughly (from filing petition to the OR interview?

- how far back did they go back into your credit history, did you have to show them statements etc?

Many thanks for your help
ByDavidc
#1569
sadnskint wrote:Hi Lou (and to everyone who's posted on this site)

Congratulations for getting it over and done with, and thank you for sharing your experience.

As someone who's currently considerating The Big B, I was very intererested to hear your experiences, and was wondering if you (or anyone else who might be able to help) would mind answering a couple of questions (sorry - I hope these are not too long!):

- what happened with regards to assets - i.e. apart from the car, did they ask about any other stuff such as TVs, DVD players etc?
A. They are of no value secand hand ....you can pick up a new dvd for £30
- how long did the whole process take roughly (from filing petition to the OR interview?
A. Two Weeks

- how far back did they go back into your credit history, did you have to show them statements etc?
A. As far as they have to until they are satisfied. If you do not have statements they simply call for copies from your creditors
Many thanks for your help

Your welcome