- Wed May 22, 2013 10:56 am
Yes you are doing the right thing, giving yourself and your kids a clean break, a fresh start and that is what bankruptcy does.
I've had a quick look at the company you mentioned and they dont appear to have any negative comments elsewhere, but they do not actually list their fees, and though I know it is me, I always feel odd if they are not listed, but a I say that's me.
No the OR DOES NOT
contact your child's school, your employer but can contact your landlord (to prevent that make sure you have the proof of your tenancy and the rent is fully up to date).
contact your banks, so depending on who you bank with you may have to arrange for a different bank account, one that allows uncharged bankrupts.
Yes the OR WILL
go though your Canadian bank, sorry but they will not take your word that you only have $20 in there, they will want to see all the proof to make sure it isn't actually $20,000,000. So yes they will want to see what has gone in and out, this is very normal practice.
If the fees for you sons schooling are in line with national fees for schooling in Canada, the OR will permit them in his calculations, and most certainly if you son is in his final years then the OR will not change anything.
If you have the account numbers then that is the battle won, do not worry about the statements, the OR will get them and process them for you. So no you do not have to give the CC companies your address.
Just for the sake of clarity, and to put you at ease, the OR is not going to be draconian, especially as he will see most of the debts relate to you past divorce (HINT make that clear and show how you did this in Section 13 of the paperwork). To be honest as you do not have any assets as such, and damned all excessive income, then I suspect after an initial phone call with you, the OR may well quietly move you case to the 'Do Not Look At Again' pile, and that will be it. Remember the OR is NOT allowed to work at a further loss that is already there, so yes he may look at an IPA if there was sufficient excessive income, but with exchange rates, banking costs, etc, he will not move that way unless there is significant income to be had. In this case it sounds as if there isn't, so I suspect this wouldn't be looked at.
Now the car, that is the mystery item. If you have sufficient income, and there is a need for it (such as work) and assuming the car is on HP rather than bought with a loan, then the OR will not be interested in it so will allow you to keep it. However, it is down to the finance company to decide if you do or you dont. Now as I have said before if you can show a need, and the ability to keep all the repayments up, then most secured deals seem to let you keep the car. So to speak this is the only spanner in the works, as it is down to the finance company/bank.
Remember the ORs job is to find out what went wrong, and if possible get some of owed money back for the creditors, but in doing so they do not and are not allowed to leave you in danger of homelessness, in danger of losing your job, mess up children's basic education, leave you in a situation where you cannot pay basic bills ect, and leave you in further debt.
In this case the OR doesn't really know what the situation in is Canada, or what things cost, and yours seems to be an open/closed simple case. I suspect the OR may well move your case to the 'Do Not Look At Again' pile, as to look at it again will cost the OR money, and our government do not like that!
If the company has not you about them, there is a form that will need filling in, I've linked to it below, so you can see the type of information the OR will need (Form 6.28).http://www.bis.gov.uk/assets/insolvency ... rm6-28.doc