The Bankruptcy Club & Supporters Club

rog2

desmonds wrote:

I think a complaint procedure is my next option. /QUOTE]

We do seem to be getting some very different reports of how ORs and Trustees seem to be acting. I agree with you Des, the inconsistencies are alarming to say the least.
There must be a complaints procedure on the Insolvency Service website.

Mike_St_Helens

rog2 wrote:

desmonds wrote:

I think a complaint procedure is my next option. /QUOTE]

We do seem to be getting some very different reports of how ORs and Trustees seem to be acting. I agree with you Des, the inconsistencies are alarming to say the least.
There must be a complaints procedure on the Insolvency Service website.

It is odd isnt it how some OR's are great and some ar Ogres.... Mine was very very good indeed.

rog2

Mike_St_Helens wrote:

rog2 wrote:

It is odd isnt it how some OR's are great and some ar Ogres.... Mine was very very good indeed.

My OR interview, appeared to go VERY WELL and I really thought things were starting to get better - but when I got my first letter from the Trustee it almost seemed as though the OR interview counted as nothing.
I have just received a letter stating that my house is part of my bankruptcy estate, but no explanation as to what will happen - or indeed options on buying out my Beneficial Interest. Worst thing is that my wife has received a similar letter, stating that the house is part of the br estate, yet no mention of the fact that she owns half of it and that they can only go after my interest. I can't contact Trustee's office until 2nd January, yet they want info from me by the 3rd.
Desmond's post worries me.

Mike_St_Helens

rog2 wrote:

Mike_St_Helens wrote:

My OR interview, appeared to go VERY WELL and I really thought things were starting to get better - but when I got my first letter from the Trustee it almost seemed as though the OR interview counted as nothing.
I have just received a letter stating that my house is part of my bankruptcy estate, but no explanation as to what will happen - or indeed options on buying out my Beneficial Interest. Worst thing is that my wife has received a similar letter, stating that the house is part of the br estate, yet no mention of the fact that she owns half of it and that they can only go after my interest. I can't contact Trustee's office until 2nd January, yet they want info from me by the 3rd.
Desmond's post worries me.

Indeed... It seems the left hand doesnt know what the right hand is doing ! I say mine has gone well... all we have heard about is the IPA... Not a sausage on the car, house etc... so my bad times may well be just around the corner !

BTW Rofg - Did you have a nice Christmas? I worked it all... Have a good few days off at new year - and got my tickets to our pub we go to in town !!

tight_jock

Mike_St_Helens wrote:

Dabble - You are member number 30... Welcome !

Don`t wish to appear pedantic Mike but I think 30 has already been issued !!!!!!!!!!!! ( I`m 31)


:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

Mike_St_Helens

!!!!!! it.... right I need a roll call !

This is what I have so far.....

Name BCSC #
Me 1
Richard s 2
etlan 3
Anniestar 4
earwig 5
minniespender 6
Rog2 7
bluezone 8
Biffa 9
Goldielocks 10
james & Shell 11
davethe cue 12
sarahskint 13
sueshells 14
don5 15
grannyknits 16
severussnape 17
sandralovescats 18
dirtyepic 19
flis21 20
Getting it sorted 21
tudor8king 22
The Shuffs 23
livilou 24
Moonlitshadow 25
Bizzylizzy 26
USKOKS 27
marwartooth 28
Douska 29

njc12

Hi - please can someone help me. I've been lurking nervously in the background but really need some help! It does look like bankruptcy is the only option for me and my husband. We have >50K debt:eek:

I am losing sleep and making myself ill worrying over the following things:

1) Will we lose our house? We have no equity at all
2) will it affect my hubbies business?
3) Will my husband lose his car ( he is a driving instructor and so needs it for work)
4) I have quite a good job - will my company find out
5) What will we be restricted from doing when we are eventually discharged?

Thank you
njc12

rog2

njc12 wrote:

Hi - please can someone help me. I've been lurking nervously in the background but really need some help! It does look like bankruptcy is the only option for me and my husband. We have >50K debt:eek:

I am losing sleep and making myself ill worrying over the following things:

1) Will we lose our house? We have no equity at all
2) will it affect my hubbies business?
3) Will my husband lose his car ( he is a driving instructor and so needs it for work)
4) I have quite a good job - will my company find out
5) What will we be restricted from doing when we are eventually discharged?

Thank you
njc12

Hi njc and welcome to BCSC. If you read through the thread you will find answers to most of your questions - briefly:
1. Very unlikely that you will lose the house, if you have no equity. It may be possible that OR/Trustee puts a charge on the property so that when you eventually sell then he can take any equity. Alternatively you may consider selling your 'beneficial interest' to a family member for a nominal fee, which you can 'buy back' once you have been discharged. Fuller information can be obtained on the Insolvency Helpline website.
2. It MAY affect your husband's business, depending on how his business is set up - self-employed/limited company etc. It will make it more difficult for him to obtain credit, but bankruptcy will NOT mean that he has to cease trading. In fact he may not trade under any other name unless he declares that he has been declared bankrupt. We need a few more details on this one.
3. As your husband is a driving instructor, and his car is ESSENTIAL for his work, then he is unlikely to lose it, UNLESS of course the OR/Trustee decides that he can do the same job in a cheaper car - in which case OR will take his car, but will give him cash to buy a cheaper car. In my view this is highly unlikely as the car will be specialised (dual Controls etc.) and there is a possible safety issue.
4. Your bankruptcy WILL be publicised in the London Gazette and usually in one of the local papers, but that really is nothing to worry about - so far no-one has mentioned seeing my br in the press - haven't even seen it myself. If your employer asks you, then you are obliged to tell him, or if you are in certain sensitive jobs. You will also be restricted from working in some jobs, and most financial institutions during your bankruptcy period. I think it highly unlikely that you would lose your job if your company 'found out' but it MAY be better to 'tell them' first.
5. Once you are discharged then you are free of ALL restrictions placed on you during the Bankruptcy Period. You will find it difficult to get credit for the next 6 years and you may need to declare that you were bankrupt in certain situations - but generally you should be okay
Hope the above is of some use to you - it is not as scary as it may seem - stick around. :beer:

rog2

Mike_St_Helens wrote:

rog2 wrote:

Indeed... It seems the left hand doesnt know what the right hand is doing ! I say mine has gone well... all we have heard about is the IPA... Not a sausage on the car, house etc... so my bad times may well be just around the corner !

BTW Rofg - Did you have a nice Christmas? I worked it all... Have a good few days off at new year - and got my tickets to our pub we go to in town !!

Hi Mike - I think I was about 2 - 3 weeks ahead of you with my br. I hope you don't get the same problems, but I think that I am in the minority so it should be okay for you.:beer:

Had a GREAT Christmas - thanks Mike. Got my two Sisters in Law over from Italy so Christmas is still going on here. Sorry you had to work - I trust your 'customers' enjoyed their Christmas. Have a Fantastic New Year to compensate. :beer: :beer:

njc12

Hi Rog2

Thank you for taking the time to answer my questions.:beer:

I will carry on posting - Mike please can I become a member of the club?? I'm hoping it will help us through the whole thing!

Thanks again
njc12