What happens if the OR isn't happy with my situation or reasons for bankruptcy?

sfjnet

Hi all,
I have managed to get my family and myself into a terrible mess (£33K in total) through years of putting my head in the sand about mounting debt and the belief that my wife's business would start turning a good profit in due course and give us the spare cash to pay things off. Since early 2010 however I have come to terms with the fact that I have to do something to sort it out - first considered an IVA but the monthly budget wasnt realistic so CCCS / National Debtline advised that BR was the only real option. I am quite far down that road in that I have prepared and researched to a massive degree, and now have my court date booked for 7th April. I have recently been reading other posters' "reasons for BR" examples on this forum and now I am starting to really worry along the lines of "what if the court/OR don't think I my path to BR or current situation is acceptable?" I assume that I will trot along to court on the 7th and pay over my £600 to become BR, but what happens afterwards if the OR doesnt like what he/she sees? It all seems reasonable to me and I haven't done anything illegal - I have just been irresponsible by not dealing with things before now. I am also concerned what the OR may think about the fact that I have basically been paying all the bills (and getting into debt because of it) while my wife has been setting up her business and contributing very little to our income. Do you know of any situations where the OR has basically said "NO"? What would happen in that case? Hopefully I am over-reacting but I am so worried and stressed that I dont know what is best anymore.

sizzler

Hi,

as long as you tell the truth and back up your story with whatever you can, answer there questions best you can.OR should be reasonable with you.

Ive seen a lot worse than what you have done:)

Worst is you can get a BRO but unsure if they would:)

good luck sizz.

Any body please add to what I have put.

sizzler:)

debtinfo

im not sure what you mean with the OR saying NO

skylight

The decision to make you BR is not one that the OR makes. It has nothing to do with him. The courts - and only the courts, will make you BR (in England), if you are insolvent. And insolvent means that you owe more than you have coming in plus any assets, thus have no reasonable way to repay those debts.

The judge will decide if BR is for you. If you can demonstrate you are insolvent, you understand the consequences of BR and have taken professional advice then they will make you BR.

The OR will investigate the reasons why you are insolvent. They cannot revoke your BR order if they are unhappy with your reasons for BR. And don't forget (which is easy to do) that ORs see tens of thousands of BRs each year, each with a tale to tell. There is very little that they haven't come across before.

Doucam

As sizzler says, the worst that could happen if the OR feels you have been naughty.

With regards to the OR saying No, are you meaning No to you being BR? as far as I am aware it is the judge at the court that declares you BR, and once he/she has done that you are BR, I don't think the OR can overturn that after the event.

As long as you are honest, and tell the OR all they need to know you should be ok.