The Bankruptcy Club & Supporters Club

sueshells

Thanks guys - got to dash out now but will be back later to read and digest.

Bottoms Up

sueshells

Hi Mike,

I'm newly bankrupt and greatly relieved. Happy and willing to advise and support anyone else based on my own limited experience.

Please may I have a number?

Thanks,

Sue:j

rog2

My BR hearing is now less than two weeks away - 26 Oct at High Court London.
As I am being made bankrupt by HMRC the only communication I have received, with the Creditor's Petition, is from HMRC and, as you would expect, deals only with their claim.
Do I need to make a full list of creditors and take this to the court with me?
Any advice, such as downloadable forms, would be greatly appreciated.
Thanks
Rog2

davethecue

Hi
On the insolvency website there is a facility to email questions regarding individual circumstances. I used this a few times when I was filling in my forms. They usually replied within 1 - 2 hours
I am sure they have a section for those being made br by someone else and what to do when this happens re other debts
good luck

davethecue

Hi
I found the contact details

the email for free help is info@insolvencyhelpline.co.uk or freephone 0800 074 6918.
As I mentioned they replied personally very quickly
Good luck

Richard_S

Hi Rog,

We received a form from the official reciever a couple of days after the hearing, and had to complete the form and take all relevant statements to our meeting with the o.r.

It might be worth phoning the court to see what the procedure is. I've read on here that people have gone from the court hearing to an interview with the o.r. We didn't go to the court hearing so maybe there's a different procedure if you don't attend.

From what I've read of your posts you aren't techically insolvent given that the equity in your house exceeds your debts. Have you considered re-mortgaging to pay your debts and avoiding the bankruptcy?

Rich

rog2

Richard_S wrote:

Hi Rog,

It might be worth phoning the court to see what the procedure is. I've read on here that people have gone from the court hearing to an interview with the o.r. We didn't go to the court hearing so maybe there's a different procedure if you don't attend.

From what I've read of your posts you aren't techically insolvent given that the equity in your house exceeds your debts. Have you considered re-mortgaging to pay your debts and avoiding the bankruptcy?

Rich

Thanks Rich - problem with re-mortgaging was twofold in that a) I had no income (currently on Jobseekers Allowance) and b) my age - 56:mad:

I did try this route, initially, but was knocked back. With my other debts, the amount I owe does exceed the equity in the house. I am, however, hopeful that OR will not insist immediately on selling my equity, and that I will have up to 12 months in which I can attempt to raise the equity, possibly by re-mortgaging, once I have found employment.

hayley50

Hi everybody, very 1st post, I have a lot of debt loans, cards, odraft etc. Spent years getting further into debt just making payments. Finally woke up almost ayear ago made arrangements with tsb loans and card, b-card, m&s. some of those arragements have no expired and been sold to debt collection tsb loans and kays catalogues. Others are continuing at 20 p.month. The only option I can see is bankruptcy, I don't have any spare income, indeed it is now spiralling new bank set up in jan now has -800 just keeping to arrangements made. I am very scared of the whole process main concerns being wages, tax credits and getting an account to live with. And I rent off a housing association LHT can I lose the house????
I'm sorry to go on a bit, you all seem like a friendly bunch and I'm shocked (in a nice way) that you seem happy and stress free.
I realise I'm new and cheeky to ask but if anybody has any advise it would be greatfully received.

rog2

hayley50 wrote:

Hi everybody, very 1st post, I have a lot of debt loans, cards, odraft etc. Spent years getting further into debt just making payments. Finally woke up almost ayear ago made arrangements with tsb loans and card, b-card, m&s. some of those arragements have no expired and been sold to debt collection tsb loans and kays catalogues. Others are continuing at 20 p.month. The only option I can see is bankruptcy, I don't have any spare income, indeed it is now spiralling new bank set up in jan now has -800 just keeping to arrangements made. I am very scared of the whole process main concerns being wages, tax credits and getting an account to live with. And I rent off a housing association LHT can I lose the house????
I'm sorry to go on a bit, you all seem like a friendly bunch and I'm shocked (in a nice way) that you seem happy and stress free.
I realise I'm new and cheeky to ask but if anybody has any advise it would be greatfully received.

Hi Hayley,

Just a quick word of welcome, as Mike hasn't been in this week.
There are other alternatives to bankruptcy and I would suggest that you post a SOA listing all of your incoomings and outgoings, and people on this forum will be better able to advise you.
Also, you would be well advised to speak with CAB or CCCS, who are charities and can recommend, free of charge, possible solutions.
If you do have to choose bankruptcy, I think it would be highly unlikely that you would lose your house, unless there is a clause in the HA contract that they will not let to undischarged bankrupts.
We are a friendly bunch and would be pleased to give you help and advice.

Cheers for now
Rog2

Addicted2Chocolate

Goldie locks glad you had a good experience of the insolvency service. can i ask if you completed a customer comment feedback form? i sometimes but rarely get feedback / praise as an examiner, and if more customers gave positive fedeback it would encourgage good practice amonnigst all insolvencys ervice staff.

Goldielocks wrote:

Number 10 it is then!

So far so good. The worry and anxiety before doing the whole thing was the worst thing. I worried constantly and kept thinking of situations or questions that might have cropped up. I was fine going to court as had heard from so many people it was just like going to the Post Office and more of a 'rubber-stamping' exercise. The court experience was fine, didn't even see the Judge!

I felt sick before the interview with the Examiner - really really nervous and worried. Panicking he would take my car, my belongings, chastise me for being a moron etc etc. How wrong I was. He was lovely, professional yet was a human being and had empathy and we even cracked a few jokes between us.

He was very 'generous' to me shall we say. I think the circumstances surrounding my need to go BR were in my favour - i.e. redundancy and then falling victim to a professional conman. I think if I had gone in there and said I'd gambled it all or spent it on drugs etc, he would have treated me differently. As it was, he was very fair to me. I have been allowed to keep my car which was my main worry, I've been given an IPA of £150 a month which again is fair. The only thing that has not been agreed is me keeping me laptop - but that's a small price to pay for 60K of debt wiped off.

All in all, I personally have found the BR process in this neck of the woods to be extremely efficient and swift. I got an appointment at the court quite quickly, saw the Examiner that day for an initial interview, then went back one week later for a proper interview with him. Communications by post have been very quick too. I have been very impressed with the way the Insolvency service has been run, in my case - all staff involved have been very professional and pleasant and I have been pushed through the system very quickly, without any problems. Well, no problems yet!

G