6 months on since declared bankrupt

rog2

philnicandamy wrote: »

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...

That, phil, is the first time that I have seen the ED 'process' explained in plain English. :T :T

I'm not sure how 'hard and fast' those steps are, though - or if they are, in fact, followed in every case.

My only reason for saying this is that I received my ED notification 'totally out of the blue' and equally totally unexpectedly, six months into my bankruptcy period.

Are there different 'rules' for creditor petitioned bankrupts?

philnicandamy

Doubtful they're followed to the letter.....far as i'm aware you are still entitled for consideration of ED with creditor petitions...just most offices now dont seem to bother to inform you of the fact

rog2

philnicandamy wrote: »

Doubtful they're followed to the letter.....far as i'm aware you are still entitled for consideration of ED with creditor petitions...just most offices now dont seem to bother to inform you of the fact

Perhaps it was all going on 'behind the scenes' in my case, then phil.

I, genuinely, had not been expecting ED - no IPA/IPO had been awarded as I was not working at the time of my OR interview. A trustee had been appointed and was dealing with the question of my BI.

No indication of ED had been given and, since I was now dealing with a trustee, I fully expected my BR to go full term.

Not that I ever had any intention of refusing ED, though. :rolleyes:

wannaBfree_3

i thought i might just add. I told my dad that I might be getting ED as I had received a letter from OR. He then telephoned his OR and was told that he was already discharged they just hadn't bothered to let him know - strange i thought. And if he wanted a letter to prove this he would have to write a letter to request one.

philnicandamy

You can always keep an eye here (this is usually updated 1st)

http://www.insolvency.gov.uk/eiir/

wendywoo1982

wannaBfree wrote: »

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.

I was told it was a criminal offence for creditors to contact you once you had declared bankruptcy, and if they did to pass everything to the OR??

rog2

wendywoo1982 wrote: »

I was told it was a criminal offence for creditors to contact you once you had declared bankruptcy, and if they did to pass everything to the OR??

It would only be an offence if, once notified of your bankruptcy, a creditor continued to try to negotiate/hassle directly with you in order to gain 'preferential treatment' over your other creditors.

Otherwise it's just a pain in the butt. :mad: :mad:

But you are correct - any creditor that contacts a bankrupt should be referred to the bankrupt's OR/Trustee.

natalieterry

were do we start?
leaving our house voluntary in a few days because we cant pay mortgage and loans and the area is shocking,we are renting a lovely house but not sure were to start.
what do we do about utility bills?
what do we do about council tax?
do we just post keys back to mortgage company?
can we still be traced by creditors?
how long do we wait before going bankrupt?
any answers would be really gratefull as im not sleeping well.
thanks

fermi

natalieterry wrote: »

were do we start?
leaving our house voluntary in a few days because we cant pay mortgage and loans and the area is shocking,we are renting a lovely house but not sure were to start.
what do we do about utility bills?
what do we do about council tax?
do we just post keys back to mortgage company?
can we still be traced by creditors?
how long do we wait before going bankrupt?
any answers would be really gratefull as im not sleeping well.
thanks

I'm going to copy this post into a new thread, so you are more likely to get the help you need.

Here: leaving our house