Newcastle upon Tyne OR Experience

Simpsona

Looks as though it will take about 4 weeks to come through then if I ring now? Did you find it a panic doing the froms in 3 weeks or was it ok? Best of luck for tomorrow!!

scotty1978

best of luck for tomorrow. I spoke to the court today - next avail date is early march so im going for that - have set up my co op account and have requested forms!! here we go!!

let us know how you go tomorrow

kezza90

hello bankrupt novice, i went br thru newcastle court on 25.11.08 and it was fine, i made an appointment a few weeks before, then went down at 10am, handed in forms, they checked them, i took 3 copies (make sure you take 3 as a guy i seen the same day got charged £21 by the court to copy them) i swore on the bible paid my cash. it took probably 10 mins at the most, i was then told to go away and come back at 12. when i came back at 12 i had to wait and was then told to go and see the judge, he just asked if i knew the consequences of bankruptcy and i said yes, he then signed the papers and i had to go back and see the first lady i saw at 10am. she gave me a copy of the paperwork and told me my br number and that was it!!! i have honestly sat on the toilet for longer...lol....i know it doesnt make that much difference saying it but really there is nothing to worry about!!

Good luck tomorrow xx

PockettMoney

scotty1978 wrote: »

best of luck for tomorrow. I spoke to the court today - next avail date is early march so im going for that - have set up my co op account and have requested forms!! here we go!!

let us know how you go tomorrow

I personally found it easier to fill the forms in online, using the example availabel in the 'sticky' at the top of the thread as a guideline. At least that way I was able to make amends where required, not have to worry about making mistakes and ruining the form, and also meant I could save my progress and complete at my leisure without having paperwork all over the place. In actual fact, took me two days to get the form finalised.

Of course, if you don't have access to a printer then it's not really a viable option!

Simpsona

Well my printer has just packed in last night! Typical, hopefully I can fix it! Do I just ring the number listed for Newcastle Court or is there a certain number to ring?

Bankrupt_Novice

PockettMoney wrote: »

I personally found it easier to fill the forms in online, using the example availabel in the 'sticky' at the top of the thread as a guideline.
quote]

I used the Insolvency Service Website online form service - hasn't really been too complicated and as PockettMoney says you simply fill in what you can in half hour or so, then just save what you've done and go back to it later.

My wife and I only really started to look at the forms seriously about three days ago, though we had made notes and jotted various bits of information down that we had noticed on these forums over the last few weeks. I have to say that my form took most of yesterday to complete, I started on my wife's form this morning at 8am and have just finished and printed all 3 copies of each - i.e. three copies of my Debtors Bankruptcy Petition, 3 copies of my SOA, 3 copies of her Debtors Bankruptcy Petition and 3 copies of her SOA - my poor printer is smokin':mad:

Now because I haven't taken a salary for the last couple years (wanting the the best start for the business, that's a laugh!!) we actually decided on doing joint SOA forms, it simply didn't make sense to do seperate ones unless I had my own income, which I don't. From what I've heard about OR's if they are dealing with a couple going through Bankruptcy together who share all debts and bank accounts etc (as we do) they prefer to deal with all income and expenditure as Joint, not seperately. If its wrong they'll simply explain this to us during the interview process.

I notice from another thread Simpsona that you had a failed Catering business - snap!! Was that a Ltd company?

We were based in Newcastle and trade was superb for last couple of years until Summer hit and BOOM - trading just collapsed, but my NE1 rent did not!!! The discretionary spend market is taking a hammering because of this recession and I feel for anyone else in Catering who's struggling to keep things afloat - actually I regret not doing this 5 months earlier as I we just increased our debt in hope of the Christmas rush which turned out to be more of a Christmas Hobble!!

We were a Ltd company and fortunately we were in a position wherby we could pay an Insolvency Practioner to Liquidate the company -an excellent guy based in North Shields who didn't charge the earth - however we had various Personal Guarantees, i.e. one with the Landlord for the rent (a huge London based company but as yet have only had one letter saying "Happy New Year, where's your rent!!" HA HA.) We could manage all of our own debt and debt we'd put on our own cards to help the business but we can't manage to pay the £40k p.a. rent which has 8 years remaining - we're liable for the whole of the remaining term, i.e. £320,000 until a new tenant comes in but with things being so bad at the moment I can't see them reletting the property quickly, especially at that rent.

Hey ho!! So the bankruptcy awaits, only viable solution. 37year old, no defaults ever, excellent credit rating and all down the swanny!!!

SO have a look on the Insolvency Service Website Online Form section - its much much easier.

Bankrupt_Novice

Just ring the main switchboard and ask for the Bankruptcy department:rotfl:
The lady will take a few details and give you the next available date.

March from what Scotty1978 was saying.

So many people going through the same thing at the moment so none of us have anything to be ashamed of - for gods sake even countries are going bust, look at Iceland!!

Once you've finished your Forms you can save the document onto your computer as a PDF file and its saved on the Insolvency Site anyway so least you can make a start until you get access to a new printer or manage to resuscitate yours!

Simpsona

Hi Bankruptnovice, kinda snap! Mine is a slightly differnt venture with a small cafe area. We thought the food side would take off and it did for a while but I agree with you this whole situation is really bad and had I had a crystal ball I would never have started a business when I did! What about drawings, I like you never took a wage as such but as a sole trader have taken small amounts of random drawings to get by from week to week, its all logged but not set amounts by any means but lately as things have been so tight its all getting muddled ie using personal bank to do cash and carry run one week then using shop money to pay the mortgage the next! just trying to keep head above water and 3 kids to feed. 38yrs old too and like you never missed a payment and Hubby and I have worked all our lives! And I'm still worrying about other people ie staff member and Landlord! Time I started putting myself and my family first now I think and move forward. God that was a waffle and a half! lol

Bankrupt_Novice

I personally couldn't give a stuff about the landlord - commercial landlords overcharge and have done for years so don't worry about them, they'll have made a nice little nest egg from their properties long ago, and from what you've said about them they don't seem to be a very nice bunch. When I was a Landlord I used to be really nice with my tenants and never had any problems, can't understand these heavy handed types!!

We were really worried about our employees too. We used our credit cards and our savings to pay the rent so that we could trade right up to 24th December, we could not put them out of a job before Christmas.

We decided that telling them before Christmas would be awful, we simply could not do that. They kept asking me for the post-christmas rota so I just had to keep putting them off saying, "just forget about that for now".

I told them on 27th, just contacted them and explained we would not be opening. Now your employees are probably brighter than you think and will have guessed things haven't been well trading wise with your business, and if they are keen on the news they'll undertstand what the country is going through! Most of my employees were really bright but not the slightest bit interested in what was happening in the world - so if any big company announced its closure, like Woolies, I made a note of telling them so that they could understand that the economy was failing.

Anyway I've digressed - I told them on the 27th and they were just fab. On the 28th they helped me empty the entire shop of all of its Valuable Assets/Equipment etc etc so that the Landlord could not seize them.

We were like a family and thats the hardest thing to deal with, not seeing them day in and day out. We still keep in touch a lot, everyday, in fact I'm having a post-Bankruptcy party this very Friday night to which they are all invited!!

So don't worry bout telling your employees - one of my employees got a job ten minutes after I told him he was unemployed and the others found catering jobs within two weeks - so there are still jobs out there!!

You concentrate on you, your family and getting your life back on track!!

Simpsona

Hiya, went off to bed shortly after my last post only to be woken twice through the night with my youngest bless! She normally never wakes through the night and hubby an I are normally up til the early hours as so much on our mind! I'm gonna start a new thread asking advice on commercial leases? But just wondered as you were in catering if you had any experience in this? I cancelled all 3 leases this morning in writing, well they are not happy bunnies!! One rang me straight up and left a voicemail saying I am seeking advice from personal debt management companies and that business leases are completely different! he said that if I didnt call back today they would issue Legal proceding immediately! Company is Shire Leasing and dont know if you havr any experience with these guy but they are a nightmare!! Awful on the phone and really threatening and patronising! Now I'm panicing thinking I was acting 'silly' by cancelling in writing if I wasnt covered by the guidelines in the consumer credit act 1974? Which they qoute all the time but apparently I cant?? very Confused! Hope it all went well for you at court today!!