Bankruptcy woes and pro's

Entrepreneur_en_faillite

Addicted2Chocolate wrote:

Come on, dont tease us like that, what have you done? and when? i can give you a rough idea of whether the conduct may warrant a Bankruptcy Restrictions order..... only conduct after 01st april 2004 can be considered for a BRO...
(assuming my bankruptcy is only a year as I have done some things that will make the OR's toes curl!)

Well, that does make me feel a little better. Most of the 'naughtiness' relates to prior to that date. However, I have been 'flexible' with my income on more than one occasion when getting loans and credit cards (I kick myself when I look at how Stoopid I have been, especially when you consider i was until last Fridays bankruptcy oredr a fully qualified IFA).

I have also drawn out some fairly hefty cash balances on the credit cards over the last few months that I feel would look a bit 'dodgy' to an OR

What do you think, am i a criminal?

Addicted2Chocolate

ok, well providing false information on credit applications about your income or employment status is covered by the theft act. I cant really say anymore, just be honest at all times with the OR. Prosecution matters are not limited by the 01/04/04 date, just BRO conduct.
With respect to the cash withdrawals, you should probably start thinking about how you spent the money. During interview or after by letter you may be asked to account for how you spent the cash. If you can account for most of it it should not be a problem.
Have you informed FSA you are bankrupt? better do asap and resign any directorships....

Entrepreneur_en_faillite

Addicted2Chocolate wrote:

During interview or after by letter you may be asked to account for how you spent the cash. If you can account for most of it it should not be a problem.
Have you informed FSA you are bankrupt? better do asap and resign any directorships....

I don't have receipts for the money spent, to be honest with you most of it went on 'unneccesary' purchases. I went through a 'stick your head in the sand' phase where I convinced myself that none of this was actually happening, so i went on spending sprees, which I now see as being really stupid, particularly as I have nothing to show for it.

This keeps me awake at night, so much so that I am now on tranquilizers and even they don't help. I suppose that I have now resigned myself to just taking whatever they throw at me, lying down and letting the OR and anyone else who feels like it trample all over me and do their worst. I hear prison food is quite tasty, and they have cable TV nowadays.

I have informed the FSA and resigned my directorships a couple f days before I did the deed.

Addicted2Chocolate

In accounting for the money, just a verbal account is all thats expected, you are unliekly to be asked to provide receipts. Eg £500 cash wthdrawal: spent £200 clothes £100 food shopping £200 eating out.
I really would not let the bankruptcy and what might happen worry you. Alsdo you must let OR know at earliest possible stage about your health. Let them know you are on medication maybe even provide a letter form your gp.
Please dont worry yourself ill, your health is more important than anything.

Entrepreneur_en_faillite

Thank you, I'm trying to keep a grip of the situation but sometimes it gets a little Overwhelming.

I am very grateful for your kind words, and if you think of anything else that may help me survive please let me know.

Addicted2Chocolate

I have sent you a personal message....

Entrepreneur_en_faillite

It's nice to know that I'm not alone - Thank you to everyone for your help.

tattooed_lady

Hiya E en F,

Don't know much about what you are going through so I can't empathise, but I have been in debt like the others on this board and can sympathise with that. I wish you all the best and make sure you take care of yourself xx

Entrepreneur_en_faillite

Hopefully I'll be able to contribute further to other forums and help out others who may be facing a similar situation to mine.

its the very least i can do in return for all the help i have received.

It's sites like this that restore ones faith in humanity!

tattooed_lady

Totally agree that this site is great and I'm sure that a few steps down the line you will be able to offer your advice and support to other dfw's