Wow-it's happened

kevker

Well, logged onto https://www.insolvency.gov.uk and did a search on my name, and there in lurvely black and white, it shows I'm discharged from my bankruptcy. And thus finishes one of the hardest years of my life, whilst also being very strange.

The stress leading up to the bankruptcy was awful, but during it, it was surprisingly non-eventful. The strangest thing for me was actually having more money post bankruptcy than before. All the bills got paid on time and I could even treat myself now and again (as the OR's examiner said, that's the reason they only take a percentage of youe excess, as they know that you need to have some sort of life).


So now I'm just waiting for my discharge certificate through, and then I will have to start sorting out my credit reports, making sure all the dates of defaults are correct etc.

I would just like to thank anyone who has given me support over the last year (especially Addicted2Chocolate who was a great source of information) and I look forward to hopefully supporting some people in the future.

As a final note, any advice people can give me now I am discharged (or how it affected you) would be much appreciated.

,hills

Well done to you, a big relief I bet

Never new you could search

I was cleared last April but searched and i'm not there.

What should i do regarding clearing credit reports etc

Any advice/help appreciated

thanks

Northernbird_2

Good stuff!

I realise you asked for advice, but could I ask you for some advice with regards bankruptcy? I've looked at a number of websites as to what it entails, but it doesn't seem to explain what it really means for thr person.

I'm still examining all of my options, and I'm fighting to pay everything off etc, but circumstances have recently changed for the worse and I need to research this so I know how it works:

1. What do they take from you in terms of personal belongings? I don't own a car or a house, but I have DVDs (that I'm systematically selling!), a piano (family gift), old TV etc... what do they look at to take?

2. Is it true they take your tax straight from your pay cheque?

3. How did it affect your working life not having credit cards? Did your company know?

4. What percentage of excess did they take?

I hope you don't mind my asking.

Good luck with everything! xxx

kevker

Hi Northernbird, I will try and answer your questions as best as i can;

1) from what has happened to me and other posts on here, it appears that not much is taken. They took my car even though it was worth only £350. They might look at your piano, not sure, but they are looking at high value items that are easy to sell.

2) In my case I paid my tax throughout the year. What should normally happen is that you get given an NT tax code, which means you don't pay any tax, then you have to pay the amount you would be taxed to the OR's recovery agents. In my case there was a mix up somewhere, so I paid my tax throughout the year. The OR will now claim that back off the IR.

3) My working life wasn't really affected that much tbh. My employer had no need to know I was bankrupt.

4) They took 70% of my excess. I was towards the higher end of the percentage as I have a fair bit left over. If you have less left over then it will be a lower percentage. If you have nothing left over, then obviously you won't pay anything. Just make sure and put down every single bill and expense, even if it is only a couple of pound. The examiner will soon tell you if it isn't allowed, but it's better to overestimate than under.

If I can help in any other way then left me know or pm me.

As for ,hills , after discharge you need to inform the credit companies that you have been discharged and enclose a copy of your discharge cerftificate. You also need to check your credit reports and makes sure your creditors show that you defaulted on your bankruptcy date, not later.

ozzyfan_2

Hi kevker

Just wanted to wish you good luck for the future & really happy for you that its now all over, you must be really relieved today

Well done for getting through it all & heres to the rest of your life! :beer:

Northernbird_2

Thanks. I really appreciate you answering my queries.

Good luck with everything. I'm glad it worked out for you.

xx

Emmzi

Kevker,

I'm pleased things have worked out for you. Good luck in the future.

earwig

well done it must be a great felling to see that your name isnt on that list anymore i cant wait for oh name to come of that list to but have to wait untill november though some poaple say it can be done in six months now dont know how true that is though what happens do they writre to you or do you not hear from them again about being discharged