The January 2009 BR Club

startagain_2

delcon68 wrote: »

HI
I have been reading posts and wanted to add my story. I was BR on 16.01.09. my problems started when i split from husband in 2005. we had accumulated a lot of debt over the years taking consolidation loans out and then starting again some how always thinking we could manage our finances.
we split uo in 2005 sold our house as neither of use could afford to keep it. Myself and my son went in privatley rented accomodation as we could not get a council house, they said that i had made us homeless buy selling house, i had about 3500 from sale of house which went toward deposit and rent of private tennancy plus some furnture which was split.

I went to see CAB who were brilliant, i started on a DMP which was very hard as there was never any money left for my son, or myself to just have some fun with. My ex would come round with a wallet full of money and always in new cloths which were desginer. I did not understand it.................until i heard that he had made himself BR.

Then I found out the hard way when all joint debts came to me for satifaction. My ex had been living it up knowing full well that he was going to do this, and he got off scott free, he got early discharge, and never had to pay an ipa/ipo,not sure why as he earns the same as me.

Well I have been struggling along, paying my DMP. October last year another company came to me for payment of a joint loan, which i had forgotten about, foulishly i thought they had forgotten about me too. I just could not find any more money to pay them as well as the others. A lot of other stuff has been going on in the back ground, lost job, got new job, moved to a flat, moved to a shared house. Son lives with his father at the moment which is very hard to handle but hopefully for the best in the long run, well that is what i keep telling myself. Any way have had a lot to put up with and this was the last straw, so i decieded to go for an iva, i thought i would see an end to all my debt then. So i contacted a company who said that this would be ok and that they would sort it out for me. when i rang for an update they told me that i would not be able to go for an iva as i had would not be able to satify the Loan companies well debt collection companies, this was a difference story to what i was told originaly. They applolgied to me for mis-leading me with incorrect advice. All well and go but i had changed bank accounts as directed by them, and cancelled all D//D. I was in turmoil just this was all just before christmas. I sort advice from from CCCS etc and was advised to go BR. Filled forms out on line and then did 3 copies. Rang up insolvency help line for advise and was told the procedure, so i booked a court hearing. Telling my parents was the hardest thing, they dont do credit at all, but they were great, my dad even said i dont know why i had not dont this ages ago???!! My mother came to court with me, that morning i was a bag of nerves, unsure what would happen, was not sure if they would accept it. But the Clerk of the Court was a lovely lady, she did not judge me, she was great, really put me at ease. As with a lot of cases you have to come back later to see the judge but as i was a bag of nerves i think the Clerk of the court took pity on me and organised it so i saw the judge immediatley. He as none judgmental either, just wanted to check i had had advice and knew the implications, i said that i had and that i did, he said he was happy to sign it then. I could not belive it i was BR. Did not feel anything at all, just well not sure i still keep thinking that i will be stuck by lighting or some thing. I have got my OR telephone meeting next week, which i am worried about. I wonder if i will have to pay an ipo/ipa??? will keep you posted.

Hello and Welcome to both the board and the Jan Clan, delcon, and thanks for your story. You poor thing, getting lumbered with all the debts but at least you have done the right thing now and can look forwards and not backwards over your shoulder all the time.
We all seem to have good words to say about the clerks who work in the courts - they really do such good work and are so helpful and supportive. The only person who as a bit iffy with me was the court usher and she looked like she had a bad smell under her nose.......:D
Your OR interview is before mine, I have another two weeks to wait and yet my BR date was before you. It's been a long time!
I hope your interview is not too lengthy and that you are happy with the outcome. Welcome again to the forum, we are a very friendly bunch as you have probably seen if you lurked a bit before posting.
Good Luck and Best Wishes
SA

delcon68

thanks for words of support. I am worried about the Phone meeting. SOA not sure if i have done this ok, was going to post it up as others have but not sure how, if some one could let me know i will have a go.

Thanksx

redjellybean_2

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 950
Benefits................................ 0
Other income............................ 400
Total monthly income.................... 1350

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 200
Management charge (leasehold property).. 100
Council tax............................. 0
Electricity............................. 15
Gas..................................... 70
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 25
Mobile phone............................ 70
TV Licence.............................. 0
Satellite/Cable TV...................... 47
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 0
Petrol/diesel........................... 240
Road tax................................ 28
Car Insurance........................... 67
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 100
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 15
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 15
Entertainment........................... 20
Holiday................................. 10
Emergency fund.......................... 20
Total monthly expenses.................. 1352


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 1000

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 1,350
Expenses (including HP & secured debts). 1,352
Available for debt repayments........... -2
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -2

Personal Balance Sheet Summary
Total assets (things you own)........... 1,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 1,000

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

delcon68

hI

I THINK THIS IS IT??

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1233
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1233
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 390
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 100
Road tax................................ 12
Car Insurance........................... 20
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 200
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 15
Entertainment........................... 10
Holiday................................. 25
Emergency fund.......................... 20
Total monthly expenses.................. 1127

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 400
Other assets............................ 0
Total Assets............................ 400

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
ABBEY LOAN.....................15000.....100.......0
SAINSBURY LOAN.................11000.....90........0
WELCOME........................1000......56.85.....0
C/CARD.........................250.......5.........0
OVERDRAFT......................1000......20........0
CATALOGUE......................500.......40........0
CL FINANCE.....................250.......23.12.....0
Total unsecured debts..........29000.....334.97....-

Monthly Budget Summary
Total monthly income.................... 1,233
Expenses (including HP & secured debts). 1,127
Available for debt repayments........... 106
Monthly UNsecured debt repayments....... 334.97
Amount short for making debt repayments. -228.97
Personal Balance Sheet Summary
Total assets (things you own)........... 400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -29,000
Net Assets.............................. -28,600
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Marlowvian

Hi redjellybean,

You may want to cut and paste your SOA on a new thread in the Bankruptcy & Living with it Forum - If you start a new thread you will attract more input / guidance regarding your figures.

Just on 1st glance you can't include satellite/cable on your SOA, if you want it you have to pay for it out of your surplus. Same with entertainment.

Best wishes
Marlowvian

Marlowvian

delcon68 wrote: »

hI

I THINK THIS IS IT??

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1233
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1233
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 390
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 0 No TV?? No way, lol
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 100
Road tax................................ 12
Car Insurance........................... 20
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 200
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 No contents ins?
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15 Not always allowed but try
Haircuts................................ 15
Entertainment........................... 10 Usually not allowed
Holiday................................. 25
Emergency fund.......................... 20 Not always allowed but try
Total monthly expenses.................. 1127

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 400
Other assets............................ 0
Total Assets............................ 400

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
ABBEY LOAN.....................15000.....100.......0
SAINSBURY LOAN.................11000.....90........0
WELCOME........................1000......56.85.....0
C/CARD.........................250.......5.........0
OVERDRAFT......................1000......20........0
CATALOGUE......................500.......40........0
CL FINANCE.....................250.......23.12.....0
Total unsecured debts..........29000.....334.97....-

Monthly Budget Summary
Total monthly income.................... 1,233
Expenses (including HP & secured debts). 1,127
Available for debt repayments........... 106
Monthly UNsecured debt repayments....... 334.97
Amount short for making debt repayments. -228.97
Personal Balance Sheet Summary
Total assets (things you own)........... 400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -29,000
Net Assets.............................. -28,600
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Please see my suggestions above. All looks ok to me otherwise. Any other takers?

redjellybean_2

Thanks for that Marlowvian, will start new thread, all advise greatly appreciated, big day is Friday, I am crapping myself..lol.

delcon68

Thanks Marlowvian, for that. Good news my coop account is up and running. Got a knee opp on saturday so am thinking about that and that is taking my mind off my telephone interview, well sort of, i just want it to be done and dusted then i will know where i stand with money.

Marlowvian

delcon68 wrote: »

Thanks Marlowvian, for that. Good news my coop account is up and running. Got a knee opp on saturday so am thinking about that and that is taking my mind off my telephone interview, well sort of, i just want it to be done and dusted then i will know where i stand with money.

That is good news. Yeah put your money matters to one side for a minute. I think you are probably through the hard part

creditpunch

Hello All

Had my OR 1st call yesterday, came as a surprise they're luck I was snowed in and at home. SO all my prep was undone and I was 'um'ing and 'urm'ing all through. But got through it. I await my pack....but no mention of a second call what happens now??


CP