spending before Bankruptcy

now

kepar wrote: »

Lets be honest about this, probably about 90% of readers or users of this site have used credit cards when they know they have been insolvent. You may not realise at the time . but looking back you justified by using to make ends meet. We were using credit cards basically up until the day we went bankrupt. How do you think we raised the money to do the deed.
The OR asked how we had raised the money and we told him it had come off a credit card. He was fine with this.
My OH was still working but I was unemployed then, we were having to use credit to survive, we were still paying all the creditors up until about 2 weeks before we went bankrupt. We were in a vicious circle we were not earning enough through me being unemployed, so using credit to pay credit. This meant the bills were going up and I was having to find a job paying more and more.
Bankruptcy took us out of the circle.
Do not worry you will be unlucky to get a BRO/BRU. If you can get to look at the site , hopefully someone will put the link up for you. You will see that a lot have people have done a lot worse.
I hope it works out for you.

I totally agree with you, we are all here by using credit cards and loans and not being able for whatever reason to pay it back. So if you are BR then please cut some slack as scaring the pants of somebody is not what we all want to do. We used credit to pay credit and never even considered that we were doing anything worng other then making ends meet. Try not to worry I am sure ssomebody will post something that will help.

now

fermi wrote: »

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.

Thank you Fermi, you come along and talk some sense, this poor person has taken a lot of courage to post on this site so please help not judge unless you have walked in my shoes then you can say what you like

lilibet1

well said NOW. The thing is we really need people to come here and post honestly. I have said this before and i'll say it again, if people post exactly what has happened and get answers, other people will come along and feel able post their deepest worries too.

Please dont worry, how are you feeling about things today? xxx

kepar

Having read through all the posts again there are a few worries.
Firstly Immoral angel's input was taken straight from a scare manual, and shows that they are yet to go bankrupt.Yes we do things wrong but scaring is not advice.Most BRU/BRO's if you look at the site are for Gambling, taking out loans with no chance of repayment and repaying creditors to the detriment of others.
Secondly sorry Lilibet but if you are having a dig about me about not worrying, then you have it all wrong. I only found this about a month after I went bankrupt (22.5 months ago). Most of the info I have read on here since has been beneficial, but I find most of the wrong info comes from those yet to go bankrupt.
I worried about doing the deed, we went over and over our options, could we see any other way ,no. It is not an easy decision to make as you have found .
I have been reading your posts Lillibet and I see you have finally decided to go through with it, I am amazed how you have managed to get by without using any more credit since february. Most on here could not go 8 days let alone 8 months without using credit. Are you managing to pay your creditors or are you ignoring them. Waiting another 3 months to go bankrupt in that case could seem like an eternity with all the phonecalls.
Or are you managing to pay your bills but not able to really reduce the deficit and are looking at many years to get it at a manageable level. In which case you are not insolvent, but just want to clear your debts.
Why wait, if you are so deeply in debt and there is no way out, why not take the money off your cards and use that. The OR will now that is how the majority of applicants raise their fees. If I was in your shoes I wouln't wait, the stress levels will be riding high around Christmas with only a week or so to go, do it now and have a very peaceful Christmas.

ani_26

It seems to me, the OP has done a good job.....................................

lilibet1

Oh my god, im sat here in tears posting this as i have only just logged on since last night. If i have come across wrongly to you kepar than im very sorry, i wasnt in any way shape or form doing that. I have only tried to help. FYI i havent paid a creditor since feb i have not used credit since then and i have gone without things. I have decided to wait til after xmas because im scared but everytime i post here i seem to get it in the neck, i was trying to reassure not upset anyone. I dont know what to do anymore???? No hope have i upset you as i dont understand your post? I was trying to say that if you dont worry or care about going br then you are taking it too lightly not having a dig at you. I give up..........................if its not the trols its this. Also if your using credit now and not paying creditors, then how would anyone manage after br? You wouldnt have credit then would you?

I have to go im running late and i have to drive to pick my son up

kaisersoze_2

lilibet1 wrote: »

Oh my god, im sat here in tears posting this as i have only just logged on since last night. If i have come across wrongly to you kepar than im very sorry, i wasnt in any way shape or form doing that. I have only tried to help. FYI i havent paid a creditor since feb i have not used credit since then and i have gone without things. I have decided to wait til after xmas because im scared but everytime i post here i seem to get it in the neck, i was trying to reassure not upset anyone. I dont know what to do anymore???? No hope have i upset you as i dont understand your post? I was trying to say that if you dont worry or care about going br then you are taking it too lightly not having a dig at you. I give up..........................if its not the trols its this. Also if your using credit now and not paying creditors, then how would anyone manage after br? You wouldnt have credit then would you?

I have to go im running late and i have to drive to pick my son up

I think you have missinterpreted their post, i dont think they were getting at you at all.

dorisday

This discussion is to help the op and not to take things out on each other. Seems some folks have taken things a bit too far!! The op asked for help regarding his/her position, so why is somesone elses problems being discused. Someone seems a bit too sensitive! I cannot see where you think you are being got at because of a few words, it never entered my head they were suggesting you didnt take it seriously or even meaning it to be you. Having a bad day perhaps?

davidgmmafan

Regarding the car my advice would be not to sell it, unless of course you need the money to live off but that's a short term solution at best. As you intend paying it off the balance the only way to do this would be to apportion the money fairly between all creditors. Otherwise the OR may decide you have prioritized one creditor over others. Given the value of the car I would expect the OR to sell it anyway, if you need a car they will give you funds to purchase a cheaper replacement.

They will then divide the remaining balance fairly amongst the creditors. This saves you the worry of doing the maths and being fair to everyone.

At least if the OR does it you may still end up having a car.

lilibet1

Actually, kepar thought i was having a dig at him which i wasnt. I was trying to help.Also, im wondering why Kepar is amazed that i have got by without using credit for 8 months....why? I cant use any more credit as im planning to go br. I thought it would get me in big trouble by using more credit, or am i wrong? As i said before im not paying anyone as i cant afford to so therefore i am insolvent. I have read through Kepars post and are you saying i should use my credit card to go br? Would that not get me into trouble too?