Bankruptcy and the aftermath!

DoubleTrouble_2

Good morning everyone.

Has anyone experienced any real "difficulties" or embarresment during their BR year, such as having their name in the paper or being continuously refused a home to rent etc?

I read so many happy endings on here which is really encouraging but I just wondered if anyone had experienced situations in that first year that made them wonder if they really had done the right thing, even though it was the best thing (if that makes sense!)

Also if your name does go in a local paper - how long is it in there for?

Although the debt burden will be relieved just want to understand any possible phsycological effects that we could be unaware of and are waiting to pounce!

Thanks

tigerfeet2006

Your name no longer goes in the paper.

You may have difficulties getting contents insurance but there are some that will insure you, so not impossible.

Renting during BR is a struggle but not impossible, it just takes perserverance.

mandyl

hi tigerfeet
is there a reason why getting contents ins is difficult?
im praying if i keep my bike i dont have terrible trouble renewing the insurance

NeverAgain_2

No local paper publicity as tigerfeet says, although there is sometimes an announcement if the bankruptcy is linked to a business.

mistiforme

TBH I found the silence quite deafening and spooky No harrassing phonecalls or letters etc. No contact from the OR apart from the original interview.

I was so spooked I felt like contacting my creditors to find out if they were ok with my BR I was actually seeking their approval!!!! I didn't of course but the feeling was there

Good luck to you always

Misti x

Ineedaname

This thread explains the difficulties some experience with insurances and why. Not everyone has problems as not all insurers ask the BR question, it just means you have to shop around a bit more. If you use the comparison websites, answer 'no' to BR to get a competitive quote and then ring up to discuss whether BR would affect the premium and/or liability.

DoubleTrouble_2

:rotfl: Mistiforme - Feeling like you want their approval, that did make me chuckle!

That's good about the papers etc. don't much like the idea of chinese whispers going around the local community

mandyl

hi Mistiforme
thats the bit im most looking forward to, no post. hopefully lol

dojoman

To be honest up to now I have not encountered any real problems at all. I have always managed to obtain insurance whether for the home or car and always paid by installments. Have a look at this link about home insurance:)

https://forums.moneysavingexpert.com/discussion/3289126

Teen_the_Drama_Queen

Hi there

DH and I are 3 months into BR and not come across any issues as such. The only thing that worries my DH is that he has 'failed' somehow in life (I see it more as we have been foolish with money) and he is not best pleased that some of my relatives have mentioned our 'financial issues' with other family members and that things such as this should be private.

He is also struggling with the fact that the house he comes home to is not ours (i.e. rented property), but I see it that as least we have a roof over our heads and so what if its never ours? We are both working and surviving but at least we are not now worrying ourselves senseless about how we are going to pay our credit card bills and loans this month.

As I say, no real issues in BR, but it depends on your take in life, I suppose..... Is your glass half empty or half full??

mandyl

its half empty but then thats what depression does for you.
i dont think you or anyone has failed. in fact i recken its the opposite, had the courage to face it and get through to the other side
so well done all