Discharged today! Feel Great...

geek_girl

Well what can I say..... the years been tough but I think I've been more fortunate than most.

I mothballed my business (resigned as a director and placed my partner in charge) for a year and took some time out to finish the masters degree I always wanted to do but could never justify the loss of earnings to do. Couldnt see the point of working just to have a three year IPA - and I would have had a very large one - it made the degree more justifiable.

Recently I've been working for expenses only whilst getting some new clients lined up ready to rock and roll post discharge.

Just looking forward to getting my life back now.

sort_me_own_yard_out

I wish you all the best for your future

exarmydreamer

Well done and good luck.:T

mattannar

Reads like you played the system well.

geek_girl

mattannar wrote: »

Reads like you played the system well.

Used the rules and law to my advantage. Spent a year preparing for it.

Transferred directorship of company to partner six months before.

Took a salary cut so didnt build up any reserves whilst I was saving for BR. Was the salary cut that effectively made me BR. Excess funds stayed in the company - which we now have access to.

Lived of partners salary for a year.

The BR wasnt optional - a large debt was to HMRC due to a screw up by my ex - HMRC were in the process of starting bankruptcy. I just arranged it on my terms.

mattannar

Preparation and planning a major key to being able to rebuild after your year of br.
Whether I agree or disagree to how you achieved is irrelevant, but you have had a success in what you aimed to achieve , so well done.

buildorbust

So if you can live on nowt for a year and keep a busness going, will you not have to still pay in to an iva/o after your release then ?

Sorry if it sounds a bit thick but I thought you would be paying for 3 years!

arcon5

Op wasn't even placed in an IPA/O in the first place - because the unemployed or full-time student status, thus low or no income.

This does though sound like a ops fleeced the system. Sorry if you had genuine need/cause op - but you post doesn't come across as such.

minic

Congrats on your discharge geek girl!

Nothing wrong with playing the system where you can.

All the best for the future.

M

Thomas_The_Tank_Top

Just remember to tick that box (on every important financial form) that asks "Have you ever been declared bankrupt". For the rest of your life.

minic

Thomas_The_Tank_Top wrote: »

Just remember to tick that box (on every important financial form) that asks "Have you ever been declared bankrupt". For the rest of your life.

For many that's a small price to pay for their life back.

M.