Dead accurate or Not

oregonuk1

I would like to know do you have to be very accurate when you put down how much you owe to credit cards loans in you bankruptcy petition just that by the time they her my petition my figures will be out of date by a month will this matter with the Official receiver?. Or could this effect me could I end up having to pay the interest they have added wile I wait to go bankrupt.


Oregonuk1

Holes_in_my_pocket

I just guessed dates and amouns i wouldnt worry to much as the OR will be able to get the infoi they require. I did mention it to OR when they phoned

oregonuk1

To Holes in my pockets i know when i pay my cards and loans when i last paid just that if i owed £10,000.00 on cards this could be 10,0250.00 by the time i am made bankrupt that would be a £250.00 differance

Holes_in_my_pocket wrote: »

I just guessed dates and amouns i wouldnt worry to much as the OR will be able to get the infoi they require. I did mention it to OR when they phoned

alastairq

the figures concerned will be best guess anyway..so don't worry.

Creditors MAY have offeredlower value 'settlements' of the debts....[which wont have left them out of pocket,I assure you]...which does one take?

what they said you owed?

Or what they're prepared to 'accept'?

The OR will sort all that out....the debt figures will be there in the petition to demonstrate one is actually insolvent, ie no money/assets to pay debts.

The same goes for amounts in one's bank accounts?

The OR has to contact creditors for statements anyway, in order to work out how to divide up your 'assets' between them


The Court will accept some discrepancies...Courts do allow for admin errors too.

oregonuk1

I have looked at it this way you can not be that accurate because interest and fees for not paying added all the time to your debts but I just wanted to know that they did not want it accurate to the close hundred pounds I know I can not do this not an accountant.


Oregonuk1

debtinfo

dont worry, if there is ever to be a payout to creditors they have to submit Proof of debts which give an exact figure

oregonuk1

did not know they had to prove what is owed i thought it was all on my own back as to say.

oregonuk1

When you take advice like I have from the CAB and the national debit help line they do not tell you lots of things I have found out here and they are legally meant to be in the know

debtinfo

Obviously they have limited time and resources, it would take an age to cover all the if's and but's and so they just tell you the bits they think apply to your case

oregonuk1

I do not think when you fill in your bankruptcy petition you can be spot on I do not get regular statements for some of my debts some are months behind like my loan

dollparts

Like others have said oregon, your petition will only be as acurate as it can be for one month at most. I completed the creditor part of my SOA in late August and didn't go to court until October. I have my interview in a few weeks and although I will bring this to their attention I'm pretty sure they will have expected the figures to differ one way or the other.

The most important thing to me was evidencing the fact I was insolvent.

As far as advisors go, there is no earthly way they could go through every eventuality and offer every consideration as each case is unique to the individual. I'm afraid much of the factfinding will be a learn as you go process-and of course everyone will help you in any way they can