I've done the deed - I'm officially bankrupt!

uther_2

I look at it this way.If I get an IPA it will be for 3 years.
My DMP was scheduled to run for 18 years.

wherediditallgo

That's the attitude I'm taking too. If I'd had to pay the debts off myself, I'd have been doing them for at least 12 years, probably nearer 15. An IPA for 3 years is bearable, providing the amount is manageable. I think (hope) the worst they can do with me is set an IPA of about £85pm, which is far less than I was paying & loads less than my creditors were trying to get me to pay. £85 x 36 = £3060 with me totally debt-free at the end. That's less than an 1/8th of what I owed - just under £22,600. Though I'd obviously far prefer not to have to pay it, I won't be complaining if that's the amount they expect of me.

NekoZombie

OMG! I'm in Holborn tooooooo! I was just thinking to myself, how odd, both of us didn't have to pay fees. As we have been through the exact same process, I will point out that I think it was only an initial meeting on the same day with the OR's administrator. I assume we went to the same place (past the British Museum) and I asked her if she was the OR or not. She assured me she was the administrator: Hence the shallow questioning. I may be wrong, but I don't think you're out of the woods just yet.

RE Co-op bank - I had the same thing. I went in and they told me to make appointment - which was for the following day so it was ok, as I work in Holborn. Went in yesterday and gave them all the paperwork. Did they ask you why you wanted a basic account?

Nevermind - congratulations! Had I known, I would have invited you for a celebratory drink in the pitcher and piano!

NekoZombie

Oh and its never too late for that drink!:D

wherediditallgo

Oh, I'll be taking you up on that once I know how much money the OR will leave me with.

Yes, it was the same building, so it probably was just an administrator too. I started celebrating with the Bacardi last night, but I'll postpone any jigs of delight & backflips for at least a month, i.e. until I know the OR has done with me & that there's no payment order heading my way in the immediate future. I'm about to ring her actually, because I want to find out what happens to any money still in my bank accounts (does the bank send it to the OR, or does the bank send me a cheque which I then have to report to the OR?). I also want to know about items ordered before bankruptcy where payment hasn't yet been taken from my account by the supplier.

Re the Co-op - they didn't ask me why I wanted the account, but I told them anyway. I didn't need to show them the proofs of address & ID that I'd brought, & the chap told me I should ring him this time next week to see what's happened with the application. He said there shouldn't be any problem unless there's been fraud, as the accounts are supposed to be available to bankrupts.