Going bankrupt on Friday - HELP

Finallysorted

Hi everyone

I am finally taking the plunge after years of being stupidly in debt (circa 67,000) and am going bankrupt this Friday 27th July 2012. I already have an account with ThinkBanking so know thats going to be safe & I'll be able to continue using my debit card but just want to know what to expect at the court and what sort of questions I might be asked?

I am a bit scared, nervous and strangely excited for my fresh start although obviously know its not something to be proud of, its been a long time coming & getting my head out of the sand and finally having the courage to do something about my crazy debt, as its my only option now, having tried debt management and other routes in the past.

Any advice from anyone having gone through the same thing would be great and also any advice on where and when I might be able to apply for a credit building card and whats the best to go for? It would literally only be to build my credit back up as have definitely learnt my lesson when it comes to out of control debt . I'll never let money take control of me again.

Thanks for reading x

Mouse1812

Court will be fine. You might not even have to go in and see the judge, some just stamp the paperwork.

If the judge does wish to see you they will be very nice. They may wish to know if you have taken advice and how much the debt is. But you won’t be asked why or told off.

My judge started telling me all about the poor lady before me, it was only a £2,000 and he tried to talk her out of BR. My case was a little easier for him.

We also had a nice chat about courtroom technology after he had to take a call and make a ruling right in the middle of my hearing. Then he wished me luck and said goodbye.

I’m not bothering about credit building, so I’ll leave that for others to comment on.

Deep_In_Debt

Hi

I can't really help on the BR side but please reconsider Think Banking. They take a set up fee of about £25 and then about £12 per month or something. That's money that could be in your pocket than in the pocket of these sharks.

Co-op Cashminder offer a BR account and it's fee free and you can manage it yourself on line. Barclays offer a basic account even if you owed them in BR but make sure you ask for a basic account. both accounts come with debit cards and you can set up standing orders and direct debits.

Please don't pay for Think Banking...there is no need.

Finallysorted

Thanks so much for your speedy replies, I truly do appreciate any advice you can give!

And yes you are so right Deep Debt, thank you - ThinkBanking are actually taking 14.50 a month! I am going to open a Barclays basic bank account then as have no debt with them - will I need to tell the OR or do you think I should wait to open it?

Deep_In_Debt

Hi FS

As I say, I'm not really sure on BR, I just checked the thread and saw Think Banking and alarm bells rang which prompted me to post.

I think you can just go ahead and open a Barclays account without informing the OR - my ex OH went BR a few years ago and opened a Barclays account when he owed the money in BR to Barclays which is why I suggested. Make sure that you do apply for the basic account as they have a tendency to try and sell you a proper account and will reject you.

And £14.50 for managing an account...crikey!!! Gone up since I last checked them out.

Good luck.

tigerfeet2006

Account will be fine to open when you want.

Who did you take advice from?

Finallysorted

Thank you. I have had advice from everyone I think! From the CCCS to Debt Relief, I have lost count of all the companies over the years. I decided to get advice from a company called Clear Insolvency who have filled out my forms for me and helped in other ways too throughout this process, yes there was a fee but I feel that for me, it was worth it as took the stress away from my shoulders and am now confident that my forms are filled out properly and that my bankruptcy will be accepted.

I have not gone into this lightly at all and have tried hard over the years to resolve my debt problem without success and due to my circumstances now feel this is the best and only way forward for me financially.

Fingers crossed it all goes ok on Friday.

churchill33

Wishing you well for tomorrow. Not took the plunge yet, but will not be far behind you.

Deep_In_Debt

Good luck for Friday.

I'm sure once Friday is over, you'll feel a whole lot better.

mynumber

Hi finallysorted, i wish you luck for Friday, im thinking that is the way for me after struggling to pay 22k debt. always paid my way, im 52, but its been a bad 3 years and to tell you the truth ive had enough of felling as bad as i do, so its me that will be quizzing you after Friday, take care k

Finallysorted

Thanks everyone. I am feeling nervous today, 24 hours to go....will keep u updated. By the way do I sign the petition forms before I get to the court or in front of the judge? Sorry if seems like a dumb question I just don't know if my signature has to be witnessed too?