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

Moderators: TalbotWoods, JaneClack

By agesofelegance
#4764 I had mine yesterday
went into room judge very kind, asked if I ahd anything to say re the petition, said no I had offered to pay it in installments it ahd been rejected, I was ill on benefits and couldn't pay in full otherwise it would have happened months ago. Said I had other creditors. Didin't ask to look at i&E or crediotrs list. So if court had no choice in the matter that would be fine no mention of IP before anything else.
My creditors were there and deflated by the fact I didn't fight (had realsied form this list best thing to happen to me). Judge said he had no choice and was sorry about that, checked his watch and wrote down the time. I thanked the judge, thanked my creditors and left teh room took less than 10 minutes, didn't show any paperwork I had with me
Was sent to speak to someone in teh chancery dept, who didn't know what would happen next or why i was sent there. wasn't given any paperwork or told to go back for any as others here have had to or hand my cards in, wrote the OR's info down fro me, went for a coffee, came home phoned them, they hadn't got my info back yet and said someone would phone me at some point this week and then things would be sorted, was very relaxed and friendly about everything and from what they were told the OR's office feel the crediotr has been ridiculous and cut off his nose etc, hope teh rest is as easy.
Still don't think my creditors realise how much of a favour they ahev done me and will no doubt give the OR grief when he can't find any money to pay them back.
will sort out bank accounts today and get my accounts up to date for teh OR and hoepfully will be plain sailing
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By JaneClack
#4768 Well done!

Keep us posted.
By agesofelegance
#4774 will do
just been to my bank to see if they'll let me keep the account open as it's only a basic cardcash account (Halifax)
she doesn't think so but head office has to tell me that and they don't let UB's have an account at all. wouldn't take my cards so still have everything here, have also emailed nationwide as I also have a basic cardcash account wiht them to see if they'll let me keep it so just waitng to here back.
haven't yet heard from the OR's office. Everythign seems very realxed and I'm just getting on as normal and no one seems to want to stop me doing anything which is weird, don't even have my papaers yet to prove it as they didn't ask me to go back to pick them up
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By JaneClack
#4775 You do not walk around with a big B on your forehead and will live like a lot of other people cash only for a while! It works :lol:
By agesofelegance
#4778 pretty much lived like that anyway as had crap credit rating form years of running a low profit business in london so not really a big difference to me. In fact will probably be more organised as I will haev to kep on top of my books which generally didn't get done until the last possible minute lol
By russianbear
#5695 I think i'm in a similar position also, iv'e been struggling on with a low profit business for about 2 years then got in big trouble around Christmas and I tried loads of loan companies to try and borrow about 5K which would have allowed me to pay off the creditrs and allow me to continue my business but despite having a clean credit record with no CCJ's etc for some reason I got rejected by dozens of companies so I just got fed up with it and gave up trying, it could have been with being self employed that made them keep rejecting my many applications so in a way I say to hell with the loan and credit companies, I don't care that my credit record will suffer after bankruptcy as i couldn't get a loan with a good record anyway but it's a bit annoying that if they had lent me a smallish amount I could have avoided all the bankruptcy in the first place aand been getting on with building up my business, it has though made me totally disillusioned with credit cards and loans and personally i'll be glad if I never saw another credit card!

Russian Bear
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By JaneClack
#5722 Ages of Elegance was the lady I was talking about Russian Bear!
By russianbear
#5742 Yep her posts have been very valuable Sarah, it really shows how the forum comes into its own when we all help each other!
By agesofelegance
#5749 glad to be able to and it's thanks to Sarah and the others here that I didn't panic and sailed through everything. I went so well I still can't believe it's happened yet and a month has gone already.
It's not soemthing I would have ever put myself thorugh and have always sturggled on an honoured all my commitments but there comes a time is someone won't play ball you think to hell with it let them do it.

I have a number of friends who are small traders who are now a bit jealous LOL and just look at how many famous business men were bankrupt before they made it big, I'm just embarrased it was for such a small amount