The Bankruptcy Club & Supporters Club

gettingitsorted

bizzylizzy wrote:

Thank you, I will stop fretting and leave the cash where it is.

Thanks for all the help from everyone, I'd be going crazy without this board, it's great to have somewhere to ask all these questions.

thats what we are here for ,i found such support here, now im just trying to give some back

tight_jock

Hi everyone.
Wife and I are almost one month into BR and it has been the best decision about finance we ever made.
A couple of points for anyone considering this.
1 If you have a current account, go and speak to your bank and let them know what you intend to do. If you owe your own bank, go and talk with other s BEFORE you go to court. Open a basic cardcash type account and set up direct debit notifications before your hearing. Generally it is not the OR that freezes the account but the bank.
2 Cars. The seizure of a car is entirely at the discretion of the OR. If losing a vehicle will affect your employment or you are a carer then, generally they will not leave you without a vehicle. They may take an expensive vehicle,sell it and give you a percentage to get yourself something cheaper. A vehicle worth over about five grand will probably go.

rog2

amc23 wrote:

i`m lookin to go bankcrupt but no idea were to strat n cost involved any help would be great
thank you

Hi amc and welcome to BCSC.

You say that you are looking 'to go bankrupt' - obviously this means that you have some financial problems, but you do need to be sure that bankruptcy is your only option, as there are many other solutions to debt, depending on your individual circumstances.
Start by having a good read of this thread, then make yourself a cup of coffee and write down your reasons for considering bankruptcy, starting with a SOA - statement of affairs, listing your income, expenditure and debts. Post your SOA here and we will advise you.
See you later:beer:
Rog2

rog2

tight_jock wrote:

Hi everyone.
Wife and I are almost one month into BR and it has been the best decision about finance we ever made.
A couple of points for anyone considering this.
1 If you have a current account, go and speak to your bank and let them know what you intend to do. If you owe your own bank, go and talk with other s BEFORE you go to court. Open a basic cardcash type account and set up direct debit notifications before your hearing. Generally it is not the OR that freezes the account but the bank.
2 Cars. The seizure of a car is entirely at the discretion of the OR. If losing a vehicle will affect your employment or you are a carer then, generally they will not leave you without a vehicle. They may take an expensive vehicle,sell it and give you a percentage to get yourself something cheaper. A vehicle worth over about five grand will probably go.

Good advice tight jock - I am about 1 month into br myself, and am just starting to get my life back on track.
Hope it all went well for you, and that you will continue to share your experiences and advice with us as the br progresses.
Cheers
Rog2

tight_jock

I also suggest you go to your CAB money advice unit. They were brilliant with us - and do not charge a penny.
Cost to us was £325 each plus court fee of £150 each. Court fee may be waived if you are on benefit:T


AM I TOO LATE TO GET A NUMBER??!! ( Oh and one for the wife too please)

Bankrupt on November 1st 06 - 11 months `til discharge

vivadave

Hi everyone, i'm a new user on here and this is my first post. I'm 37 and my wife is 35....

I've had a grim past when it comes to debt, way back to my first marriage in the early 90's to the present day really, so i was pleased to stumble this web site and forum, which is full of like wise people, Hi to you all,i feel better that i'm not alone, been reading through these forums for a couple of days and desided to join up....

I have had advice from a few places and each one points me in the direction of bankruptcy, which i have toyed with the idea for years, thinking it was a major route to take but after finding out a bit of info, it might not be that bad at all....

I'm in the process of getting mine and my wifes credit files from experian and equafax as neither us of have any idea of the debts we have, mainly the ones from the past, one that i have and having heard nothing for years rang me about 2 months ago, could'nt believe it....2 debts totaling £27.500, one was for a house repossion and the other for a loan taken out with my first wife(who has since past away)....but thats another story....

My wife has also had a house repo with her first marriage, and hasnt heard anything since, but only a matter of time and that would god knows how much to the total +++++++ a lot more things from unpaid council tax from first her first marriage, as i said our total debts are unclear till we get our credit files, i found the link for the Equafax postal credit file but have yet to find the experian postal version....

A rough total, and i mean rough, looking around £40.000+, thats without my partners house repo included, plus whatever else there is....

Seems lately that theres been a few past debts caught up with us out the blue, still getting the nasty bright red envolopes from data services, bailifs, the lot, so i see bankruptcy as the ideal solution for us, and we are gonna do it as a join one, as we both have no intension of trying for credit for some time, as this would defy the object....

I cant ever imagine being debt free at the moment, dreading the postman everyday, (even though i am one lol)....dreading the phone ringing....dreading someone knocking on the door....

Is it correct that a join bankruptcy costs £475....

We both have cars on finance, my finance was for only £1500 and my partners around £3800 plus interest, these have both been paid regular and never missed a payment, would we loose our cars, even though there not worth much and we would still be willing to continue the payments?

Last question (for now lol) once made bankrupt, what would happen say if a letter dropped on the door mat for a past debt, is this possible or could debts be missed by the court, or do they find absolutley everything no matter what, even if it hasnt been defaulted?

Thanks for listening and sorry for such a long first post....

Look forward to hearing from you all....


Dave....

gettingitsorted

hi viva firstly you need to speak to either payplan or the cccs as if you intend to declare bankruptcy you will be asked if you have taken profesional advice(excuse the spelling nice 2 year old keeping me up).

https://www.payplan.co.uk
https://www.cccs.co.uk

monkeyy

Was everyone who has been bankrupt been able to send all their credit card and bank statements off for the last 12 months? I know for a fact im going to struggle to find the last 3 months let alone 12.:eek:

Doushka

monkeyy wrote:

Was everyone who has been bankrupt been able to send all their credit card and bank statements off for the last 12 months? I know for a fact im going to struggle to find the last 3 months let alone 12.:eek:

Monkeyy I may be totally wrong, but I think that the OR will contact your credit card companies and banks if there are any statements missing (be interested to know if it costs them money to get duplicate statements as it would if we did it as individuals)

So basically, don't worry too much.

I know some of my companies I opted to view statements online only, so they'll have to go ask for them

How you feeling two days on? I am a whole lot more relaxed, thank goodness - I know the tough bit with the OR is still to come, but its done now, I do not have 43k debt any more

monkeyy

Well ive slept 2 nights in a row for starters which is a first for a long long time,also im a 100 times more relaxed and it shows in what i do and how I treat people so loads better thanks:beer: Definately more responsible with money, already im watching the pennies and tightening my belt as i know now I have no credit to rely on if I run out of cash.

My interview with the or is over the phone so for me it shouldnt be too bad.