very worried

catdavlee

Hi everyone sorry to post again but had panic attacks again after reading more things on here about bankruptcy I posted a thread about my husband yesterday. is there anywhere i can get the true facts on bankruptcy ie wot happens exactly at court and what they actually look into regarding why its ended up with bankruptcy. My hubby is burying his head in the sand and i feel like i have the whole world on my shoulders, am i taken into consideration with the bankruptcy for example my car and my belongings what about things we have bought our kids for christmas please dont think im bein silly but after reading that they can take certain gifts back its really put the wind up me even more HELP PLEASE

spidwoman

Please dont worry.

I was petrified leading up to our court date! When we went there we saw a lovely bankruptcy clerk (you're very unlikely to see a judge unless the debts are caused by something like drugs or gambling etc). She literally just skimmed through the forms, asked if it was all true and we had to swear it was. She took our money, gave us our bankruptcy numbers and then we had to wait for her to ring the OR's office. We spoke to them, during which they asked about property, vehicles etc, then made an appointment to ring us at home for the proper interview.

Our appointment was at 8.45am and we out by 9.30, and that was a double appointment!!

As for the kid's things, don't worry. They won't be interested in them. Assets are only considered valuable items.

As for your car I don't know as mine is on Motability, but I would've thought it would be included, depending on it's value.

tigerfeet2006

catdavlee wrote: »

Hi everyone sorry to post again but had panic attacks again after reading more things on here about bankruptcy I posted a thread about my husband yesterday. is there anywhere i can get the true facts on bankruptcy ie wot happens exactly at court and what they actually look into regarding why its ended up with bankruptcy. My hubby is burying his head in the sand and i feel like i have the whole world on my shoulders, am i taken into consideration with the bankruptcy for example my car and my belongings what about things we have bought our kids for christmas please dont think im bein silly but after reading that they can take certain gifts back its really put the wind up me even more HELP PLEASE

There are lots of posts on here about peoples days in court and OR interviews. Unfortunatly no one can give you a definative a, b, c because all courts and OR's and peoples situations are different.

All that will be taken into consideration of yours is you CONTRIBUTION to the household bills. Anything that belongs to you is yours.

Nothing will be taken off your children, the only thing the OR is interested in is things of value like 50" plasma screen TVs or antiques. Things that will get £1k or over at auction.

Pllease try and not panic. Very hard I know. Give National Debtline a ring and have a chat with a human being about things.

Let me find some links for you.

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=01_bankruptcy

http://www.insolvency.gov.uk/bankruptcy/whatisbankruptcy.htm

(((hugs))) keep posting and asking questions.

stroppy

Hi again,
I know it can be scary and confusing reading some of the posts on here when you first come on, please try not to panic, everybody is here to help you and any question you have no matter how big or small gets answered.
Personally when we decided on the BR route my OH just wanted to do it and not talk about it,look at forums or anything else like that ..... me I had more of a fear of the unknown so first of all I spoke to the CAB,they were very helpful ( The guy I spoke to had actually been bankrupt himself 10 years previously, I asked him to send me out as much info as possible)I then worked my way through that and joined this forum, Hubby spoke to BDD as everything was in his name and hes more of a business person than me. Once we had the basics and a clearer order of which to do things I felt a lot better.
We have 3 small children and it was a really worrying time, like you I thought we would have everything taken from us and I dont think we slept for months.Its not the case, our life has changed but for the better,we have moved out of our house and into rental, we actually prefer it here now,It was just like having a fresh start.
Our car was on lease so that went back but we just bought a cheap run around.
The whole BR process on the day was over in an hour and hubby informs me wasnt scary at all.He was told at his interview they were doing many,many people because of failed pubs at the moment so it was all quite straightforward.
Never feel silly asking anything.... I think if you look back at some of my previous posts I started everyone with im sorry for asking this ....:o
I have sent you a pm as well
Stroppy x

catdavlee

hi thanx for that info its my hubby that would be goin bankrupt everything is in his name the pub lease etc its just hard cos he burying head in sand and im the one having to cope with everything another problem we have is if he goes bankrupt we will be homeless as we live above the pub iv bin to local council and they say they couldnt help other than put us on priority list which could still take up to 18 months i really am at the end

stroppy

Yes was just my OH that went BR too.
Is there any way you could get the money together to rent somewhere?

catdavlee

no we have no money at all the last bit we had in account was just over a thousand pounds and we had to pay the water with that yesterday cos thay came to cut us off and obviously we needed water so had no choice. the company we are with is enterprise and they are refusing to release us any beer cos of wot we owe they cant accept that if they release an order we could continue to trade to get a little more money in they are useless so we have decided once we have no beer left we have no choice but to close the doors and wait till they go to court to get us evicted not sure how long it will take them t do that x