br on monday and dont know what to take with me?

lornio

hi being forced into br on monday by the co -op who we only owe a 1000 pound too!! myself and my husband were planning on going br anyway but now this has come up and we are now to appear in court on monday together i asume cos the debt is joint. we dont want to contest it, whats the point we owe hundreds of thousands to vaious people just seems they are doing this br together and i thought it would be individual and we would have forms to fill in? cccs said to take a copy of our income and expenditure, list of debts and a breif statement of how we ended up in this mess. is this correct iv not got a clue what to put down and cant get through to cccs must be so busy? im scared what will happen, i had a nervous breakdown over this and find it hard to talk about it and look at it perhaps i should just leave it up to them to sort out but i guess then we will be left with not a penny god i need some help?????? x

peachyprice

Hi lornio,

As it's a creditors petition you don't need to take anything with you. You will receive forms to fill in after the court hearing, and they will tell you what paperwork they want from you.

It sounds like they're doing you a favor, it's certainly going to save you a lot of money.

The court hearing really isn't anything to worry about, it's not court like you see on TV with wigs and big benches, it's just a man or woman in a suit in a room. Everyone in the court in the BR dept. are usually very helpful and non-judgemental, and from my experience of when we were waiting for our BR they treat the individual far more kindly than the banks.

There is a possibility though that co-op will pull out at the last minute, some creditors use BR s a threat and take it right to the wire before chickening out, especially if the realise they won't get anything. So make sure you get to the court and make it clear to the judge you are happy for them to make you BR, otherwise it could be adjourned if the judge thinks he's doing you a favor.

HTH

lornio

thanks for your kind words i dont feel i deserve them right now. my situation is confusing my husband was trying to wait till his divorce had lapsed five years only twelve months to go so it did not affect his settlement and his children or ours. but i guess its not worth worrying about now. we have lost our house and are supposed to go to court about that in two weeks time im sure they would make us bankrupt anyway for the shortfall so i guess this is the best option all round. would we still go to court for the house or not?? x

peachyprice

Hey, don't beat yourselves up, sometimes life sucks, but you still have to make the most of it. Hopefully this whole mess will be over for you soon.

What effect do you think BR might have on your OH's divorce, did he sign his house over to his ex?

You don't have to go to court for the repossession, but if you're happy to let the house go you can write to the judge and tell them you're happy for immediate possession to be granted.

HTH

fatou256

take something to read in case you have to wait . however i know how you feel i had a nervous breakdown partly due to my BR too but i can tell you BR is not an end itself and there is light after the tunnel ! do you have any family / friend member who can offer you extra support ?

lornio

hi yes he signed it over with a tie in for him of 22 thousand when his youngest son turns 18 he is only six now and he gave her the rest and all its contents on the understanding she did not touch his penstion i have looked into this on many occasions and the or can overturn any decision made within five years of a divorce if there is money to be taken they can also force her to re -mortgage or sell and i asume she can then go after his penstion which will leave us with nothing in retirement as he is 40 now!!how do you pay rent when you have no income in your 70s. the irony of all this is that it cost him 20 grand to divorce her in the first place and cost her nothing i dunno anymore seems like the more you fight the more you loose..... i am currently trying to save my job and going through a discrimination claim wondering if its all worth while in the end x

lornio

ps
is there any chance what so ever we could stay in our house i miss home so much? x

peachyprice

Yes, a very complicated situation with the divorce and house. There are alternatives, the OR could put a charge on the property for your OH's £22k, that might be worth looking in to, was that all done through the court?

Have you left your home yet?
If you can afford your mortgage and something towards the arrears you may be able to stop the repossession. If there is little or no equity you would most likely not lose it once you're bankrupt, the arrears reduce your equity so they could in fact work in your favor.

How much is the house worth, how much is the mortgage and can you afford it?

lornio

hi yes his divorce was through the court, and yes we left our home six months ago time has just flown by i miss our old life so much we had a mortgage with northern rock a "together mortgage" and also have a loan on top of that all three things are lumped together and total 250 thousand we reccon the house is now worth 200 at best maybe less if sold at auction who knows the repayments on interest only have come down to a 1000 per month now but were 1500 when we left! which is why we had to leave,we pay 1000 pound per month rent so i guess we are 12 months in arrears i dunno i just wanna go home, but i wanna feel safe knowing we can afford it, and this nightmare wont happen all over again but then dont wanna keep moving house every few years with my little girl in tow???????? x