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

Moderators: TalbotWoods, JaneClack

Bypetext
#349743 im in court early tomorrow, having a large gin to calm my nerves :-/
the whole thing is making me feel ill
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ByTalbotWoods
#349763 If all goes as normal, and from who you have posted up it will, then prepare for the biggest anticlimax ever....take a book to read to relieve the boredom..

And good luck on you debt free life

Tim
Bypetext
#349793 thanks, you make it sound EASY lol, but im feeling a bit weird and pixxxed off.
im a hard worker, i cant help it if the economy is ruined by bankers and such like,
i dont lay in bed all day, and i dont deal drugs, i get off my arse and get dirty, wots it all about eh !!!!!!
im furious to the point i might go and live in new zealand, let the losers have this country. lol
sorry rant over
Bypetext
#349923 all done, i now await a call from the OR ??
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ByTalbotWoods
#349933 Yep, if they haven't contacted you by Friday, give them a quick call, just to let them know you are in the system.

Occasionally the paperwork gets delayed (though not lost), though just the sheer volume of paperwork going back and forth.

Next step, if you haven't already done it, is open a Barclay's Cash Card Account, as no matter what the girl behind the counter at your normal Overshires Mr Blobby High Street Bank tells you, all the other accounts will be closed as you are now in a state of Insolvency. This has more to do with an argument the banks are having with the government at the mo.

Oh by the way, if ANY creditor contact you to make payment, just say calmly down the phone, I have been declared bankrupt my case number is xxx of 2012 at such and such county court. Accordingly you must direct your calls and correspondence to the Official Receiver at such and such office.

If they get snooty and continue to demand payment, then say
I am aware that is not illegal for you to ask me to make a payment, however, if I make that payment to you I would be committing a Criminal Offence, this is a fact you are fully aware of, and should you persist in asking for payment form me I will report you for the offence of Inducement to Commit A Criminal Offence, and offence which the Office of Fair trading has removed credit licences for. Now do you wish to continue to threaten your job and that of your employers?

Wait a few moments for them to go Errrrr Wazz That? Then hang up
Bypetext
#350003 ok i had a call from a girl on behalf of the OR. asking me numerous questions ive already answered earlier.
i am now waiting to be notified of my interview :-/ dont like it.
i had already opened a barclays account a few weeks ago as i wanted to get my direct debits in place for my household bills and mortgage, i told the girl this on the phone when she called me, she said she would right to the bank and advise them to let me keep the account as its not in debt. i also asked her if i was safe to put money in to cover my direct debits she replied yes, but ive been told by my IP that they may snatch it. im very worried about that as obviously i need to pay my bills.
just taking everything as its thrown at me really, what else can i do lol
i also have a cashplus account ive not mentioned, and not used yet if i get trouble from barclays i spose i'll have to change my direct debits again huffff
bloody nightmare.
im worried about keeping the right amount in the bank to cover bills, if i put too much in the OR will rob me of it ?
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ByTalbotWoods
#350013 First things first, the rules are now set by the OR not your IP.

yes you can put your money in to cover the Direct Debits etc, and no they wont snatch it (unless it is above you immediate needs), so only put in what you need.

If you had money in other accounts the OR will go for that.

Don't worry about the interview, as you were also a business, they have to do an interview, pretty much it will be the same as the questions on the form, but in a little more detail.

When it comes to the interview, be honest, and remember it often hurts our feelings when we are honest about money and debt, so be prepared to feel pretty miffed with yourself. The examiner will only be trying to find out what went wrong, and will not be apportioning blame. It is not unusual to feel like hell after the interview, but if you did all you could REASONABLY do to stop the spiral, then that is that matters. They are not there to try and trip you up.
Bypetext
#350073 oh dear it seems i forgot to declare one of my credit cards on the form i filled out. my head is everywhere at the moment, can i just call them and tell them. who do i call. im finding all this very hard to deal with.
plus i removed my bill money from my new barclays account yesterday as i was told they would take it. checked my account this morning and my council tax and water bills have been taken out. its now saying im over drawn. i'll go and put some money in as soon as they open this morning. my head is spinning i dont deal with stress very well at all.
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ByTalbotWoods
#350123 Yep, just let them know, you will be surprised how many people genuinely forget a card, a dormant bank account, etc.

Tip for you, write down a list of questions YOU want to ask the OR and take that with you to the interview, also take you card and account details with you, do it at the same time

In between you should get a pack of forms to sign and send back

The early days can appear to be very confusing, but that passes quickly and you get the "what next" stage .... normal reply to that is nown'ts next
ByJane1962
#350263 Hi

Just thought I'd let you know my experience of going bankrupt.

Both my husband and I went at the same time and both had to have interviews with the OR. I just took every piece of paperwork I could think of (a bit like packing the kitchen sink when you go on holiday!!) We had separate interviews and then a joint one.
We were allowed to keep out Santander current account as we are both still working and as far as I know none of your other accounts were closed (well we had very little in them anyway, just a couple of quid.
It is a very nerve racking experience but once we got into it the OR was very gentle and I think the only thing I had to change was my life insurane as I was told it was too expensive and I could get cheaper, which I did, my husband had to pay £50 to keep his as he is on medication and probably wouldn't have been able to get a new policy. We both kept our vehicles mine was on HP and my husbands is an old van that wasn't worth even £500.
We are now 2 yrs into paying our IPO and can't wait for next March when it will be finally over.
I have managed to get a vanquis creidt card and only use it sparingly and pay it off each month.
We just have to wait for December this year when I expect they will look at the value of our property to see if it has gone up in value but I don't think it will have and as we still have a secured loan on it, I'm hoping that we will be able to keep it.
When we get paid each month I just leave enough in to cover DD and SO and then we use cash to pay for everything we need.

Good luck with your interview and just remember you have done the right thing.. learn from your mistakes and enjoy being debt free.

Cheers

Jane
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