The Bankruptcy Club & Supporters Club

bizzylizzy

davethecue wrote:

Hi
You can go to https://www.insolvency.gov.uk and fill the forms online. You can do this at your leisure(!). By that I mean you don't have to fill them all in at once. You can save the bits you've done and come back later. I think they stay live for 6 months.
DO NOT print them off untill you are ready to go bankrupt as you won't be able to change details.
I took 6 weeks to fill mine out and I did change a few things
The site is really helpful and fairly straitforward
Good luck

Thank you, how many pages are there? (Thinking about the ink costs, specially as we need 2 lots.)

rog2

bizzylizzy wrote:

Thank you, how many pages are there? (Thinking about the ink costs, specially as we need 2 lots.)

About 45 pages - I also think that the on-line forms vary slightly from the court forms, but this will be clarified when you go to the court to file. Incidentally, you can often get help at the court in filling the forms.
If you are really worried about the cost of the ink:rolleyes: then print them in 'draft' quality.

livilou

livilou wrote:

hi there, I'd like to join, hubbys bankruptcy ended in february,have to say it was a blessing after being in business with a complete crook and losing nearly eveything it was the only option. we've worked hard to keep a float but our 2 small children have kept us going and given us a purpose.

I would be interested to hear from anybody who has had to buy the equity in the house - I have to do this for hubbies share - well hope to depends on what they want and they are only just addressing it and hubbies BR ended in february. any tips on how to negotiate this etc would be great.

have to say though if hubby hadn't gone BR our marriage would have gone down the pan and hubby was at brink of ending it all - sounds drastic but to him he had blown our future away, it's been a huge struggle to get back on our feet but I work two jobs, hubby works long hours and is retraining so we know it won't be forever.

so to all you fellow BR's or partners of BR's hello and thanks for this forum:beer:

xx

hi there, I seem to have got lost when the numbers were given out, has anybody got any experience in dealing with property in bankruptcy?
xxx

moonlitshadow

Hey everyone,
Hope you are all well & in good spirits this bonfire night!
Super pleased to find such a club...hubby and I are filling in B forms online now with the hope of a court date in early December (due to wages/standing order/new account opening timetable). What a Merry Christmas we shall have!
We've spent too many years under the cloud of never ending pro-rata payments to creditors, who, to repay our honesty at admitting we have a problem and hard work at trying to do something about it, just whack on hideous amounts of interest to make the amounts un-payable (is that a word? lol, it should be) (when I say hideous, I mean, for every £15 we pay in pro-rata payments, £200 in interest/charges is added to the debt) We've had arrangements in place with creditors for almost five years now, (three with a, shock horror, fee charging 'debt help agency'...if I knew then what I know now etc etc), and would still be paying when we drop down dead. And that, I hope, won't be for a long time yet! Bankrutcy, on the advice of CAB, is the only way out. Have spent so long thinking about it, worrying about it, arguing about it, and researching it now that the only emotion I have amount the whole process is resignation and a little bit of relief, and, dare I say it...happiness...even?! Know what I mean? Please don't think I'm being flippant at all guys - you know how tough it is to make the decision to tar yourself with the big ol' sticky tar brush of Bankruptcy...not quite the label I'd hoped for during my one meeting with the career guidance councillor at school.
Anyhoo - have read what I thought was everything I needed to know on the subject, but then this thread (particularly Sandralovescats, thanks!) has given me so much more useful information on IPAs/budgets/etc. Am I glad I found this club!!
So, could I please join and have a number??? I'd be honoured to be in the company of such esteemed members Will try to help others as much as I can, and will keep you all up to date on our progress...
Good luck all
C xx (AKA Moonlitshadow - don't you just love these screennames?!)

sandralovescats

Hello Moonlitshadow - I am happy to be able to help!

I have been out all day and just got back!

Do post soon!

rog2

moonlitshadow wrote:

Hey everyone,
We've spent too many years under the cloud of never ending pro-rata payments to creditors, who, to repay our honesty at admitting we have a problem and hard work at trying to do something about it, just whack on hideous amounts of interest to make the amounts un-payable (is that a word? lol, it should be) (when I say hideous, I mean, for every £15 we pay in pro-rata payments, £200 in interest/charges is added to the debt) We've had arrangements in place with creditors for almost five years now, (three with a, shock horror, fee charging 'debt help agency'...if I knew then what I know now etc etc), and would still be paying when we drop down dead. And that, I hope, won't be for a long time yet! Bankrutcy, on the advice of CAB, is the only way out.
Anyhoo - have read what I thought was everything I needed to know on the subject, but then this thread (particularly Sandralovescats, thanks!) has given me so much more useful information on IPAs/budgets/etc. Am I glad I found this club!!
So, could I please join and have a number??? I'd be honoured to be in the company of such esteemed members Will try to help others as much as I can, and will keep you all up to date on our progress...
Good luck all
C xx (AKA Moonlitshadow - don't you just love these screennames?!)

Hi Monlitshadow, and welcome to the Bankruptcy Club and Supporters' Club. Mike will be along soon to issue you your number (He's a bit busy as his own hearing is tomorrow).
You have made a tough decision, but forget all you have heard about the 'stigma' of bankruptcy and don't worry about the actual process. Most of us, on this thread, have either gone through bankruptcy or are in the process of going through it, and are only too pleased to share our experiences in the hope that it will benefit others.
Sandra, in particular, is to be congratulated for bringing her very organised mind to this thread - the information she has posted has helped many, including myself.
I look forward to following your progress and hope everything goes smoothly.
Rog2

sandralovescats

Organised Mind??? Oh well, I do try !

Rog2 I have a question - I have read posts from folks worried in case they are turned down for voluntary bankruptcy - I cannot find anything about that on the net. Why would they want to turn someone down? Any ideas?

rog2

sandralovescats wrote:

Rog2 I have a question - I have read posts from folks worried in case they are turned down for voluntary bankruptcy - I cannot find anything about that on the net. Why would they want to turn someone down? Any ideas?

I have to admit that I am at a loss as to why someone could be refused voluntary bankruptcy - I know that a judge can refuse a bankruptcy order, but, in my opinion, I can only see this happening if someone were using the bankruptcy route to avoid possible criminal proceedings, such as fraud. Even in that case, though, if the OR subsequently found that the 'bankrupt' had been operating fraudulently charges could still be brought.
I also saw, on 'chamber's' thread that, in the Channel Islands, bankruptcy can be refused if you have less than £1500 worth of assetts.
Or, perhaps, if your debts are less than £750.00 which is the minimum level of debt required for a creditor to petition for your bankruptcy.
I am sure someone will enlighten us.

moonlitshadow

I can't find anything either, but I recall reading that you can only really be turned down in extreme circumstances, for example, if you have enough equity in property/cash in the bank to clear your debts without involving the courts...or perhaps if you don't owe 'enough'...but then that's hardly going to be likely if you've got to the stage where Bankruptcy is an option is it?!
Will have another look, see if I can't find some more official guidelines on the subject! C xx

rog2

livilou wrote:

hi there, I seem to have got lost when the numbers were given out, has anybody got any experience in dealing with property in bankruptcy?
xxx

I'll remind Mike, although he may be a bit busy for the next day or so.
I am just rading through the Insolvency Service information booklet on 'What will Happen to my Home'. I think this is also available on https://www.insolvency.gov.uk
Cheers
Rog2