Few questions regarding bankruptcy

roses_babe

hey guys im due to go bankrupt on the 26th this month im started to get scared now ive done my reading and this seems the right option as i owe about 17.000 citizens advice and national debtline have recommend me going bankrupt but i have a few questions before.

1.Last week i took out a mobile contract as mine is about to expire i took this out for my fiance as he got declined one will this be held against me??

2.what is a or what does he/she do?

3.if it gets declined do i still have to pay?

4.will my age affect the bankruptcy as im only 20 will they inform my parents even thought i havnt lived with them for 3 years?

5. what actually happens on the day as im going by myself


thanks guys

Doucam

Hi roses-babe,

1) It is not advisable to take out credit knowing you are going BR, I take it though that you won't be including it in your BR?

2) The OR basically establishes reasons for BR, checks your statements and that you haven't acted recklessly, there will be other things which someone more knowledgeable will come along with later I am sure!!

3) Very rare for it to get declined I think.

4) I don't think age comes into it, and unless you are including your parents as a creditor in your BR then no.

5) You go to court, take 3 copies of your forms, and the money, see a clerk who checks the forms, takes the money and gets you to swear that it is all correct, you may or may not see a judge, if you do they go through your form and ask if you have taken advice, you have so that's ok, and they will ask if you know what BR entails, you then go back to the clerk, and get a copy of the BR order, probably a quick call to the OR's office to go through a couple of bits and then that's that. You go our debt free!!

Hope that helps a bit.

roses_babe

thank you for your quick reply i wont be adding my mobiles on there just hope they cant find out when i took them out. im not in arrears with them which is good

do i need to take my letters that the debt collectors send me with me?

confused76

hi

no you don't need to take your letters to court. after court sometime in the following weeks you will receive a letter from the OR asking for bank statements, cards and payslips to be sent to them.

for court, all you need is your fee in cash, your completed forms (however many copies the court requires) and the fee exemption form if you are entitled to a reduction (if on certain benefits)

hope that helps

mummytotwo_3

Roses babe - dont worry, me and my hubby did all yesterday and were declared br at 9.30am!!!

I did all my forms myself online at the insolvency website for me and hubby, allow about 3 hours for this with peace and quiet, and provide as much info as poss on the forms.

We got to the court at 9.00am and were back in the house with tea and coffee by 10.45am. Didnt need to see the judge, thankgod or i think i would have cried!!!!

callywally

I am just a bit confused as I thought everything had to be included in bancrupcy.
I might be wrong as I am in the early stages of all this and trying to find out as much as i can, but I thought you had to include everything.

dojoman

callywally wrote: »

I am just a bit confused as I thought everything had to be included in bancrupcy.
I might be wrong as I am in the early stages of all this and trying to find out as much as i can, but I thought you had to include everything.

What do you mean by everything?

callywally

I mean all bills and contracts etc I thought that the or even contacts energy suppliers, insurance companys etc. I may well be wrong as I said I am only just starting out on all this. May have the wrong end of the stick.

dojoman

I never included my utilities or my mobile phone contract, but they were all up to date and I did not owe them anything.

callywally

ok thanks, does the or contact them if you are up to date?

debtinfo

probably not, there would be no point, the OR just wants to know your assets and liabilities, if you dont owe them anything then you could just carry on. Technically they should start a new contract but most dont bother