2nd day of Bancruptcy

Peter_Pan · 8 November 2007 at 11:14PM

Well its two days into OH being bankrupt and after plucking up courage last night and this morning to answer the phone and OH explaining to creditors the phone has benn eerily quiet today and this evening.

I keep finding myself starting to relax now and then remember OH still has the OR interview to go and i keep thinking something really nasty(as well as losing the car that is which we have come to terms with) may yet happen.
Silly but i keep thinking if i relax something is bound to go drastically wrong - roll on the next stage getting over and done with asap.
OH seems to be sleeping much better (less tossing and turning) and he has even had the glimmer of a smile occasionally(can't remember the last time he was happy) and is definately easier going with the kids , its made us realise just how much we were on a threadmill and just kept going through fear i think and just how heavy the debts were and how much of our lives were taken up with juggling everything and worrying.

OH is feeling very guilty that he hasn't managed to pay off the debts and is dreading the OR interview (fear of the unknown and suffering from low self esteem and anxiety just gets everything way out of proportion in his mind), hope we don't have too long to wait before he is put out of his misery.

fermi · 9 November 2007 at 10:37AM

I hope the interview comes round quickly.

Each person reacts to BR in a slightly different way. Some are euphoric, while others just see it as a confirmation of failure (I don't), and then every other reaction in between.

Like your OH (and you) it's often very very hard to break the habit of worry, and when that happens it just gets transferred to the next big step. That's natural, expecially when confidence is at rock bottom.

But things really do get better, but as with most things it needs a little time.

I'm sure you don't need telling all that:o, but it helps to write it.

tigerfeet2006 · 9 November 2007 at 11:34AM

(((((((((((hugs)))))))))))))))))

You have each other and that is the only thing that matters. You've both been through a lot and are still together, that counts for so much. Look after each other.

Peter_Pan · 9 November 2007 at 3:45PM

Thank you, got the OR telephone interview through this morning for Wed so not too long to wait thank goodness.

fiveyearplan · 9 November 2007 at 4:42PM

Good luck for Wednesday!

ANDENA · 10 November 2007 at 4:33PM

Peter_Pan wrote: »

Thank you, got the OR telephone interview through this morning for Wed so not too long to wait thank goodness.

my daughter went BR a year ago she cried when she went into court room,it was,nt hear fault her 4 year old boyfriend rang up debts then she got loanto pay it all off plus she had two contract phones. 19 years old to have debts at that age her debts was £23,000 .had no option spoke to OR THEN they take it from there you might get people chasing you but OR will tell you to send of BR NOTICE so get plenty copied. after that you will hear from him every 3 to 6 months to your income has not changed and that is that,now my daughter is BR free she lived with us but our credit rating was never effected it is only for a year but my daughter said its nice to be free from debt she is so happy now.click my scales if this was usefull

Robflh · 11 November 2007 at 7:13PM

Hi Peter Pan

Peter_Pan wrote: »

I keep finding myself starting to relax now and then remember OH still has the OR interview to go and i keep thinking something really nasty(as well as losing the car that is which we have come to terms with) may yet happen.

If I read that right, you had to sell the car. If you do not mind me asking, were you allowed to buy another one (for less then a thousand) and why did they make you sell the car.

Peter_Pan · 11 November 2007 at 7:49PM

Robflh wrote: »

Hi Peter Pan

If I read that right, you had to sell the car. If you do not mind me asking, were you allowed to buy another one (for less then a thousand) and why did they make you sell the car.

Think i may have confused you - sorry.
OH went B/C last week and his OR telephone int is a week on Wed (thought it was this wed but its not -oops!!)
OH needs a vehicle for his employment(not just getting to work and back but during his employment) so we have asked for consideration for it to be exempt BUT as its worth approx £3000 or a bit more we have come to terms that hes going to say we have to get a lower priced one and ours will be auctioned by OR.

As i understand it a vehicle has to fall into the exempt cataegory for the OR to allow you to have a vehicle and if it does and if its value is over £2000 and will raise a few quid for the creditors it is auctioned and the OR allows you up to £2000 to buy another one suitable for the job or you(family or friends) are given a chance to raise the funds to buy it back.
If it doesn't fall into the exempt category the vehicle is taken and auctioned off and the money is split between creditors.

tigerfeet2006 · 11 November 2007 at 9:03PM

PP there has been instances of people being able to keep their cars worth that amount. You have to present a really good case though.

Write down a list of why you need to keep this car and post up here, some may be able to help you present a case.

fermi · 11 November 2007 at 9:12PM

tigerfeet2006 wrote: »

PP there has been instances of people being able to keep their cars worth that amount. You have to present a really good case though.

Write down a list of why you need to keep this car and post up here, some may be able to help you present a case.

Yep. Vix for one example.

That was worth £3K I think. But it was needed as they lived somewhere rural and had kids that needed regular hospital visits or something similar.

Again, the OR does have discretion, and they aren't all mean about cars.

madoldbat · 11 November 2007 at 9:28PM

PP you & your OH are just avrage people,after years of 24/7 stress it is hard to belive you are back in controle.The OR interview should go ok most of us have had a much smoother ride than we expected.All you need to remember is that the guys/girls in the OR office are like you and me doing a job & its much better if their polite and warm they will get through their day better.
As the days go on and your confidence grows its a wonderful feeling.Getting to the end of the mont without an overdraft or better still a pound or two left is a fantastic feeling.
You OH should not feel guilty he has had to do this to save his sanity and your family,his creditors lost no sleep over making his life more stressful with phone calls and letters making demands he should now lose no sleep over them.
Big hugs to you all .

2nd day of Bancruptcy

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