The Bankruptcy Club & Supporters Club

rog2

GeorginaAlexi wrote:

oooh can i join- i went br 9/2/06 and was discharged beginning oct 06! im debt free and have finally learned to live within my means (ok its an on-going lesson) and this site is so great with helping to achive that! batch cooking, budgeting etc... have sworn off credit and am learning to wait while i save. may never be able to get a mortagage so im told but im living in the now and at the time br was my only option as recomended by cccs.

There really is no reason why you shouldn't get a mortgage GA - may be a bit difficult for the next couple of years, but certainly not impossible.
Sounds like you have adapted very well to your current situation. :beer:

rog2

Richard_S wrote:

We were declared bankrupt in July this year nos 220&221 / 2006. Just had a peek at the local newspaper and before the end of Nov 06 they were up to case 992 / 2006.

It's only a small town too; does anybody think the BKY Badge could become a must have fashion accesssory??

Always wanted to be a trend setter :j

Rich

With nearly 800 brs in 4 months - looks like it will be a case of spot the people who are NOT bankrupt. :rolleyes: :beer: :rolleyes:

tight_jock

rog2 wrote:

With nearly 800 brs in 4 months - looks like it will be a case of spot the people who are NOT bankrupt. :rolleyes: :beer: :rolleyes:

I heard some astonishing figures a couple of weeks ago. It seems that in three months over the summer, 27000 br were recorded and "sources" fully expected that number to approach 100000 for the year!!

:snow_laug

How do you get a job as an OR? - certainly seems to be a growth industry with good prospects !!!!!!!!!:santa2:

:xmassign:

Millionare

hi guys just a few questions if you can help. it looks like i need to go the bankruptcy route after speaking to payplan yesterday they say ive only got £45 remaining for payments. cccs are gonna ring me on the 8th

anyway the questions are:

my cars worth around £2400 on parkers thats the part exchange value. can i offer the OR to pay any amount over what im allowed for the car? i really need the car for wife and kid and i use it to get to work. and i really dont want to change it and have to buy another car because i only servicd it a few months back and took me ages getting a suitable car child seat for it.

how does bankruptcy appear in local papers? its not in big bold letters is it? i really dont want any one finding out and this is the biggest reason ive been avoiding it even though ive been in finacial trouble for over a year but have been digging a deeper whole beacuse i ddnt face upto to it.

worst bit is the wife dont still know and im too ashamed to ever tell her.

i managed to rake up over £9000 in gambling debt due to being depressed and thinkin i could make money. you know fell for the "systems" on ebay that make you £1000 + a week. yeah right! made £1000 in first week then spent the rest of the year chasing my losses just to break even but then it was to late and i dug deeper and deeper in trouble. will courts look at this negativly? i never want to see a gambling site ever again!!

my health has seriously been effected due to the stress of my debt. every waking moment i just think about it. its ruining my life add the that house prices going through the roof more in a week then i earn in a week and i cant afford anything. im just renting

im also self employed as a cabbie, can i still trade? it wont effect this will it. and would the OR need to speak to my accountant? i dont really wanting them contacting my accountant, i have my own records given back to me.

and finally if say in 8 or 10 or whatever years time i might look at a house, will i get a mortagage. i hear that bankruptcy is for 6 years on the credit file so say after 6 years are up bankruptcy wont affect my chances of a morgatge??

thanks

sandralovescats

Millionare wrote:

hi guys just a few questions if you can help. it looks like i need to go the bankruptcy route after speaking to payplan yesterday they say ive only got £45 remaining for payments. cccs are gonna ring me on the 8th

anyway the questions are:

my cars worth around £2400 on parkers thats the part exchange value. can i offer the OR to pay any amount over what im allowed for the car? i really need the car for wife and kid and i use it to get to work. and i really dont want to change it and have to buy another car because i only servicd it a few months back and took me ages getting a suitable car child seat for it.

how does bankruptcy appear in local papers? its not in big bold letters is it? i really dont want any one finding out and this is the biggest reason ive been avoiding it even though ive been in finacial trouble for over a year but have been digging a deeper whole beacuse i ddnt face upto to it.

worst bit is the wife dont still know and im too ashamed to ever tell her.

i managed to rake up over £9000 in gambling debt due to being depressed and thinkin i could make money. you know fell for the "systems" on ebay that make you £1000 + a week. yeah right! made £1000 in first week then spent the rest of the year chasing my losses just to break even but then it was to late and i dug deeper and deeper in trouble. will courts look at this negativly? i never want to see a gambling site ever again!!

my health has seriously been effected due to the stress of my debt. every waking moment i just think about it. its ruining my life add the that house prices going through the roof more in a week then i earn in a week and i cant afford anything. im just renting

im also self employed as a cabbie, can i still trade? it wont effect this will it. and would the OR need to speak to my accountant? i dont really wanting them contacting my accountant, i have my own records given back to me.

and finally if say in 8 or 10 or whatever years time i might look at a house, will i get a mortagage. i hear that bankruptcy is for 6 years on the credit file so say after 6 years are up bankruptcy wont affect my chances of a morgatge??

thanks

]


Hello and welcome!

First of all, where your car is concerned it is doubtful if the OR would take it away from you, so don't worry about that.

The bankruptcy does appear in the papers, but you try finding some of the others! They are usually in small print towards the back.

With gambling there is a space on the SoA form for you to declare what amount of money you lost to gambling. The worst that could happen would be a BRU which means you are restricted on credit for longer than the length of time being an undischarged bankrupt.

Yes you can still trade as self-employed if you have a thriving business. Unfortunately, though, you do have to declare whom does your accounts for you. I would doubt that the OR will contact your Accountant directly.


You can still get a mortgage but at a slightly higher rate of interest - however, I think it only affects you for a couple of years.

Have you had a look at https://www.insolvency.gov.uk yet? You can see the SoA forms there that you have to complete, and do them online.

We will try to answer all of your questions for you.

Millionare

sandralovescats wrote:

]


Hello and welcome!

First of all, where your car is concerned it is doubtful if the OR would take it away from you, so don't worry about that.

The bankruptcy does appear in the papers, but you try finding some of the others! They are usually in small print towards the back.

With gambling there is a space on the SoA form for you to declare what amount of money you lost to gambling. The worst that could happen would be a BRU which means you are restricted on credit for longer than the length of time being an undischarged bankrupt.

Yes you can still trade as self-employed if you have a thriving business. Unfortunately, though, you do have to declare whom does your accounts for you. I would doubt that the OR will contact your Accountant directly.


You can still get a mortgage but at a slightly higher rate of interest - however, I think it only affects you for a couple of years.

Have you had a look at https://www.insolvency.gov.uk yet? You can see the SoA forms there that you have to complete, and do them online.

We will try to answer all of your questions for you.

thanks for the advise. great to hear that a mortgage can be still had.

i think im going to buy the local papers this week to see if i can spot the bankrupt section.

regarding the accountant i need to work out away around him knowing. what it is they have someone working there that know some of my family members that i dont want knowing about my bankruptcy who i dont speak to. i know they will spill the beans to them cause somehow i know they checked my last years accounts and total them my in's and out's.

could i just cancel the accountant agreement to access to my correspondance from inland revenue? and tell them to deal with me directly?

i dont really need a accountant as im self employed as myself only . i could save money for next year because i could do my own accounts as they are not really that complicated. its just when i started i thought i needed one.

monkeyy

Richard_S wrote:

We were declared bankrupt in July this year nos 220&221 / 2006. Just had a peek at the local newspaper and before the end of Nov 06 they were up to case 992 / 2006.

It's only a small town too; does anybody think the BKY Badge could become a must have fashion accesssory??

Always wanted to be a trend setter :j

Rich

The lady that interviewed me said that bankruptcies have gone through the roof in the past 18 months and she can only see it getting worse in the new year. Best get it out of the way now before the recession hits

piggeh

Never seen this thread before.

Bankrupt March 2004. Discharged a year later, will finish paying my IPO in July 07.

rog2

piggeh wrote:

Never seen this thread before.

Bankrupt March 2004. Discharged a year later, will finish paying my IPO in July 07.

Well done piggeh :beer: and stick around - your experiences will be a great help to others.:T :T
Rog2

piggeh

cheers rog2