2 questions re BR

rabb

1) you go to the court with the 2 forms and pay fees, then you get a call from the OR. I think that is how I understand the procedure, following this how and when do you know that bankruptcy has taken effect?

2) I thought bankruptcy lasts for a year? I read on here somebody say they'd be "signed off" (or something to that effect) after 7 months? Also, are you under obligation to tell the OR changes in your circumstances for up to 3 years after BR? Something to do with contribution you may have to make should you have a surplus over 100 pound each month.

thanks

confused76

hi there
have you taken advice? please contact one of the free debt charities such as the national debtline, cccs or cab. they will assess your situation and provide you with your options. i spoke to the national debtline who were very helpful

if you are going br you would need to ring your local court and see what kind of system they operate. some are a drop in and be seen on the day system, most are appointment based. on the day of br you would need to take 3 copies of your completed forms and your fee of £600 in cash. on some benefits this fee can be reduced by £150, so you would need a form for this if applicable. you would normally be declared br on the day and issued with a br number

at a later date you would have a telephone or face to face interview with the official receiver. this would be to go through your forms so the OR can get an understanding of how you have come to be br

yes, br lasts a year. however, if the OR concludes their business and there are no creditor objections then you could receive early discharge. there is guarantee of this though, it depends how busy they are.
if you have a certain level of money left over each month after your basic living expenses an IPA can be set, this is when you pay a certain amount back for 3 years. normally you would need to notify the OR of changes to your circumstances until discharge, but if you have an IPA then you need to keep them informed for the 3 years

hope this helps. i suggest you take advice if you haven't already, as you need to have taken advice before you can be granted br

take care

rabb

thank you, I called the debt line and the lady suggested BR as my best course of action. Should I put this in my statement?

confused76 wrote: »

hi there
have you taken advice? please contact one of the free debt charities such as the national debtline, cccs or cab. they will assess your situation and provide you with your options. i spoke to the national debtline who were very helpful

if you are going br you would need to ring your local court and see what kind of system they operate. some are a drop in and be seen on the day system, most are appointment based. on the day of br you would need to take 3 copies of your completed forms and your fee of £600 in cash. on some benefits this fee can be reduced by £150, so you would need a form for this if applicable. you would normally be declared br on the day and issued with a br number

at a later date you would have a telephone or face to face interview with the official receiver. this would be to go through your forms so the OR can get an understanding of how you have come to be br

yes, br lasts a year. however, if the OR concludes their business and there are no creditor objections then you could receive early discharge. there is guarantee of this though, it depends how busy they are.
if you have a certain level of money left over each month after your basic living expenses an IPA can be set, this is when you pay a certain amount back for 3 years. normally you would need to notify the OR of changes to your circumstances until discharge, but if you have an IPA then you need to keep them informed for the 3 years

hope this helps. i suggest you take advice if you haven't already, as you need to have taken advice before you can be granted br

take care

confused76

yes, just put something in like 'i have taken advice from the national debtline who have advised bankruptcy is my only viable option', or something like that