spending before Bankruptcy

screwedpocket

hi
i have been haveing problems with money for some months. i have been to the cab to get some help. they have said Bankruptcy might be my best choice.
i am getting calls from the bank each day.which i am not taking as i dont no what to say. it is starting to make me ill worrying about all of this, i want to get the problem sloved as soon as i can


but i feel i have been very silly as i have recently spent some money online it was quite a bit of money around £500 pounds. i also drew some cash out of the bank also about £500 pounds. I owed some of the money but the rest i wasted.
I feel allfull now sick to my stomach. i was at a low point.

i am now worried i have committed fraud.I can not return the items and they were needed for my job interviews and house.

i dont want to make problems worse but feel i have.
thanks for any advice

immoral_angeluk

So you have taken out money using credit knowing you were insolvent?

What type of items were they?

screwedpocket

there were cloths, i am not bankrupt yet but i dont have any money or a job at the moment. i no it was very stupid. i am just worried how the court my see this if i do go bankrupt in then next few months.

immoral_angeluk

screwedpocket wrote: »

there were cloths, i am not bankrupt yet but i dont have any money or a job at the moment. i no it was very stupid. i am just worried how the court my see this if i do go bankrupt in then next few months.

You had been to CAB and advised to go Bankrupt as you don't have any means with which to repay your debts, therefore you are Insolvent and used credit knowing so, therefore, if the Official Receiver (the person who deals with Bankruptcy) believes you have behaved recklessly or indeed been fraudulent then they can give you a Bankruptcy Restrictions Order and extend the restrictions you are under while bankrupt or up to 15 yrs. Worst case scenario is that they believe you to be severely fraudulent and take criminal action. But it's all speculative. If it was things you needed they'll probably just give you a BRO.

fermi

If they were clothes for job interviews and essentials for a house, then the Official Receiver may well be understanding over that.

In fact I've heard of them doing no more than a "tut tut" in the interview for similar things.

No guarantees. Every situation and OR is different.

Even if they were EXCEPTIONALLY harsh and gave you a BRU/O for that, then it would be a short one. Considering that a bankruptcy stays on your credit record for 6 years, a short BRO/U is meaningless for most people.

So be aware of what might happen, but I honestly wouldn't panic over the prospect.

screwedpocket

oh that dose not sound to good, i did need some new stuff for job interviews but i think i have spent to much. i feel i have made the problem worse.
thanks for you advice
what dose BRO mean.

philnicandamy

have a read here

http://insolvency.gov.uk/pdfs/guidanceleafletspdf/bro.pdf

but for what you did I seriously wouldnt worry about it...

screwedpocket

thanks for your time also glad i found the fourm

philnicandamy

anything else just shout...sometimes its not half as bad as your imagining it will be

we've all been through it..just have our own stories!

JCS1

How much are your total debts? The £1,000 spent would need to be material to the overall debt before they would consider a BRO/BRU

immoral_angeluk

Sadly as already mentioned, it's very much down to your official receiver. You just have to make sure you tell them, in which case they may be sympathetic. If you DON'T tell them and they inevitably find out, they will not be so sympathetic.