The Bankruptcy Club & Supporters Club

scootw1

rog2, thanks for the kind words. Glad to see someone on my side.

moonlitshadow, whoops forgot the TV licence on my list of outgoings. Knew I'd forgotten something.

I am about to send a letter to my solicitors cancelling the arrangement and am going to arrange an appointment for bankruptcy next week.

Mike_St_Helens

Hiya guys.. the OR told me SKY is a No No.. I submitted these figs to debtquestions & the Insolvency service for their opinion and they said these look generally OK...

OUTGOINGS
Mortgage £470.00
Council Tax £100.00
Building Insurance £35.00
Gas £50.00
Electricity £50.00
Water £30.00
Christmas / Bday / Hols £60.00
TV Licence £12.00
Telephone/PAYG Mobile £50.00
Road Tax/MOT £20.00
Car Insurance £40.00
Petrol/Public Transport £200.00
Car Maintenance £40.00
Breakdown Cover £10.00
Food/\Household Goods £320.00
Dry Cleaning £20.00
Clothing/Footwear £40.00
Haircuts £20.00 £10.00
Asthma 'swimming' £30.00
Prescriptions £15.00
Dentist/contact lenses/Glasses £15.00
Pet Insurance £10.00
Pets £25.00
Total Expenditure £1,662.00
Total Income £2,000.00

These are only draft figs and may be adjusted somewhat... But it shows the jist of what you can and cant claim ...

Mike_St_Helens

Its for 2 of us BTW

goonergirl

Mike_St_Helens wrote:

Hiya guys.. the OR told me SKY is a No No.. I submitted these figs to debtquestions & the Insolvency service for their opinion and they said these look generally OK...

OUTGOINGS
Mortgage £470.00
Council Tax £100.00
Building Insurance £35.00
Gas £50.00
Electricity £50.00
Water £30.00
Christmas / Bday / Hols £60.00
TV Licence £12.00
Telephone/PAYG Mobile £50.00
Road Tax/MOT £20.00
Car Insurance £40.00
Petrol/Public Transport £200.00
Car Maintenance £40.00
Breakdown Cover £10.00
Food/\Household Goods £320.00
Dry Cleaning £20.00
Clothing/Footwear £40.00
Haircuts £20.00 £10.00
Asthma 'swimming' £30.00
Prescriptions £15.00
Dentist/contact lenses/Glasses £15.00
Pet Insurance £10.00
Pets £25.00
Total Expenditure £1,662.00
Total Income £2,000.00

These are only draft figs and may be adjusted somewhat... But it shows the jist of what you can and cant claim ...

Hi can i just ask where you put all those figures on the BR forms? only it doesn't ask for all of them? just household and council tax,elec,gas and then any other (do you put them all in any other?)
and
Should it balance at the end ie what we have coming in is what we have going out ? by adjusting the figure we spend on food I can make it balance otherwise we spend over our incomings? (does that make sense?)
do they want to see it balance or doesn't it matter if it minus figure?

a
x

rog2

Hi guys,

I had my first meeting with the Official Receiver yesterday. Sorry I didn't post an update last night, but I was absolutely shattered when I got home and treated myself to an early night.
I had been told, by letter, to expect the meeting to last up to 2 - 3 hours. In the event it lasted almost 3 and a half hours.
Whilst my bankruptcy hearing was in the High Court, the OR meeting was, fortunately, in Bristol -a bit nearer home and easier to get to.
I had been apprehensive about the meeting, having received a 32 page questionnaire and loads of booklets about what will happen to my house etc. In the event, the meeting was far from daunting. My receiver, who had previously seemed very 'officious' on the phone, met me at the reception, and took me into a pleasantly furnished interview room. She explained that, at any time, should I require a break, or refreshment, just to ask.
The actual interview was based on the form that I had filled in and basically I was asked to elaborate on the answers.
The OR did not, at any time, query amounts of debt, although she did go quite deeply into the reasons for them.
With regard to personal items, such as furniture, she explained that it is not automatically discounted from the bankrupt's estate, but that you have to 'apply for it to be excluded' - this just meant signing a statement to that effect - she did explain that this is, normally, a formality.
She did, specifically, ask if I had any items of value, eg antiques or 'plasma TV' and with regard to my laptop she told me that it was very unlikely that I would be asked to give this up as I needed it in my search for work.
A large part of the interview was focused on the principle reasons for my bankruptcy - how I had been dealt with by HMRC, whether HMRC had offered any help etc. and on the main reasons why my business had suffered. In fact she actively encouraged me to point out any area where I thought I had been badly treated, and wrote down all points I raised.
She also explained that a 'trustee' would be appointed, and that, dependent on her boss, could be as a result of a meeting of creditors or, since HMRC were my main creditor, they could ask HMRC to appoint a trustee of their choice. (I must admit that I would question the 'independence' of a trustee appointed by my main creditor).
She did say that, due to the equity in my house, it is likely that the trustee will ask me to sell my share very quickly. I have to be honest and say that does worry me, so I will be seeking specific advice.
I was not given an IPO as I currently have no income - however, she did explain that this could change once I am back in employment.
She also 'minuted' the meeting in the form of a 9 page 'statement' which I had to sign, and gave me a copy. There were one or two 'off record' answers that I gave during the interview - but she did not include these on the statement.
She gave me receipts for all items left which included my credit cards, cheque books, share certificates and statements. I was unable to sort out all of the bank statements that had been requested and was expecting to be admonished - instead she just asked me to post them on as soon as I could.
She did also explain that my meeting differed slightly from most in that I had been petitioned for bankruptcy by a creditor, rather than self-petitioning, but she also explained that, from now on, I would be treated no differently than any other person.
Once I had signed all of the other forms - perjury, authorisation for trustee to contact HMRC etc, I was asked to read and sign the 'statement' of which she gave me a copy.
We then had a general off-record chat about the recent increase in the number of insolvencies and the differences between an IVA and Bankruptcy.
I also mentioned that I have been mailshotted, since my br hearing, by many companies offering IVA as a solution to bankruptcy. Whilst she agreed that, in some cases, an IVA could be used to overturn and annul a bankruptcy, this was not very common.
Finally left the OR at 5 pm and had to stand on the train. When I arrived home I was mentally shattered, but totally relieved that that part of the process is now over. I must now wait for the 'trustee'.
I hope that this could be of interest to others - I think that my main message is not to worry, answer all the questions as fully as you can and be honest.

Mike_St_Helens

Ill be honest hun, Mine was a partnership BKY so my forms were different, I can just give them a spreadsheet with it all on... But I guess you can uinclude the above items in other.

Try as much as you can to make your income and outgoings match as much as you can. Anything over 100 surplus they will have a % of... Try not to make it negative as they may question it and scrutinise f the figures are inflated..

Mike_St_Helens

rog2 wrote:

Hi guys,

I had my first meeting with the Official Receiver yesterday. Sorry I didn't post an update last night, but I was absolutely shattered when I got home and treated myself to an early night.
I had been told, by letter, to expect the meeting to last up to 2 - 3 hours. In the event it lasted almost 3 and a half hours.
Whilst my bankruptcy hearing was in the High Court, the OR meeting was, fortunately, in Bristol -a bit nearer home and easier to get to.
I had been apprehensive about the meeting, having received a 32 page questionnaire and loads of booklets about what will happen to my house etc. In the event, the meeting was far from daunting. My receiver, who had previously seemed very 'officious' on the phone, met me at the reception, and took me into a pleasantly furnished interview room. She explained that, at any time, should I require a break, or refreshment, just to ask.
The actual interview was based on the form that I had filled in and basically I was asked to elaborate on the answers.
The OR did not, at any time, query amounts of debt, although she did go quite deeply into the reasons for them.
With regard to personal items, such as furniture, she explained that it is not automatically discounted from the bankrupt's estate, but that you have to 'apply for it to be excluded' - this just meant signing a statement to that effect - she did explain that this is, normally, a formality.
She did, specifically, ask if I had any items of value, eg antiques or 'plasma TV' and with regard to my laptop she told me that it was very unlikely that I would be asked to give this up as I needed it in my search for work.
A large part of the interview was focused on the principle reasons for my bankruptcy - how I had been dealt with by HMRC, whether HMRC had offered any help etc. and on the main reasons why my business had suffered. In fact she actively encouraged me to point out any area where I thought I had been badly treated, and wrote down all points I raised.
She also explained that a 'trustee' would be appointed, and that, dependent on her boss, could be as a result of a meeting of creditors or, since HMRC were my main creditor, they could ask HMRC to appoint a trustee of their choice. (I must admit that I would question the 'independence' of a trustee appointed by my main creditor).
She did say that, due to the equity in my house, it is likely that the trustee will ask me to sell my share very quickly. I have to be honest and say that does worry me, so I will be seeking specific advice.
I was not given an IPO as I currently have no income - however, she did explain that this could change once I am back in employment.
She also 'minuted' the meeting in the form of a 9 page 'statement' which I had to sign, and gave me a copy. There were one or two 'off record' answers that I gave during the interview - but she did not include these on the statement.
She gave me receipts for all items left which included my credit cards, cheque books, share certificates and statements. I was unable to sort out all of the bank statements that had been requested and was expecting to be admonished - instead she just asked me to post them on as soon as I could.
She did also explain that my meeting differed slightly from most in that I had been petitioned for bankruptcy by a creditor, rather than self-petitioning, but she also explained that, from now on, I would be treated no differently than any other person.
Once I had signed all of the other forms - perjury, authorisation for trustee to contact HMRC etc, I was asked to read and sign the 'statement' of which she gave me a copy.
We then had a general off-record chat about the recent increase in the number of insolvencies and the differences between an IVA and Bankruptcy.
I also mentioned that I have been mailshotted, since my br hearing, by many companies offering IVA as a solution to bankruptcy. Whilst she agreed that, in some cases, an IVA could be used to overturn and annul a bankruptcy, this was not very common.
Finally left the OR at 5 pm and had to stand on the train. When I arrived home I was mentally shattered, but totally relieved that that part of the process is now over. I must now wait for the 'trustee'.
I hope that this could be of interest to others - I think that my main message is not to worry, answer all the questions as fully as you can and be honest.

Rog glad to hear from you... You havent been sent to debtor prison.,.. why on earth not you nasty bankrupt !!

Well done, next hardest part over, and nearly all over mate !!

Have a great weekend, with plenty a beer !

Well done mate again.....

scootw1

Do you have to prove any of the figures you give them? I want to put down buildings insurance but I dont have it at the moment?

What happens during the year? Do they scrutinise your bank accounts periodically?

goonergirl

thanks
I don't think I can include half of that cos we don't pay out all them things anyway!
haven't been to the dentist in over 10 yrs as I can't afford it. When OH needed new glasses we made insurance claim as he has really strong prescription and his lenses are about £250 without a frame!! I need new glasses but they have to wait !
haircuts: luckliy free as I trained as a hairdresser so cut my own and OH s
Our food bill is about £300 a month but that includes school dinners and OH tobacco but it does put us over our incoming so I reckon Ill adjust it down as none of the other figures are inflated!

I rang court yesterday to see if I could book appoint for early feb when we will have the fees saved (and gulp had our holiday!!! naughty feel sick about it !) but she said Oh we don't make appointments that far ahead as we normally see you with in the week! so I ll have to wait to make appointment!

Just had letter from natwest charging us £38 for bouncing the loan direct debit (we have with them too!) so reckon they gonna come knocking soon!

a
x

Mike_St_Helens

scootw1 wrote:

Do you have to prove any of the figures you give them? I want to put down buildings insurance but I dont have it at the moment?

What happens during the year? Do they scrutinise your bank accounts periodically?

I think you would be OK claiming that, as long as you are 'in the process of taking it out' If you have a house anyway, is there a reason it isnt insured ?

Like I said above, I wouldnt go inflating figs, as im sure they will see what is reasonable and is not reasonable... they see it all the time, so the OR will have a good idea when someones trying to pull the woll.

Im not sure about statements, But I guess they can ask them from the bank anyway even wothout your permission, but if you have northing to hide, then there is nothing to worry about.