I'm going to try....

Falze

.... and keep a diary on here of my bankruptcy experience, if thats ok with everyone.

For my own benefit of reference and to hopefully help others out with their journey to follow.

I know that for the last 2 months, this forum has been a massive support and wealth of knowlege that i dont think i'd be where i am now without it.

History.

I live with my partner and two girls 5 & 10 in a mortgaged home in negative equity (big). We also have debts for credit and store cards and loans, as well as loans built into the NR mortgage.

We have been struggling for some time living month by month and using the cards to pay for day to day living, not excessive items, just stuff for the kids, milk etc and cigerettes (which we have now both kicked thank God) once the bank account was empty.

When the cards were full we consilidated our debt "into one lower affordable amount" and the cycle continued. This happened over and over again and i supose we neivley though we were dealing with the problem by consolidating.

THen this March we were told that we could not get a consolidation loan again as we couldn't afford to repay it.

We spoke with Payplan who advised us that bankruptcy was our best option and we could probably keep the house due to the negative equity, but was it a milestone round our neck.

We didn't have a sad story about illness or losing job or gambling addition or drink problems, we were just trying to live and give our kids a decent life. One caravan holiday in mablethorpe a year, the odd day to the zoo. Thats all. We were just fighting a losing battle.

This came as a shock. Neither of us were earning millions, but bankrupt !!!

Then this site came into my field of vision (mainly whilst i'm supposed to be working).

We sat down together for the 1st time to really see what we needed to do and desided that a clean break was for the best.

Our house is only a 2 bed and we've been sleeping on a sofa bed for 2 years so our girls have a room each. We outgrew the house very quickly.

We over extended ourselves to get the house in the 1st place, as we were homeless for 3 months and desperate (but thats a different story - maybe for the autobiography)

We agreed a rental property and move in on the 26th May'10 and we intend to vol repossess when we are in.

Currently saving the £1200 to go bankrupt (both of us) should be done next month.

Feels to to get all off chest and out, so sorry if babbled on.

I finnaly got the balls to ring the court today to see if it a drop in or apointment service, but the switch board was closed :mad:. Try again tomorrow !!! Have read online that Northampton is a drop off your forms and they ring or write to you in 5 days to confirm you've been delared bankrupt. Thats sounds strange, so need to check in out.

Thankyou for your time.


Falze.

DON79

Hello, I have been to Northampton January last year, I went there and the advice service went through and checked the forms over with me, I went downstairs and paid the fee's and came away. The judge looks through the papers later that day and then you get confirmation in the post of your BR order being granted. My confirmation arrived a week after I had been to court. So that is how they do it... hope that helps.

yellowmonkey

Good idea about keeping a Diary of your experiances.:)

I did a sort of mini one and it is nice to look back at it and see where I was just over a year ago to where I am now

All the best :beer:

IF

Hello Falze, It is a good idea.....say how you feel and get it all out. Like YM says to look back on. And also it helps others too, to know there not alone.

Best wishes
If...x

confused76

hi there
i think it's a great idea, will help other people reading this forum. plus it's therapeutic, you'll see when reading back in a few months how far you've got and how things have improved
all the best x

missyp123

good luck for the move, we are moving the same week as you and have booked Br for july to make sure we have the money:o

your story is very similar to ours, but after being on this board for so long i know that its a lesson learned (a hard one, of course) and will not be repeated;)

ontheroad_2

Thanks for posting your diary - I'm sure a lot of us will see similarities on the road to BR and afterwards .

indebtinsussex

fantastic so far, very similar to us as well at the moment, I have started to keep a diary as well about my experiences of this

Falze

Many thanks for your kind words.

I'm sure many people (particulaly here) have been through or are going through the same thing. it does make it easier to get it of the chest, even in a brief summary.

Kids are excited about the move, as am i. I finally get a bedroom back and wont have to get the bed out and put it back every night and morning. Were not going far (1/2 mile) so same schools, shops commute etc. Might not be able to put cable or sky at new house though as LL has previously not agreed. Not had 1,2,3,4,5 only since i was a kid. Minor things and think of the ££ saving.

Looking forward to not being popular on the phone again. The phone only ever rang when it was the MIL, now its constant.

Going to try the court again in a while. Wait for some people to come back from lunch, so i dont get interupted. Just to make sure we follow proceedure correctly.

PS :- If anyone does read this i apologise in advance for my poor spelling.


Falze.

Falze

Rang the court on Friday (1st chance to post).

They are sending me forms and advised it is a drop your forms off and they will write to you to confirm you are bankrupt.

They operate a free legal service on certain days, where they will check the forms for you, before they are submitted.

We are therefore looking to go to the court on the AM of the 26th May'10, funds and paperwork permitting.

This is also the day we get the keys for the new house.

This presents 2 problems/thoughts.

I will no longer be at the old address when they write to me (although i will therefore not vol repossess until its received) and as the house will technically not be mine after bankrupcty anyway, can i vol reposs or should i leave that to the OR ?

Any thoughts ??

Sunnylooloo

Hi Falze

thanks for sharing your experiences

Not too sure about the house - but (and someone corrrect me if I am wrong) I think you are still liable for council tax (although you can get it exempt for 6 months i think...??) and buildings insurance on your old house until it is taken back.

this will give you a bump up and someone will be able to confirm that for you

good luck