The Bankruptcy Club & Supporters Club

rog2

Thanks GG,

An excellent post, full of good advice and thanks for sgaring your experience with us. Hope all goes well with OH - you are obviously well placed to help him.

goonergirl

Hi
Im not sure well placed is the words I would use! its prob as much my fault as his that this has happened again!
But Ive just spent the morning clearing out the bills folder to make my head clearer. writing up a list of creditors with details etc etc (try to be postive here!) and trying not to beat myself up today about it all!
I think its the guilt thing that gets us all if I had a Plasma telly and designer clothes and loads of jewellery I could sit here and say there thats where it is but all I really have is a home with basic things and the only reason the telly is bit better than we had (even though still 6 yrs old) is cos we had a claim for the old one when it fell off the stand and broke! oh and the car about £3000 2 yrs ago?! the most expensive thing we ever bought, always had heaps of rust up to then and my mum was sick of it when she borrowed my old one one day an realiesed how bad the brakes were!
glad yours went fine
a
x

sarah_skint

does anyone know where i can find information on going bankrupt due to gambling debts and what will happen due to the colossal amount i racked up. not sure what the or will say etc
Sarah

sandralovescats

I came across this IPA chart, as a guide to repayments when in bankruptcy. Thought it might be helpful!


This is a table of IPA percentages that you can expect to pay on any surplus income - per month:

1st Column=SURPLUS INCOME
2nd Column=AMOUNT TO BE PAID
3rd Column=% OF DISPOSABLE INCOME


50 Nil
60 Nil
70 Nil
80 Nil
90 Nil
100 50 50
110 55 50
120 60 50
130 65 50
140 70 50
150 75 50
160 80 50
170 85 50
180 90 50
190 95 50
200 100 50
210 105 50
220 110 50
230 115 50
240 120 50
250 150 60
260 156 60
270 162 60
280 168 60
290 174 60
300 180 60
310 186 60
320 192 60
330 198 60
340 204 60
350 231 66
360 238 66
370 244 66
380 251 66
390 257 66
400 264 66
410 271 66
420 277 66
430 284 66
440 290 66
450 297 66
460 304 66
470 310 66
480 317 66
490 323 66
500 350 70
510 357 70
520 364 70
530 371 70
540 378 70
550 385 70
560 392 70
570 399 70
580 406 70
590 413 70
600 420 70

sandralovescats

I think that table should be published on the insolvency.gov.uk website just so that folks know upfront what is involved.

I must admit that, all the way along the bankruptcy line, it has (so far) turned out to be a lot easier than I had anticipated initially. In fact, to be truthful, the thoughts of going bankrupt terrified the living daylights out of me.

sandralovescats

For those fo you whom have gone through bankruptcy -

Did you tell anyone you were going to go bankrupt?
Just curiosity.

I haven't mentioned it to a soul.

I have a friend G who had a lot to say when a mutual friend of ours went br nearly five years ago - she kept saying "all that money and she doesn't have to pay a penny of it back" . I don't know how much her br was for. I have never been able to work out whether she was jealous of her not having to pay the money back!

Would be interested in your replies

badlyoverdrawnboy

A little tip but it might not work for everyone. I live in a small village where everybody's business is public knowledge. I petitioned at a County Court not strictly within the area but they were happy to deal with it. Newspaper notice was published in that area not mine. Result hopefully is that its still fairly anonymous. Nearly 2 weeks now and although I felt like sh**e for a few days it gets better. First thing on my mind when waking is no longer debts

badlyoverdrawnboy

sarah_skint wrote:

does anyone know where i can find information on going bankrupt due to gambling debts and what will happen due to the colossal amount i racked up. not sure what the or will say etc
Sarah

If you go BR with gambling debts you can expect a BRU/BRO but its not the end of the world. Look here. https://www.debtquestions.co.uk/forums

goonergirl

Hi sandralovescats
I don't know about anyone else but no one ever seemed to know about my BR I don't think it went in the Local local paper in a more regional one nearer to the OR s Office.
I only told my best friend and my mum and dad when I was doing it. My best friend new how stressed out I was etc so I think she was just glad it was all over for me. a while after I told other friends a few were shocked because they didn't understand it and they thought you had to sort of be a crimininal to go BR??! Till I explained. some new an odd person who had done it so did understand. No one ever asked me outright ie because they had seen it in the paper and to be honest if they did what can they do? most of this stuff gives them something to gossip about for a week or so then they move on to something else. To be honest I was just glad and relieve and so able to sleep I couldn't have given a hoot. (but ..) being honest I was bricking it going to court, never been near one in my life, but that was fine and quick. Bricked it about the OR phone call but he was nice and even cracked a few jokes. Don't know if that helps you a bit?
a
x

rog2

I did not tell many people about my impending bankruptcy, other than my family of course, but I did tell those who specifically asked. Strangely enough, I bumped into a chap in Tesco's yesterday, who has a unit a couple of doors away from my old business - and he asked where I had been, as he had not seen me around for a few months I just told him I'd given it all up - seemed easier than having to explain about my bankruptcy.