The Bankruptcy Club & Supporters Club

rog2

Thanks lads - As I understand it, from my OR meeting, the Insolvency Service levy a fixed fee (I think £1800) which covers all of their involvement, including the services of a trustee. This fee is taken from the estate in bankruptcy, providing there are sufficient funds.
My real question is about the role of 'the trustee' - meetings, relationship, communication etcetera, as the letter, from OR, only states:

'The trustee's job is to sell your assets, and use the money to pay the fees, costs and expenses of the bankruptcy and your creditors.'

I would like to know if this is done on a 'civilised' basis, through communication, or will somebody just 'walk into my house' and tell me that they have 'sold it'?

Thanks.

tight_jock

You certainly don`t have to pay any more!

I am finding this forum really most excellent to get everything out of the system - knowing there are so many others out there going through the same as OH and I makes it so much easier. I wish I had found it before BR day to answer all my queries. I hope that I can give a little useful info to anyone in our situation and make what is such a difficult time a little easier.

The OR made it really easy for us "you don`t have to worry now. All these debts are mine" was how he finished our telephone interview!


PS Can OH and me have a number for BCSC please!!!!!

tight_jock

rog2 wrote:

Thanks lads - As I understand it, from my OR meeting, the Insolvency Service levy a fixed fee (I think £1800) which covers all of their involvement, including the services of a trustee. This fee is taken from the estate in bankruptcy, providing there are sufficient funds.
My real question is about the role of 'the trustee' - meetings, relationship, communication etcetera, as the letter, from OR, only states:

'The trustee's job is to sell your assets, and use the money to pay the fees, costs and expenses of the bankruptcy and your creditors.'

I would like to know if this is done on a 'civilised' basis, through communication, or will somebody just 'walk into my house' and tell me that they have 'sold it'?

Thanks.

Surely the trustees brief is the same as the OR? we were told that they were not out to make things any more difficult than they already were nor to "punish " us for our debts

alidadas

Hi all, bit of a longshot question but has anyone gone bankrupt in Portsmouth??

My H and I went for a quick drive today so that I know where I'm going on Tuesday - got very confused and we're still not 100% sure if its the right palce - I'm going to phone them tomorrow to check but thought I'd ask on here as well!!

I'm getting quite nervous now - but also know what a huge relief it will be once done! Silly really!

rog2

alidadas wrote:

Hi all, bit of a longshot question but has anyone gone bankrupt in Portsmouth??

My H and I went for a quick drive today so that I know where I'm going on Tuesday - got very confused and we're still not 100% sure if its the right palce - I'm going to phone them tomorrow to check but thought I'd ask on here as well!!

I'm getting quite nervous now - but also know what a huge relief it will be once done! Silly really!

Hi alidadas - just wanted to wish you good luck for Tuesday - hope it all goes well.
Don't know Portsmouth very well but I would suggest that you do exactly as you say - phone the court tomorrow and ask for directions - they may be able to email you a map.

sandralovescats

I thought that the Trustees were appointed when the case is quite straightforward.

Rog2 I don't think you will have anything to worry about.

rog2

sandralovescats wrote:

I thought that the Trustees were appointed when the case is quite straightforward.

Rog2 I don't think you will have anything to worry about.

Thanks Sandra - have to admit that the most worrying thing, at the moment, is what they will do about my equity in the house, which is in joint ownership.
I don't think that there is anything complicated in my case, and the last sentence on the letter, from OR says:
'If you have any queries about your affairs, you should now make these to your trustee.'
It sounds like the OR's office has 'finished' their work on my case.

sandralovescats

I thought I would share some news with you all!

On Tuesday I have an interview for a new job! I am in Durham in the North and the interview is in Manchester! Have to be there for Noon, and expect to leave about 8pm! They do a seminar and interview combined. Am in no competition for a job, it just depends whether I wow them or not!

Should be fun - I haven't had an interview for a job since I went to University! Out of practice isn't in it.

The job is in finance, would you believe! Have checked with the FSA that my 100% Full & Final IVA will not stop me from being authorised to practice, and have spoken with my IP, and both say that it is not a problem. The Company are okay with it too. So, it is down to me now!

If I am offered the job I have to sign the contract there and then. So, by Wednesday I should be part of the workforce once again!

What fun!

tight_jock

rog2 wrote:

Hi alidadas - just wanted to wish you good luck for Tuesday - hope it all goes well.
Don't know Portsmouth very well but I would suggest that you do exactly as you say - phone the court tomorrow and ask for directions - they may be able to email you a map.

Best of luck.
It will all be over much quicker than you expect, most of the 2 hours we were in the court building was waiting in the public areas for paper work to be completed. The judge we had was a real gentleman - went through our petition and wished us luck in the future and we were out of the courtroom in ten minutes flat!! ( straight to the pub for a large one !!!) :beer:

Doushka

alidadas wrote:

Hi all, bit of a longshot question but has anyone gone bankrupt in Portsmouth??

My H and I went for a quick drive today so that I know where I'm going on Tuesday - got very confused and we're still not 100% sure if its the right palce - I'm going to phone them tomorrow to check but thought I'd ask on here as well!!

I'm getting quite nervous now - but also know what a huge relief it will be once done! Silly really!

have sent you a private message - I was there last wednesday