bankrupt today

ton1

I went bankrupt today at the high court in london. Being unemployed since Mar 2009 & having spent £360 a month on my debts & this was just paying the minimum it was a huge relief. The total debt was £15800. I never defaulted until BR. The money incidently came from my redundancy payment which is near its end.Though not exactly proud about going BR there is a sense of satisfaction in regards to some of the credit card companies 7 in total. MBNA in the end were charging me 30% interest & I could not have defaulted as I had a direct debit.

My question is this. As I was in a rush to go BR once I had made up my mind I started withdrawing my money from my bank account still unfortunately leaving £132 in the account at BR. I do not owe the bank(halifax) any money but I do owe their credi card division. Will the OR ask for all the money I withdrew in the days leading upto BR to share among my creditors??

shazbo

Hi ton, they didnt ask for ours back, we emptied our old account in dribs and drabs over a couple of weeks and it was never mentioned. They will take what you left though

pepsi662400

ton1 wrote: »

I went bankrupt today at the high court in london. Being unemployed since Mar 2009 & having spent £360 a month on my debts & this was just paying the minimum it was a huge relief. The total debt was £15800. I never defaulted until BR. The money incidently came from my redundancy payment which is near its end.Though not exactly proud about going BR there is a sense of satisfaction in regards to some of the credit card companies 7 in total. MBNA in the end were charging me 30% interest & I could not have defaulted as I had a direct debit.

My question is this. As I was in a rush to go BR once I had made up my mind I started withdrawing my money from my bank account still unfortunately leaving £132 in the account at BR. I do not owe the bank(halifax) any money but I do owe their credi card division. Will the OR ask for all the money I withdrew in the days leading upto BR to share among my creditors??

Hi

Well done for going bankrupt, it takes a lot to admit to financial re-organisation, well that's what I like to call it!

To put it simply, if this money represents funds you need for bills,food and general living expense, there should not be too much of a problem as the OR would understand that you need money to live on. Might be a good idea to contact Halifax and inform them of the bankruptcy and ask the OR to send a fax to your branch of Halifax to withdraw the full amount for bills. After-all it is only £132 not £132000!

Well done for going bankrupt has it can be mentally draining experience. It is a strange feeling once you have the protection of bankruptcy, but, in my experience, you will be ok and nothing horrid will happen. Take care

ton1

shazbo wrote: »

Hi ton, they didnt ask for ours back, we emptied our old account in dribs and drabs over a couple of weeks and it was never mentioned. They will take what you left though

Hi shazbo,Thank god I took out £200 on the morning of my BR hearing otherwise there would have been even more in my account. Wish I had taken the remaining amount but hey , I am saving £360 a month now so what the heck.

ton1

pepsi662400 wrote: »

Hi

Well done for going bankrupt, it takes a lot to admit to financial re-organisation, well that's what I like to call it!

To put it simply, if this money represents funds you need for bills,food and general living expense, there should not be too much of a problem as the OR would understand that you need money to live on. Might be a good idea to contact Halifax and inform them of the bankruptcy and ask the OR to send a fax to your branch of Halifax to withdraw the full amount for bills. After-all it is only £132 not £132000!

Well done for going bankrupt has it can be mentally draining experience. It is a strange feeling once you have the protection of bankruptcy, but, in my experience, you will be ok and nothing horrid will happen. Take care

Thanks for your good wishes. I think I am quite happy to buy my peace of mind for £132. We were told at the high court that the OR would contact us within 3 to 5 working days. You are right it is a mentally draining experience but I did not drag it. Once my mind was made up I rushed it through hence the balance left in the bank & not in my pocket.

dojoman

Don`t worry, you will be fine.

Holes_in_my_pocket

general living expenses are fine