What will happen to my mobile phone?

watcher27

Hi,
Well, currently in the process of going bankrupt (see my other threads)
and have a question regarding my mobile.

It's an iPhone 4S 64GB that i got on launch day (october) on a 12 month contract. I know what your thinking...

But please don't be to harsh, i'm fully aware how stupid it was buying something like this when i was already in financial problems

But when a new gadget comes out, i get sucked in and HAVE to have it and somehow manage to justify the purchase to myself.
And it's financial reasoning like that that has probably contributed to us getting into this mess

So, what will happen to it? I'm assuming i need to list it on my SoA, and then the OR will want to know its value etc?

philnicandamy

Depends on the monthly cost..the network...

seeing as it's THE handset of the moment most carriers will ask for the handset back seeing as you've only had a few months if the contract was to be cancelled...

watcher27

philnicandamy wrote: »

Depends on the monthly cost..the network...

seeing as it's THE handset of the moment most carriers will ask for the handset back seeing as you've only had a few months if it's something you wanted to add to bankruptcy...

Well, I'm quite happy to keep it and carry on paying the contract if I'm allowed to?

But i assumed as it's worth quite a bit of money i would be forced to sell it/hand it back?

I'm not in arrears with O2 and am paying my contract as normal.

philnicandamy

Ah o2...you'll loose the contract i'm afraid

they recently changed their T&C's so ALL bankrupts now debts with them or not will have contracts cancelled end of...and they'll because of the short time and cost of the handsets probably ask for you to return it


I would imagine as well the OR will ask where the deposit for the handset came from as well....i'm assuming you had to pay something towards especially as it's only a 12mnt contract

watcher27

philnicandamy wrote: »

Ah o2...you'll loose the contract i'm afraid

they recently changed their T&C's so ALL bankrupts now debts with them or not will have contracts cancelled end of...and they'll because of the short time and cost of the handsets probably ask for you to return it


I would imagine as well the OR will ask where the deposit for the handset came from as well....i'm assuming you had to pay something towards especially as it's only a 12mnt contract

Fair play

Would it be better to sell the phone now, then pay off & cancel the contract with the money & keep the remaining cash to give to the OR?

And yes, i had to pay quite a lot for the handset. Around £450 i think on my CC
To pay for the phone, I then sold my old laptop to a guy at work for £300 which i transferred onto the cc recently.

Looking back, i can't believe i've been so stupid & naive

philnicandamy

i'd stay as you are for now let o2 worry about it...why should you sell the handset then pay the contract off when they'll cancel the contract themselves without any penalty?

watcher27

philnicandamy wrote: »

i'd stay as you are for now let o2 worry about it...why should you sell the handset then pay the contract off when they'll cancel the contract themselves without any penalty?

Ok, but i want to prove to the OR that i'm not a crook, just naive & stupid.
So i thought selling stuff & trying to pay bits off would be seen in a good light?
Im desperately trying to avoid a BRO

Also, how do O2 go about cancelling your contract? Mainly as id like the chance to transfer my number if possible.

mrcurious_2

I went BR last Feb and i kept my contract phone

watcher27

mrcurious wrote: »

I went BR last Feb and i kept my contract phone

Were you with O2? And how much was the phone worth, how long had you had it etc etc?

philnicandamy

watcher27 wrote: »

Also, how do O2 go about cancelling your contract? Mainly as id like the chance to transfer my number if possible.

they'll sort that soon as they know your bankrupt...so dont worry about it nobodys' going to think your a crook etc and if you did sell the handset etc to pay off bits this could land you in more trouble as you could be seen preffering a creditor

speak to o2 give them a heads up & see if they'll allow you to transfer your number to a PAYG sim that way it'll still be active...but bear in mind another contract will be VERY difficult to obtain till your at least discharged from BR at a later date

philnicandamy

mrcurious wrote: »

I went BR last Feb and i kept my contract phone

as I said o2 recently changed their T&C's as far as i'm aware nobody else as yet does this with a bankrupt customer