6 months on since declared bankrupt

wannaBfree_3

Well its been 6 months now since me and my husband have declared ourselves bankrupt and I now know that we did the right thing.

My husband thought it was the best way to go, I however was a bit more dubious. But we now have no debts, we live in rented accommodation in a house which is far better than our own house and never in a million years would we ever be able to buy a house like it.

I have a cash card bank account with Barclays where I have a visa debit card and can access my account online which is a big thing for me. I really didn't like the idea of having an electron card as I buy most of my stuff online.

Our house is still up for sale £50,000 cheaper than it was valued last year. And because of the way the economy is at the minute I am really pleased as I feel we did the right thing. We have also been told that we should be discharged by nexy month - fingers crossed altho I am not too sure what this actually means as in how it affects us.

I am however waiting for a down side, where something arises that we have not yet thought of. We still get letters from debtors demanding their money which I have been told will probably continue.

Anyway I thought I'd share our story for those who are finding themselves in a position where bankruptcy maybe the answer.

rog2

Sounds great, wBf - I hope you get your Early Discharge as the 'Icing on the Cake'. :beer:

beentheredonethatstilhere

Thank you for posting your story up, I am sure it will help people who are going through the process at the moment.

If you get any letters just send them on to your OR to deal with the companies.

rog2

wannaBfree wrote: »

We still get letters from debtors demanding their money which I have been told will probably continue.

I had letters, and phone calls from creditors for several months into my bankruptcy period. At first I referred them to the OR, but they still continued to phone and write (MBNA and MERCERS were the worst offenders). In the end I just ignored the letters and would just place the phone handset on the table when they rang.
They did, eventually, stop.

iquit

Thanks for sharing your story. Good luck with ED.

dalip

Glad things are moving in the right direction for you both.Good luck with ED,let us know if you get it.Dx

MissCynical

WannaB, thanks for sharing that. I opened a cash card account with Barclays after BR in January and also had online banking. Now my online banking has been withdrawn because I have had a bankruptcy marker put on my account. I have spoken to the Legal Team, telephone banking and the Online Help Team but no joy. After calling my branch daily and getting no reply I finally made it into my branch today and was told that I couldn't have the marker removed until after discharge which is when I'd be allowed online banking again. I'm currently awaiting surgery on my back and have athritis in my hip and knees. I have to use telephone banking every day as my benefits are paid 2 and 4 weekly and my direct debits all go out on different dates. It's incredibly difficult to keep track of things. Did you already have an account with Barclays prior to BR?

blind-as-a-bat_2

MissCynical wrote: »

WannaB, thanks for sharing that. I opened a cash card account with Barclays after BR in January and also had online banking. Now my online banking has been withdrawn because I have had a bankruptcy marker put on my account. I have spoken to the Legal Team, telephone banking and the Online Help Team but no joy. After calling my branch daily and getting no reply I finally made it into my branch today and was told that I couldn't have the marker removed until after discharge which is when I'd be allowed online banking again. I'm currently awaiting surgery on my back and have athritis in my hip and knees. I have to use telephone banking every day as my benefits are paid 2 and 4 weekly and my direct debits all go out on different dates. It's incredibly difficult to keep track of things. Did you already have an account with Barclays prior to BR?

All new accounts as far as i am aware have internet banking, im sure i will be corrected if im wrong, but there may be an angle under the disabilaty discrimination act here if im right that you could use to your advantage, although some banks have been known to spit there dummy if questioned, when forced to do something they do not want do do, so a tough call really.

But if new accounts are allowed IB BR or not, i ont see why they can justify refuseing you, but wait and see if im correct before acting

wannaBfree_3

MissCynical wrote: »

WannaB, thanks for sharing that. I opened a cash card account with Barclays after BR in January and also had online banking. Now my online banking has been withdrawn because I have had a bankruptcy marker put on my account. I have spoken to the Legal Team, telephone banking and the Online Help Team but no joy. After calling my branch daily and getting no reply I finally made it into my branch today and was told that I couldn't have the marker removed until after discharge which is when I'd be allowed online banking again. I'm currently awaiting surgery on my back and have athritis in my hip and knees. I have to use telephone banking every day as my benefits are paid 2 and 4 weekly and my direct debits all go out on different dates. It's incredibly difficult to keep track of things. Did you already have an account with Barclays prior to BR?

hi, I had a current account with Barclays before I went BR then as straight after court I went into my branch and told them I had gone bankrupt and they offered me a cardcash account and told me I could have a visa debit card and online banking. I could always check my account online to see transanctions, but its only recently that I could pay direct debits etc online with the card cash account.

Also, my father went BR last year and had a cardcash account and he just recently went into his branch and asked for a visa debit card instead of hid electron card and they gave him it.

That's awful what is happening to you. I think its wrong that some people are getting internet banking and others can't, it should be the same rule for all.

CHRISTIE_2

Hi all, my first time posting on here although I have read through loads in the past and got lots of advice and ideas! I too declared myself bankrupt 6 months ago and it is definately the best decision I ever made! My debts were mainly from a mortgage that I took out with my ex partner and when we split transferred into my name. Within a year I was struggling to pay so tried to sell up. What I didnt realise is I had early repayment charges of £14k as I was tied into my mortgage for 10 years! There was no equity in the house and I was told the sale will be stopped if I dont settle the extra £14k . Mortgage company (Abbey) suggested I borrow the money from friends!! So, I couldnt sell the house, couldnt afford to pay the mortgage either. I tried everything, wrote to them, hundreds of phone calls etc but no help. I stopped paying and had 3 months to save as much as I could and find somewhere to rent. I then moved out and sent my keys to Abbey explaining what I had done. A voluntary repossession. A few months later they wrote to me to say the house had been sold for £40k less than I bought it for and I owed them a total of approx £65,000!! This was made up of the difference between the sale price and my mortgage, arrears and the early repayment charges. So to cut a long story short, I declared myself bankrupt in October last year, writing off credit cards and overdraft debts (managable) at the same time. It was the end of a couple of years of hell. It is such an amazing feeling!! One question - how do you get an early discharge? I had no idea you could until just now.

philnicandamy

You cant really get an ED....its a decision the OR makes in the end if you get your very lucky if you dont then its 12mnths!

for example

The OR will firstly send 'report to creditors' this is normally done within 8 weeks of the making of the bankruptcy order (your appearance at court etc). It's the initial report from the OR that tells creditors (amongst other things) the reasons for the insolvency and the likelihood of creditors receiving any payments from the estate.
The OR's office must then wait 3 months before they can consider starting the ED process if they feel it is appropriate.
For the ED, you have 14+7 days to return the IPOQ (I&E questionnaire..this is sent to you from the OR office if your considered for ED) after which the OR can write to the creditors to say that they will be applying for the ED and request any objections.
The OR's office must then wait 28 +7 days to allow creditors to reply. Then if no valid objections have been received, the ED notice can be submitted to the court.
So the quickest the ED could happen (in theory) is 56-57 days after the you get the ED/IPOQ letter.
it often takes longer and can even be shelved at any stage if the office is too busy with new cases as ED is NEVER a guarantee...