Joining the BR Club

Flowerpot_2

Trolley_Dolley wrote: »

Hi All,

My boyfriend is going to be going BR at end of this month and we are just making sure we have the procedure correct, dont want to mess it up.
Im going to put his SOA on here for you all to quickly look over before we do yo make sure it looks ok, we did this a few weeks ago but it will need one or two adjustments.

1. Already set up his co-op cashminder BR account
2. Cancel direct debits to creditors with old bank
3. When he gets paid 26June withdraw cash for use rest of month
4. 29June filll in SOA and debtors petition on insolvency website
making copies of the forms - Would register & start filling in the forms asap TD - 36 pages worth, takes a while to complete :eek:
5. BREATH A HUGE SIGH OF RELIEF!

Please let me know if ive missed anything out here, thanks everyone

slowandsteady wrote: »

You probably already have done this but make sure you have ALL bank/credit card/loan etc statements and account numbers and addresses and the same if anything has been passed to debt management companies. Will make filling in forms a lot easier, also i was asked for the last 12 months of bank and credit card statements. However that was a year ago and i think they are a lot busier this year.

My OR asked for the last 12 months of bank & credit card statements & 3 months of pay-slips (I went BR this month) - they understand if you don't have all the info as they can get hold of it anyway but it obviously makes their lives a lot easier Also I had to wait a month for my BR appointment

Good luck TD
Flowerpot x

Trolley_Dolley

Flowerpot wrote: »

My OR asked for the last 12 months of bank & credit card statements & 3 months of pay-slips (I went BR this month) - they understand if you don't have all the info as they can get hold of it anyway but it obviously makes their lives a lot easier Also I had to wait a month for my BR appointment

Good luck TD
Flowerpot x

Hi Flowerpot, omg your kidding me! There are 36 pages to file for BR!
Blimey....how long did it take you to complete all that?
Can you save stuff then go back another day if I start completing it all this week or does it all have to be done at same time?
I will keep together as much of the financial papers I can for the OR which isnt much to be honest since he shreds everything. Think that was initially a way of burying his head to be honest and hiding it from everyone!

tigerfeet2006

You will find with a lot of questions you will be able to say not applicable as it is a one form fits all scenario. If you register to do it on line then you can do a little bit at a time and save it. Makes life a lot easier.

Flowerpot_2

Trolley_Dolley wrote: »

Hi Flowerpot, omg your kidding me! There are 36 pages to file for BR!
Blimey....how long did it take you to complete all that?
Can you save stuff then go back another day if I start completing it all this week or does it all have to be done at same time?
I will keep together as much of the financial papers I can for the OR which isnt much to be honest since he shreds everything. Think that was initially a way of burying his head to be honest and hiding it from everyone!

Sorry TD didn't mean to scare you ! The 36 pages incorporates all - debtors petition etc., & as Tiger feet says not all the questions are applicable. Once you've registered online you can save/edit at will, even when you 'submit' you are allowed to view & edit again until you submit & then finally 'lock' your submission.Do 'save' as you go Personally, once I'd booked my court date I had a month to play with, so I did have lots of time :rolleyes: I'm not saying you need to take as long as I did (:eek:) but I am saying it will take you more than a day or two - its easier to do a bit at a time really
My OH will be going BR shortly & he has very little/none/shredded/lost paperwork either :rolleyes: However as long as the account numbers are there/list of creditors etc., you'll be able to fill in the forms ok - hope this helps
FP x

Trolley_Dolley

tigerfeet2006 wrote: »

You will find with a lot of questions you will be able to say not applicable as it is a one form fits all scenario. If you register to do it on line then you can do a little bit at a time and save it. Makes life a lot easier.

Oh thats brilliant Tigerfeet, my OH is useless on a computer so it will be me that will be sat filling the forms in, think i`ll get meself a bottle of wine ready while im doing it :rotfl:Glad i can fill it in then go back to it as i`ll start doing it over the next few days then when its all been checked i`ll submit it.
Im just a bit unsure about one thing though if you wouldnt mind advising me. Given there are lots of people going br now a days would it be better to try and book a court date now or wait until weve completed all forms?
Never been near a court in me life and neither has me other half so not sure what we need to do here

Thanks

Trolley_Dolley

Flowerpot wrote: »

Sorry TD didn't mean to scare you ! The 36 pages incorporates all - debtors petition etc., & as Tiger feet says not all the questions are applicable. Once you've registered online you can save/edit at will, even when you 'submit' you are allowed to view & edit again until you submit & then finally 'lock' your submission.Do 'save' as you go Personally, once I'd booked my court date I had a month to play with, so I did have lots of time :rolleyes: I'm not saying you need to take as long as I did (:eek:) but I am saying it will take you more than a day or two - its easier to do a bit at a time really
My OH will be going BR shortly & he has very little/none/shredded/lost paperwork either :rolleyes: However as long as the account numbers are there/list of creditors etc., you'll be able to fill in the forms ok - hope this helps
FP x

Thats ok Flowerpot, personally im one of those people who would rather know what im letting myself in for then its easier to deal with. U say you set your court date first then had a month to fill you forms in?
So really theres no rush to actually complete the SOA and bankruptcy forms if your court date wont be for a while then? I thought he had to fill the forms in first before applying for a court date?
We will both be renting a house together and moving in on 29 June so we are paniking about what is the right time to fill the forms in since we feel its better for him to go BR at his current address with his parents before moving in than in our new address. Also his parents dont know about the BR so we want to minimise the amount of hassle he will receive so they dont suspect anything is going on.
I want to get all the forms filled in in the next few days since we wont have any internet access from 29 June until the new connection which could take up to 10 days. Also feel its best to just get on with the process now he has FINALLY accepted and come to terms with what he needs to do to get himself out of this bottomless pit of debt

sieve

Hi TD,

First I'd like to say good luck to you both and well done on your boyfriend for tackling this problem head on.

There's not much I can really add to the excellent advice you've been given above but I just wanted to make you aware that filling in the forms is not binding in any way to becoming bankrupt. You don't need to have done them before you book court (you just need to havee them completed by the time you go and see the judge). Also whatever you do don't tell the creditors you are going BR as they'll just up the pressure.

As for parents, is there any particular reason why he doesn't want them to know? I was in a similar situation - parents not well, they'd had a terrible run of bad news for the few months preceding my BR, so I wanted to keep it from them as they'd only worry themselves stupid, but once I had told them and showed them that I had done my research and this really was the best thing to do in the situation, they were totally and utterly understanding of it and really supportive. I was completely dreading it (more than the bankruptcy itself and speaking to the OR) but it was the best thing I could have done and afterwards I wondered why I was so worried in the first place. Be aware too that it is public news, so if they (or nosey neighbours/relatives etc) read local papers there is a very real chance that they'll find out about your bf's bankruptcy anyway and it's hard to disguise the mountain of mail from bankruptcy companies once you have gone BR so it'd be best if he could tell them.

Good luck, I hope it all goes well - call your court this morning to book a date and then you have something to aim for.

Cheers,

S

fiveyearplan

He needs to stop paying all his creditors now. That is just dead money that he could be using post BR. It is far more important to make sure rent/mortgage, council tax and utilities are all up to date.

Trolley_Dolley

sieve wrote: »

Hi TD,

First I'd like to say good luck to you both and well done on your boyfriend for tackling this problem head on.

There's not much I can really add to the excellent advice you've been given above but I just wanted to make you aware that filling in the forms is not binding in any way to becoming bankrupt. You don't need to have done them before you book court (you just need to havee them completed by the time you go and see the judge). Also whatever you do don't tell the creditors you are going BR as they'll just up the pressure.

As for parents, is there any particular reason why he doesn't want them to know? I was in a similar situation - parents not well, they'd had a terrible run of bad news for the few months preceding my BR, so I wanted to keep it from them as they'd only worry themselves stupid, but once I had told them and showed them that I had done my research and this really was the best thing to do in the situation, they were totally and utterly understanding of it and really supportive. I was completely dreading it (more than the bankruptcy itself and speaking to the OR) but it was the best thing I could have done and afterwards I wondered why I was so worried in the first place. Be aware too that it is public news, so if they (or nosey neighbours/relatives etc) read local papers there is a very real chance that they'll find out about your bf's bankruptcy anyway and it's hard to disguise the mountain of mail from bankruptcy companies once you have gone BR so it'd be best if he could tell them.

Good luck, I hope it all goes well - call your court this morning to book a date and then you have something to aim for.

Cheers,

S

Thanks Sieve thats good to know it can be done anytime, takes the pressure off a bit as theres enough to do at the mo with moving house.
Its his own pride that is preventing him from telling his parents, it took a lot to initially tell me then a few months later he confided in 3 of his close friends. Its all part of facing up to the situation I guess and accepting what he needed to do to sort it out.
Ive suggested he tell them but it has to be his decision and at the moment he isnt prepared to do that, maybe in time he will.
We know that when you go BR its in the local paper and hopefully it will go unnoticed, if not then he`ll have to deal with it.

I personally feel that once the court date is set it will all be over before we know it and we can work on getting through the next year on the pathway to a debtfree life. I have very little debt as im careful with my money and i`ll be working on ensuring my boyfriend also adopts my lifestyle regarding finances.

Thanks for your help though, everybody on here are fantastic and the last 5 months of reading posts and finding out what his options are has been made a lot easier by this website and the kind people who post on it to help others through what theyve been through.

:A

Trolley_Dolley

fiveyearplan wrote: »

He needs to stop paying all his creditors now. That is just dead money that he could be using post BR. It is far more important to make sure rent/mortgage, council tax and utilities are all up to date.

Thanks for that but he has been living with his parents as he could never afford to move out and he has never defaulted on a payment so everything is up to date and there are no arrears.
Our first step toward a future together is us now moving in together and he will now have the normal monthly living expenses etc that we all have which is why he can no longer make any of the minimum payments.
July will be the first month of no payments to any creditors and the direct debits are cancelled so we are ready for the calls to commence