Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • curtismum
    • By curtismum 4th Nov 17, 10:26 AM
    • 5Posts
    • 0Thanks
    curtismum
    Gone bankrupt and had or interview. What next?
    • #1
    • 4th Nov 17, 10:26 AM
    Gone bankrupt and had or interview. What next? 4th Nov 17 at 10:26 AM
    Hi all. I have had my bankruptcy approved and had my or interview yesterday. My questions are as follows:

    1- what will the or tell my creditors about my bankruptcy?

    2- can my creditors stop the bankruptcy going ahead?

    3- How in depth will the or go regarding my finances and what's been spent?

    I am a real worrier about things like this. So much so that I have had a breakdown over doing it and am suffering with severe panic attacks.
Page 1
    • GazHatesBanks
    • By GazHatesBanks 4th Nov 17, 1:19 PM
    • 149 Posts
    • 152 Thanks
    GazHatesBanks
    • #2
    • 4th Nov 17, 1:19 PM
    • #2
    • 4th Nov 17, 1:19 PM
    The OR will simply inform your creditors that you are bankrupt. Be aware that this can take a few weeks, so if you are contacted by the creditors in the meantime, just have your bankruptcy reference number to hand to give to them.

    A creditor cannot stop a bankruptcy going ahead - remember bankruptcy is a court order and no creditor is higher in authority than a court! IF they suspect that you have acted fraudulently, they can indicate this to the OR.

    The OR will want (or obtain) your statements for 6 years. All they are really looking for is large spends close to your bankruptcy, new loans/finance close to your bankruptcy, a history of gambling or large preferential payments to friends/family. They are not going to want to know why you spent £25 at Tesco.
    • curtismum
    • By curtismum 5th Nov 17, 10:45 AM
    • 5 Posts
    • 0 Thanks
    curtismum
    • #3
    • 5th Nov 17, 10:45 AM
    • #3
    • 5th Nov 17, 10:45 AM
    Thank you. My only concern is that my husband is self employed and paid all of his takings into my account then I transferred the money to his account to pay the bills he has. Would they question this and say that I was giving money to him?
    • GazHatesBanks
    • By GazHatesBanks 5th Nov 17, 12:12 PM
    • 149 Posts
    • 152 Thanks
    GazHatesBanks
    • #4
    • 5th Nov 17, 12:12 PM
    • #4
    • 5th Nov 17, 12:12 PM
    They may question it, but as long as you have a paperwork trail showing that it was money that he had earned e.g. invoice issued, payment received into your account and transferred you should be ok.

    It's not unusual for couples to share the money in this way although it would be better for his self employed income to be paid into a completely separate account and then transferred to personal accounts as necessary (it also makes the accounting for it on his tax returns easier).
    • curtismum
    • By curtismum 5th Nov 17, 12:30 PM
    • 5 Posts
    • 0 Thanks
    curtismum
    • #5
    • 5th Nov 17, 12:30 PM
    • #5
    • 5th Nov 17, 12:30 PM
    Thank you so much. You have been a real help and helped to settle my nerves. I know I've done nothing wrong but can't stop thinking about everything. Obviously all of his takings now go into his account.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,135Posts Today

6,664Users online

Martin's Twitter
  • I believe I can boldly go where no twitter poll has gone before https://t.co/HA0jC92gAK

  • OK I'm wilting to public pressure and there will be a star trek captain's poll at some point next week

  • I can get that. My order is 1. Picard 2. Janeway 3. Kirk. Too early to say where Lorca will end up (or would you? https://t.co/kawtCOe9RA

  • Follow Martin