We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Spending before BR
liquidbutindebt
Posts: 63 Forumite
Hello all, had my OR interview and it went really well. The OR was super nice and very friendly. We joked and laughed through a lot of it 
But I was wondering about spending before bankruptcy and how it will be viewed after my bank statements have been scrutinised.
I have basically been waiting for my majority creditor to make me bankrupt. Which took quite a while from when I initially took advice from an IP. Meanwhile I stopped paying all other creditors as, technically, I was insolvent and was told I couldn't make preference payments. So, 12 months later, I am finally made BR.
I have had reasonable income in the intervening period and have lived normally (i.e. in the same way as previously). I have not used any credit, or attempted to gain credit and I have not become further indebted to anyone. But I have been spending on things that could probably be classed as over and above essential household needs. I have not acquired any assets of significant value to the OR. Obviously I have acquired things, but nothing major. I have basically been living within my means.
How is this spending likely to be viewed by the OR? Given that my income is relatively high?
But I was wondering about spending before bankruptcy and how it will be viewed after my bank statements have been scrutinised.
I have basically been waiting for my majority creditor to make me bankrupt. Which took quite a while from when I initially took advice from an IP. Meanwhile I stopped paying all other creditors as, technically, I was insolvent and was told I couldn't make preference payments. So, 12 months later, I am finally made BR.
I have had reasonable income in the intervening period and have lived normally (i.e. in the same way as previously). I have not used any credit, or attempted to gain credit and I have not become further indebted to anyone. But I have been spending on things that could probably be classed as over and above essential household needs. I have not acquired any assets of significant value to the OR. Obviously I have acquired things, but nothing major. I have basically been living within my means.
How is this spending likely to be viewed by the OR? Given that my income is relatively high?
0
Comments
-
Lots of views... no comments? Anyone got any ideas what I should expect?0
-
Without going in to specifics it is really hard to comment, also no 2 OR`s are the same.:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
as dojoman says it is very hard to comment on this one. obviously they see a lot worse than what you describe, but you will have to wait and see what the OR says. there are a couple of people who work for the insolvency service on here i think so hopefully they will see this and comment
i wouldn't worry too much though0 -
bumping up for you0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards