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Skinty McFlinty's BR Diary - what happened next....
SkintyMcFlinty
Posts: 95 Forumite
18 June 2008
I eventually got around to staring my debt in the face and had my telephone appointment with CCCS (it took 2 weeks from making the initial call). I was on the telephone to a counsellor for an hour and half, discussing my whole situation. And, after a few sleepness nights mulling things over, it was clear what I had to do and I made the decision to declare myself bankrupt with the realisation that I’d be losing my house and, more than likely my car, by doing so.
So, firstly, I cancelled all direct debits currently set up on my bank account and started to look for a rental property. I wanted to be upfront with the estate agent/landlord about my intentions so there were no nasty surprises for them or me when the official receiver gets involved. Luckily, I found something the first weekend I looked, talked things through with the landlord who had shown me around and put a deposit down that same day. At the time of my credit scoring, things were looking good as I’d yet to miss my first payment and I passed that with flying colours. They did not ask for 6 months rent in advance and I certainly couldn’t have offered it!
So, after a tense couple of weeks thinking the landlord would get cold feet, I finally got a move date and started to hunt for packing boxes. I moved at the end of July. It was relatively stress free and a little bit numbing really – I couldn’t decide whether it was just the act of moving or the emotional detachment from my house that was affecting my mood but I was in a foul one throughout. I was a little upset when I first got the keys and didn’t really want to do a lot of anything in the new place and had to leave after being there a while. My mum understood though.
The tears didn’t come until a few days later when, after emptying most of the remnants left in the old house, I drove off with tears in my eyes and became quite upset. I realised that I’m pretty much teetering on the edge at the moment in terms of emotional release. I managed to rein it in but its probably best that I let it out sooner rather than later.
One of the first jobs I had was to book my bankruptcy appointment - 4 September!:eek: :eek: The Courts are really imposing and a bit scary looking – they make me nervous all by themselves. Eek! Anyway, a friend has very kindly offered to come along with me which I’m really grateful for. So, I MUST get the BR forms finished asap.
I’ve managed to set up my mail re-direct which took 5 working days to come into effect. I’ve also placed ads in the free mags for the washing machine, tumble drier and electric cooker so hopefully will get some cash for them soonish.
31 August 2008
The weeks since moving have been strange. I’m fidgety and unsettled. And, without the internet (which went live just this week – hoorah!), I did feel cut off from one of my usual sources of support – this forum. Even as a lurker, I still felt calmed whenever I read about other peoples experiences.
As my telephone number changed when I moved, my mobile number too and I’ve got mail redirect – the pestering has been all but totally removed apart from via post and some of those letters have had me in a panic - which I guess is exactly what they're supposed to do. I’m still nervous when I visit the old house to check for any stray postage (which hasn’t happened as yet), in case a debt collector happens to be waiting for me but so far so good. My BR date is 4 September and I’m pretty much getting a racing heart as I think about it.
I’ve been putting off filling in the forms for over a month and as usual have left things until the last minute. But, yesterday, I managed to complete my forms but now I have a few questions about things I wasn’t sure of – I hope you don’t mind but I’m going to ask them now:
I eventually got around to staring my debt in the face and had my telephone appointment with CCCS (it took 2 weeks from making the initial call). I was on the telephone to a counsellor for an hour and half, discussing my whole situation. And, after a few sleepness nights mulling things over, it was clear what I had to do and I made the decision to declare myself bankrupt with the realisation that I’d be losing my house and, more than likely my car, by doing so.
So, firstly, I cancelled all direct debits currently set up on my bank account and started to look for a rental property. I wanted to be upfront with the estate agent/landlord about my intentions so there were no nasty surprises for them or me when the official receiver gets involved. Luckily, I found something the first weekend I looked, talked things through with the landlord who had shown me around and put a deposit down that same day. At the time of my credit scoring, things were looking good as I’d yet to miss my first payment and I passed that with flying colours. They did not ask for 6 months rent in advance and I certainly couldn’t have offered it!
So, after a tense couple of weeks thinking the landlord would get cold feet, I finally got a move date and started to hunt for packing boxes. I moved at the end of July. It was relatively stress free and a little bit numbing really – I couldn’t decide whether it was just the act of moving or the emotional detachment from my house that was affecting my mood but I was in a foul one throughout. I was a little upset when I first got the keys and didn’t really want to do a lot of anything in the new place and had to leave after being there a while. My mum understood though.
The tears didn’t come until a few days later when, after emptying most of the remnants left in the old house, I drove off with tears in my eyes and became quite upset. I realised that I’m pretty much teetering on the edge at the moment in terms of emotional release. I managed to rein it in but its probably best that I let it out sooner rather than later.
One of the first jobs I had was to book my bankruptcy appointment - 4 September!:eek: :eek: The Courts are really imposing and a bit scary looking – they make me nervous all by themselves. Eek! Anyway, a friend has very kindly offered to come along with me which I’m really grateful for. So, I MUST get the BR forms finished asap.
I’ve managed to set up my mail re-direct which took 5 working days to come into effect. I’ve also placed ads in the free mags for the washing machine, tumble drier and electric cooker so hopefully will get some cash for them soonish.
31 August 2008
The weeks since moving have been strange. I’m fidgety and unsettled. And, without the internet (which went live just this week – hoorah!), I did feel cut off from one of my usual sources of support – this forum. Even as a lurker, I still felt calmed whenever I read about other peoples experiences.
As my telephone number changed when I moved, my mobile number too and I’ve got mail redirect – the pestering has been all but totally removed apart from via post and some of those letters have had me in a panic - which I guess is exactly what they're supposed to do. I’m still nervous when I visit the old house to check for any stray postage (which hasn’t happened as yet), in case a debt collector happens to be waiting for me but so far so good. My BR date is 4 September and I’m pretty much getting a racing heart as I think about it.
I’ve been putting off filling in the forms for over a month and as usual have left things until the last minute. But, yesterday, I managed to complete my forms but now I have a few questions about things I wasn’t sure of – I hope you don’t mind but I’m going to ask them now:
- In Section 3, Assets – do I list all my furniture in fixtures and fittings? I also have various pensions from various jobs – do I list these (they’re what I’ve paid into and won’t pay out until I’m 65 – I’m only in my 30’s)?
- In Section 3.2 – I used to have an endowment policy about 7 years ago for a house I sold, do I mention this as I haven’t got any details whatsoever?
- In Section 3.4 – do I mention all my pensions (they change every time I move job and I have about 3 or 4 with little amounts in them)? Some of them I have no details for.
- In Section 3.9, Do you have use of a motor vehicle that you do not own? How do I answer this when I’m on my mother’s insurance but she uses her car daily, so I kind of do but not as a replacement for my own. Plus, why are they asking the value – they can’t take this car away from my mum can they?
- Section 7 – Will post my Outgoings separately – don’t want to scare you lovely people away!!
ALWAYS HAVE A PLAN B
BSC #167
BSC #167 0
Comments
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Hi
Section 3. Assets - I didn't put anything in this section. I think that you have to declare expensive items (probably worth over £1000 per item). All my furniture is cheap and most of it is old or second hand so is probably worth next to nothing.
I noticed that we are petitioning for bankruptcy on the same day. My Dh & I go to court at 10:30 am on Thursday 4th September.
I have completed my SOA and my DH is nearly finished his. We are taking our SOA's to the CAB so they can check them for us.0 -
Hi Jaks - thanks for that. My furniture is mostly second-hand too so will leave that section blank.
I've drafted my SOA (is that same as outgoings?) but will be posting it here and hopefully chatting to the BR Team at CCCS - dunno whether I'd be able to get an appointment at the CAB in time as that sounds like a very good idea.
Good luck for Thursday - you'll have to let us know how you get on, as I will do - if I my hands have stopped shaking! I'm really nervous.
ALWAYS HAVE A PLAN B BSC #167 0 -
SkintyMcFlinty wrote: »
I’ve been putting off filling in the forms for over a month and as usual have left things until the last minute. But, yesterday, I managed to complete my forms but now I have a few questions about things I wasn’t sure of – I hope you don’t mind but I’m going to ask them now:- In Section 3, Assets – do I list all my furniture in fixtures and fittings? As the previous poster said, you only list items that are of high value.I also have various pensions from various jobs – do I list these (they’re what I’ve paid into and won’t pay out until I’m 65 – I’m only in my 30’s)?You are required to list them, but the O.R won't do anything with them, unless you've been making large payments into them to the detriment of creditors.
- In Section 3.2 – I used to have an endowment policy about 7 years ago for a house I sold, do I mention this as I haven’t got any details whatsoever?An endowment policy is an asset and can be converted into cash, so you should list it. Having said that, if you "forget" it's highly unlikely that it'd come to light.
- In Section 3.4 – do I mention all my pensions (they change every time I move job and I have about 3 or 4 with little amounts in them)? Some of them I have no details for.Just give what information you can, as above, the O.R doesn't do anything with them.
- In Section 3.9, Do you have use of a motor vehicle that you do not own? How do I answer this when I’m on my mother’s insurance but she uses her car daily, so I kind of do but not as a replacement for my own. Plus, why are they asking the value – they can’t take this car away from my mum can they?Don't mention it. It's not your car, and it'll only complicate things unnecessarily. You might have to bring it up in a meeting with your O.R to justify any contributions you make to it, e.g. petrol.
- Section 7 – Will post my Outgoings separately – don’t want to scare you lovely people away!!
Hi Skinty,
I'm not really firing on all mental cylinders at the moment, but the questions you've asked are reasonably straightforward.
I'm sure the attachment to your old house will diminish as time moves on, and it'll be quickly forgotten.
Regards
Richard0 - In Section 3, Assets – do I list all my furniture in fixtures and fittings? As the previous poster said, you only list items that are of high value.I also have various pensions from various jobs – do I list these (they’re what I’ve paid into and won’t pay out until I’m 65 – I’m only in my 30’s)?You are required to list them, but the O.R won't do anything with them, unless you've been making large payments into them to the detriment of creditors.
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Hi Richard - thank you for clearing those up for me. I'll try and hunt out everything I have on my pensions.
I still have the keys for my old house - is it too late to send them back to the Northern Rock? I haven't told them I'll be going down the voluntary repossession route as yet. I don't know what to do for the best. Will handing back the keys make it easier for the OR?
Sorry to hear you're not yourself, hope its nothing too bad
ALWAYS HAVE A PLAN B BSC #167 0 -
SkintyMcFlinty wrote: »Hi Richard - thank you for clearing those up for me. I'll try and hunt out everything I have on my pensions.
I still have the keys for my old house - is it too late to send them back to the Northern Rock? I haven't told them I'll be going down the voluntary repossession route as yet. I don't know what to do for the best. Will handing back the keys make it easier for the OR?
Sorry to hear you're not yourself, hope its nothing too bad
Hi Skinty,
There's no reason to send the keys back at this point and you should be very careful of voluntary repossession. NR will try to get you to sign a Deed of Acknowledgement, which will complicate the process of any shortfall being included in your ankruptcy.
Wait for them to commence repossession proceedings, and don't sign anything from NR. If you do a search for all posts by fermi, you'll see the relevant legislation in one of his recent posts.
It's nothing bad,:D all self inflicted, and the whisky bottle is winking at me even as I type.:beer:
Richard0 -
Hi Richard - The CCCS advised me to hand the keys back to the NR but as always I've kind of had my head in the sand as i didn't want to talk to them - I'm no good at confrontation. So, will the OR not mind dealing with the whole repossession stuff - or does that fall down to me? I'm a serial lurker so have come across various posts regarding not signing anything NR send, so was going to use the letter someone very kindly posted to send the keys recorded delivery. I guess I'm reluctant to wait for the repossession as I just want this all over and done with. Not sure what to do now
That whisky bottle is naughty! ALWAYS HAVE A PLAN B BSC #167 0 -
Hi Skinty,
I can understand you wanting to get the whole thing done as quickly as possible, but it's much better to wait and not to rush things with possible repercussions for the future. There have been posters on here who've gone the voluntary repossession route but you do need to be very careful.
The O.R won't deal with the repossession. NR will issue a Repossession Order, and if you don't defend it the order will be granted. Any shortfall when the house is sold will be included in your bankruptcy, and you don't really need to do anything at all.
I agree the whisky bottle is naughty. She's got all the right curves, and has a lovely straw coloured complexion.:D
Richard0 -
Hi Richard - okay, I'll just go with the flow and let them repossess in their own time, which I've seen on other posts can be over 6 months. When they repossess will they ask me to send the keys to them then? Also, the buildings insurance expires at the end of September - does that leave me exposed (so to speak)? Am taking a deep breath as I type
So, has the wicked whisky temptress seduced you yet?
ALWAYS HAVE A PLAN B BSC #167 0 -
SkintyMcFlinty wrote: »Hi Richard - okay, I'll just go with the flow and let them repossess in their own time, which I've seen on other posts can be over 6 months. When they repossess will they ask me to send the keys to them then? Also, the buildings insurance expires at the end of September - does that leave me exposed (so to speak)? Am taking a deep breath as I type
So, has the wicked whisky temptress seduced you yet?
Hi Skinty,
Once they've got a repossession order in place, they'll just change the locks, so there's really no reason at all to send them back.
I'm not sure about the buildings insurance, and the policy should be updated to reflect that there's nobody living there, which will increase the premium. I'm sure if the place burnt down you wouldn't be liable, because you bankruptcy would cocer any debts incurred there. I would advise them by Recorded Delivery that you intend to vacate the premises on whatever date, and advise that the Buildings Insurance policy will lapse at the end of September.
I'm afraid the Amber Seductress has indeed worked her magic, and I'll be very shortly whisked off into a quiet and restful place.:D In other words, I had too much to drink last night, can't remember going to bed, and will shortly be falling asleep at the computer.:rotfl: :rotfl:
Richard0 -
Hi Richard - I informed the insurance company that the premises were vacant at the end of July and they said they'd cover for 60 days. So that bit is sorted. I've also detailed this in my br petition. Are you saying I should also tell NR I've vacated or were you just meaning the insurers?
Sounds like you had a good night then - just a shame you can't remember bits! Thats the Amber Seductress for you!! ALWAYS HAVE A PLAN B BSC #167 0
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