spending before Bankruptcy

tigerfeet2006

Lilibet, sweetheart, take a deep breath and ignore. You are doing the right thing for you at the moment. You know you are insolvent so you are living with in your means and paying all essential bills. You know what your creditors can and can't do and you are prepared to sit it out until you can get the money together for your BR. When you go BR you know you will be able to cope because you have managed to live with in your means for so long.

(((hugs)))

screwedpocket

lilibet1 thanks for you help i don't think you were being anything other than helpful. I think it is easy to misread things on forums. I understand what you meant by people doing worse than spending before going br and it is the ones that worry about it are normal the ones that are trying to do the right thing.

if you have not gone thourgh something like us it is like the blind leading the blind. i would not like to advice you on what to do as i dont no myself what to do. I really dont think there is a good enough rule book for this.

any way i got a call from the cab today and she was helpful, the worse thing now is how i explain what i did to her as she is trying to help me and i have just spend money i dont have. I think it may look like i am taking advantage.

chin up and smile its a new day tomorrow
thanks agian

lilibet1

I know darling, i wish there was a rule book too. Something that would tell us how wrong we are if we have done something silly i.e. youre worrying about £1000 which to others may be a minor worry as they have spent 50,000 for example or more gambling. It is like the blind leading the blind!! I hope you know that i was trying to be kind and helpful as i can tell you 100% that im scared and very worried too and i can promise you that i wouldnt ever judge anyone as were all in the same boat to a certain extent.

I think that youre going to be fine and im sure i will too, its just early days..

xxx

lilibet1

hi could you explain the last sentence please "pay it back through your bankruptsy" as i dont understand. Sorry

Thanks x

confused?

i really do not think the or will be that bothered about £1000, when i found out i was being made bankrupt i paid all my bills up for the year out of my overdraft. amounting to nearly £x k. but only did it as i didnt know what was going to happen and wanted to protect my family.

my OR, however unreasonable they have been with other things actually understood.

just be honest thats all you can do but dont try covring your tracks or say you gambled it away! cos thats reckless.

In my experience which is limited to my case (correct me if im wrong) the worst that can happen is you may have to pay it back through your bankruptsy which costs what it costs anyway.

confused?

lilibet1 wrote: »

hi could you explain the last sentence please "pay it back through your bankruptsy" as i dont understand. Sorry

Thanks x

well in my bankrupsty it is costing me as i have a thing called an income payment order which is an amount taken from my wages for 36 months.

its not guaranteed in everycase, (bearing in mind im a newby to this too) that you will not have to pay anything back by going bankrupt.


If you have any Q's there are lots of people on here who know their stuff so dont be affraid to ask !!

lilibet1

Oh thanks confused

its good to hear that the or understood you using your od to pay bills up-to-date, i understand now!

x

davidgmmafan

screwedpocket believe me the CAB will have dealt with MUC WORSE scenarios than yours. Its not like you spent it on drugs or gambling, you bought CLOTHES for interviews. This is similar to one of the criteria regarding a car.

The OR is more likely to exempt it if it is needed for work, I'm sure there's something in there too about the bankrupt having more chance of finding employment if they have a car. The value is the problem here if you need a car.

IMO however bad you feel there are MUCH worse things you could've spent the money on, and again, the CAB and the OR will have seen much much worse. They're not there to judge, they're just doing a job.

kepar

The thing is Lillibet , using an overdraft to pay things is the same as using a credit card, it is credit. I am sorry if I upset you, in fact I was trying to help. What I was trying to say was if you are not paying creditors now, surely waiting another 3 months will only add to stress levels and such. If you have access to the money , through any form of credit, it is worth trying to get things done.
As stated in the first sentence using your overdraft is credit and the majority of OR's will have seen this being used to pay the fee time and time again.

broxiebear1

ok i have been reading the posts here ill tell you my situation
and before anyone tells me im mad foolish i know i am, in deep !!!! also ,i posted some time ago regarding buying a tv on credit , ill tell you my story.
on januarry i missed a payment from bank was strugglin to make ends meet robbing peter to pay paul well i phoned bank and woman was that rude i decided enough was enough so i stopped paying cards loans etc , got the phone calls so changed phone number still recieving letters went for advice and as i work live in scotland i have to wait for a charge for payment before i can go b.r anyway i was getting clothes from next and paying them then they stopped my credit i owed them £150 still paying them bought tv from argos along with other things was hoping to clear debt off before i went br .on sat recieved summons from small claims court regarding debt of £480 overpayment benfit from council . court date december phoned money advice scotland and they said it will probaably be febuarry before i get charge for payment.
i told her about argos and said i was hoping to clear it before i went br she said it was up to me but i have to list all creditors on br form
so i am for it.
what can i do plead ignorance, regarding paying one creditor over another . or dont pay them then they will think its fraud,
i think i will pay them as much as i can .
as i said at beginning i KNOW I HAVE DONE WRONG will just have to take whats coming to me its getting scarey now its a realiaty:(