19 yrs on do i still have to say i have been a bankrupt

Broken_hearted

Its something you are told at the tim BR is for life, thats the exchange for not repaying the debts. In the long run being Br could cost a person more than the debts which were written off. Perhaps advisors should make this clear when advising it .

RAS

mom23 wrote: »

My only option (taken on advice) was to declare myself BR.
Then get rid of hubby!!
Anyway remind me never to ask a question on this board again :rotfl:

Mom

Please be assured that neither IP or BH are membrs of the BK board, just coming in asking awkward questions that you are not required to answer.

It is none of our business what happended all those years ago, although based on your comments, I admire your pluck sorting it out.

RAS

Idiophreak wrote: »

I think it's just bad luck that you had me wandering in when you asked tbh

Precisely

Dear MoneySavers....

This is a difficult board - many think bankruptcy too easy - and I dare say in some cases it is. Yet others have been through hell, seen family and home torn apart, and its a welcome and deserved release.

I didn't set up MSE to be personally judgemental, but to help people whatever their circumstances. If you have problems with the Bankruptcy laws then the 'Discussion Time' forum is the appropriate place.

This is to help people who are bankrupt rehabilitate their finances - and I personally wish them all the best - whatever their circumstances.

Many people who have gone bankrupt, have had serious debts, have hidden them for a time, been scared to confront them, suffered depression or have even had suicidal thoughts because of them.

So may I caution MoneySavers to err on the side of kindness. The fact bankrupts are here means they're looking for help, guidance and to take charge of their finances - and that in itself is admirable

Please use your knowledge and kindness to help rather than to berate.

If you feel it’s important to point something out that the poster may find negative but needs to understand, then it's not a problem, but do think carefully about your phrasing - people can be very sensitive and nuances may mislead when it’s in an online Forum.

Martin



Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.

Idiophreak

RAS wrote: »

Please be assured that neither IP or BH are membrs of the BK board, just coming in asking awkward questions that you are not required to answer.

Your implication that I was asking "awkward" questions is rather conflicting with "Please use your knowledge and kindness to help rather than to berate"tbh. I was asking a question, nothing "awkward" about it.

Ironically, it seems that by not being a member of this, seemingly insular, community I'm not entitled to have queries about the subject, so I guess this is how the ignorance and misunderstanding that surrounds the topic is perpetuated. Oh well, at least you can say you did your bit...

Broken_hearted

Its also true of those paying their debts back, most people at some point in their life have been to hell and back, some are still there.

skylight

This is a nice board.

Idio - its probably best if you have any specific questions on BR then to start your own thread. If you make it clear that you are not here to flame then your questions should be answered, but jumping on someone elses thread to satisfy your own curiosity does not go down to well here (as you can see!).

On BR and DFW its full of some of the most vulnerable people on MSE and emotions run very high. We are regularly spammed/trolled by idiots who take pleasure in making people who are already on their lowest ebb feel even lower, so most posts such as yours are usually met quite quickly with a defensive attitude.

Richard_S

Idiophreak wrote: »

Call this ignorant, BR bashing, or whatever else, but surely the people you owed money to still aren't getting their money, even after a long while? You're still getting the benefits of BR (ie not paying stuff back), so perhaps you have to accept the downside still, too...or is that not how it works?

Hi Idiophreak,

I would certainly call it ignorance.

The concept of bankruptcy is to address a person's, firm's or company's insolvency at a particular point in time, i.e. the date of the Bankruptcy Order, and to realise assets, and assess future income, and then distribute what is available to creditors.

There's no benefit to anybody to punish somebody indefinitely who has had to declare bankruptcy. It's unfortunate that sometimes, as the OP demonstrated, there doesn't seem to be an end to the implications. I'm sure that given time, these inequities will be addressed and legislation amended accordingly.

This Forum isn't "insular", and any "ignorance and misunderstanding" is almost always displayed by people with little or no understanding of bankruptcy and how it fits in with the economics of a country like ours.

Richard

callow

My understanding is that the only time you can answer "NO" to the question "Have you ever been bankrupt" is if you have an annulment.

This is when you have paid all your bankruptcy debts and the fees and expenses of the bankruptcy proceedings and you make an application for annulment.

My ex did this 15 years ago. He became bankrupt through laziness, basically not paying bills. I think the amount was £1000. When I met him we got together enough money to pay the debts and all the fees. He ended up paying about 3 times the original amount he was made bankrupt for. It took a while and he had to go the the High Court for the annulment.

We did this so we could buy a home.

LilyBart

Hi Mom23,
Very sorry you had to deal with that rather insensitive question, and bravo for handling it with such dignity. I hope Richard is right and there will be changes to the law so that BR isn't a life-sentence of awkward situations with everything from insurance to savings accounts! Anyway, I admire your pluck too!
Lily

Broken_hearted

Changes in the law would be unfair on those who do pay the debt back, what would the point be if BR has no consequences. The country is in a bad enough mess without being pushed over the edge.