bankruptcy help very worried...

imustbedreamin

arghhh wrote: »

sorry for all the questions, another one, do we have to notify people like the waterboard, gas and electric companies, the council tax offices etc. that we are BR?

its very easy to think that by going BR you have to tell the world and wear a sign round your neck saying BANKRUPT!!!!! for the rest of your life but in reality its not like that.

kepar

imustbedreamin wrote: »

its very easy to think that by going BR you have to tell the world and wear a sign round your neck saying BANKRUPT!!!!! for the rest of your life but in reality its not like that.

Too true for over a week after going br I felt the world was looking at me and Knowing what I had done. Even after it was put in the local rag, the only person to comment was a friend who knew about it. She just commented that it was in the paper, now over 21/2 years later she is the only one to have commented. Others have got their own problems.

arghhh

in the local paper? they dont do that anymore do they, it just goes in the london gazette?

one of the main problems we would have is that if we lost the car we would then have to explain to family members why the car had gone....

i have just read on the forums the 'what happens to my car' section from reading that i'm pretty sure we would loose it, but it says you can buy it back.... our car is a 99 v reg, bit rusty in places currently no MOT (due to be fixed on friday thanks to a family member) do i delay the repairs so therefor the car is non useable and we would be able to 'buy it back' at a reduced cost? or have i mis understood that

i'm asuming then tho, we wouldn't be able to get the car repaired or drive it for the 3 years?

mandyl

yeah they do. london gazzette and local, but who cares ? at least your doing something and not just nothing

arghhh

oh, we were told that it wouldn't go in the local they dont do that anymore it only goes in the London Gazette,

i know people would read it in the paper mainly family members is what concerns me, i know its our own fault we are in this mess but i dont want the added 'dissapointed' comments and looks from family which is why we werent going to tell them about any of this, just like they are unaware of the IVA.

debtinfo

most bankruptcies do not go in the local paper.

What do you need the car for?

arghhh

as previously mentioned getting the kids to and from school and grocery shopping, so what they would class as 'convinience' really i suppose

theres just so much info to try and take in

Ineedaname

arghhh wrote: »

i wish i had your confidence, i think i need to get hold of some of the BR paperwork and see it for myself maybe its the fear of the unkown thats bothering me with regards to thinking theres going to be masses of paperwork to fill in? It's really not that bad, most of it is just facts and figures you should have the paperwork for anyway, debts and assets.

the IVA company have pretty much said they dont think the creditors will accept the new payments so they would have (after the meeting on monday) looked into things like BR anyway


Do we have to have defaulted on the IVA for 3 months is it before we can file for bankruptcy, if we no longer have to pay the IVA company their £338 thats something that could potentially be saved each month and we have now cut down sky and various other things to try and save some money there too so am sure that if it is 3 months before the creditors would start harrasing us again we could possibly save up the BR fees within that time, maybe 4 months at a push for the last couple of hundred. I think that's what was advised earlier in the thread, default, wait 3 months, then go get free advice and file BR. Yes, you could use the money you aren't paying to the IVA to save for your fees. If you do start getting letters just file them away with a smile. Phonecalls can be ignored, hung up on or just left on the side until they get bored and hang up.


also february time if he's lucky hubby may get a bonus from work, usually around £700 ish would this have to be declared to the OR? It's a pity this wouldn't happen earlier or you could have used it for your husband to go BR. It will need to be declared to the OR, just tell them within 21 days of the payment.

Hope this helps a bit more. The forms can be found on the Insolvency Service website. Scroll down to 6.27 and 6.28 - don't wory too much about how complicated 6.27 looks, it's actually fairly straight forward and you can get help on the forum for how to complete it, or the Court Clerk will be able to tell you which bits to cross out.

Ineedaname

I think if you were to keep the car off the road for the next 3-4 months until BR then an OR may view that as you have managed without it and can continue to do so.

Obviously there's no guarantee that if you pay to have it fixed you will get to keep it anyway.

arghhh

thats another problem we face... because our debts were with companies themselves when we passed them onto the IVA company, since they were with them and before the IVA was granted they have been passed to collection agencies e.t.c so now i am pretty clueless as to who we owe and what, if we're not going through them i'm pretty sure that they will delay in sending out such information if we request it.... so not sure how i would compile a list of creditors