My Bankruptcy Log

confused76

glad to hear the day went smoothly for you whothrewthat, it's never as bad as you think it will be but that doesn't stop the nerves! good move writing down your experience, helps others about to go through it. hope you sleep well tonight x

jedi82

Glad it went well, told you it would be okay

Onwards and upwards now

Jedi x

DippyDog

WhoThrewThat wrote: »

Thanks for that DD
I'm much in the saim position as you in that it was the next bit I have been worrying about not the court bit as much.
I am no expert in these matters but from what I have read on other posts if the house is in negative equity then there will be no money in it for your creditors and the OR may will leave it alone as long as they are happy you can pay the mortgage. As far as I'm aware bankruptcy does not include secured debt (a mortgage) and as there is no equity its not an asset either.
The purpose of BR is to remove hardship not to create it. Your OR will allow you enough of your wages (if you work) to live comfortably (ie not in hardship) or if you are on benifits only they will not take any.
Again i am no expert in these matters and as I said its my day zero so have not lived through BR yet so please get my advise varified by others who do have more experience/knowladge than I.
Thanks again for your pose

who

Dear WTT - I think why I am so un nerved about the house is that I'm sure I read in a thread on here somewhere that the person's house valuation was in negative equity but one of the creditors had done a drive past valuation and had valued it much higher ( my house looks fine from the outside but inside is very "knocked about").

Anyway I can't get too hung up about it because my ball is now rolling - court date 21st Sept!

DD

WhoThrewThat

BR + 2 Days

Well not much to report really. I called the mortgage lender yesterday. (I went for vol repo on a property a few months back). I was advised to tell them about the BR. They wern't interested. I got passed to three different departments and then was told to call back today. I politly informed them that I would do it in writing.

One question. Before the vol repo I signed the Deed of aknowladgment thing. (sorry bout spelling at work so rushing). I know that was a bad move but at the time I didn't. Silly me.
My Question
I now understand that as my BR was after the date I signed the form that the shortfall will be included in the BR. I hope this is correct as it was the main reason I went for it. It mafe up about 80% of my debt.

Any advice greatly recieved.

Who

debtinfo

That is correct

WhoThrewThat

Many thanks DebtInfo

WhoThrewThat

BR + 1 Week

Well its been a week and not much has happened. I called the NR last week to tell them about the BR and They kept putting me through to different derpartments. I actually made 3 calles to them before I spoke with someone who even cared. The chap took the details thanked me for letting them know and advised me that they shouldn't contact me again.
My (old) bank called. I have now missed a payment on my loan so they were chasing that. I advised the lady of my BR and again she took all details and thanked me for letting them know.
So far everyone has been nice about it.
I got the info from the OR through the post. Have read through it and have telephone intivew bookrd for 22nd sep. Not sure what that will bring.

Dunno what else to say really will keep you posted further.

Who

WhoThrewThat

BR + 2 Weeks & 1 Day

Or Intivew in the morning.

Well I sent off the info they requested but did not have the bank statments and only one cc statment and 1 pay slip. I hope this is not going to cause a problem but the fact is that I dont keep them. Since I decided/found out that BR was my only option I have not had any bank statments through (opted not to get them a few monts ago) and have only been paid once.

Not sure how I am going to justify all my spending tomorrow as I really cant remember what every penny was spent on. How detailed does it need to be. I mean I know the main purpose of the loan I had and why my bank account was overdrawn but I cant really remember each transaction on a a credit card I hadnt used for 4 years. I guess I'll just have to explain everything I can and hope for the best. I hope it doesnt look like I am being obstructive. I really want to cooperate as much as I possably can.

Update on everything else
I had a call from my old bank again but once he had gone through his security questions he must have seen on the screen about my BR and apologised for calling and said he would make sure it didn't happen again. I felt a bit bad really. Maybe somewhere deep down I dont feel my creditors should be so curtious. After all they have given me money which they will never get back.

Apart from that I have nothing to report. No other creditors have been in touch. Oh I did write to them all at the beginning of last week to inform them and give them the details. Forgot to mention that.

Will update again tomorrow.

Who

betterlatethannever

WhoThrewThat wrote: »

BR + 2 Weeks & 1 Day

.

Not sure how I am going to justify all my spending tomorrow as I really cant remember what every penny was spent on. How detailed does it need to be. I mean I know the main purpose of the loan I had and why my bank account was overdrawn but I cant really remember each transaction on a a credit card I hadnt used for 4 years. I guess I'll just have to explain everything I can and hope for the best. I hope it doesnt look like I am being obstructive. I really want to cooperate as much as I possably can.
You don't have to justify all your spending, just answer any questions that are put to you be the OR.
If there's anything he needs to know about your spending, he'll ask.
Don't waffle..listen carefully and think before you answer. You'll be just fine though. They're not there to try and trick you.

Update on everything else
I had a call from my old bank again but once he had gone through his security questions he must have seen on the screen about my BR and apologised for calling and said he would make sure it didn't happen again. I felt a bit bad really. Maybe somewhere deep down I dont feel my creditors should be so curtious. After all they have given me money which they will never get back.

Apart from that I have nothing to report. No other creditors have been in touch. Oh I did write to them all at the beginning of last week to inform them and give them the details. Forgot to mention that. bit of a waste of your time really. The OR will do that, but it doesn't hurt for you to.

Will update again tomorrow.

Who

Good luck for tomorrow. :beer:

selbygeoff

Whothrewthat

Don't worry about the OR interview. I went through bankruptcy and was discharged in August. My OR was within the insolvency service, and to be honest they were great. I take it you have filled in all the relevant paperwork?

Just remember. Don't under estimate your day to day living expenses, after all we all know how much it costs to live these days, I'm not saying that you should fabricate the figures but that you should be realistic. Why you might ask? Well if you show any significant disposable income after day to day expenses there a chance they will try and impose a payment order on you.

So be warned and best of luck.