What do yu wish you knew before you went BR?

2003wastheyear

NekoZombie wrote: »

I amazed that people aren't informed of this *before* bankruptcy. It used to be that if you were a practicing solicitor, a policeman, magistrate, MP (i.e. certain positions of public office) you couldn't keep your job and go bankrupt. Some of these e.g. the police have become more relaxed over their attitudes to bankruptcy, and you can now be an MP too. However, certain positions, including working with finance/banking, can mean you will not be considered for the role if the find out were/ are bankrupt. But to be frank, I can understand why.

Don't be amazed. I was talking about not getting a poxy PA job, just because it is connected to finance in any way. The irony is that the Financial Services Authority do NOT automatically bar you from being a licensed Financial Advisor (although I have to admit this wont appeal to most of us here!!!;) )
The irony for me was that my debt nightmare started at uni so I was young when I went BR. It seems unfair that my whole life will be blighted because of that. It's not as though I want to manage a bank! Just because you mess your own money up shouldn't mean you cant be trusted to do a simple job. Lots of people see BR as a fresh start. Now so many major corporations do a credit check on you before they offer you a job, its like the world doesn't want you to move on and pay tax!

(When I said about clearing off old debts from credit file I meant sorting out the mistakes. I.e. old debts should be marked down as default on day of BRO and settled/satisfied on discharge. Lots of mine show me as still defaulting in 2007 when I was discharged in 2005!)

2003wastheyear

I was lucky in that I didn't have to see the Distrcit Judge at all! I was shaking in the waitign room, then the clerk came out and said "no need to go in he's signed it for you already!" BONUS!

SeaBreeze

I was also pleasantly surprised not to be in the local paper! I shook like crazy each week as I searched for my name. It's been 5 months now and I've filled in the forms for early discharge so hopefully I won't appear.
I was surprised that on the day of Bankruptcy that we were done in a 'job lot' at Brighton. Seven of us arrived at the same time, waited in reception,with only 2 chairs, while we went in to see the clerk one by one. Then upstairs to a waiting room. When we had all been booked in an usher took all our forms into the judge, came out 5 mins later and asked us to go back downstairs to reception where we were given our papers. So only took a couple of hours, most of it standing around and didn't have to see a judge.

Remmer

I wish I'd known how quickly I'd be discharged. Under 6 months for me. It would have made the decision to go BR easier and I'd have done it a lot sooner. I opted for a court not strictly within my area and although there was a heart stopping moment when they queried that, they did it anyway so I wasn't in my local paper, although I was in the paper where I was made BR. I applied for a Nat West account online and was refused becoz credit files aren't up to date yet but they are now hassling me to take proof of discharge into a local branch so they can continue with the process lol! Nice kind of hassle for a change!

Funniest thing that happened was that I now work for Royal Mail and the other week I collected from the court where I petitioned. Parking in the court car park, hoping I don't bump a judge's car (Some of our vans are quite large) and who should I see but the judge who did it for me. Blow me he remembered me and said he was glad my life was back on track. That was a good feeling!

allofadither

Remner...fancy coming face to face with your judge, what a coincidence. I would have run a mile. Just recently I had a look at the insolvency register for my local court and put in a random search on a common surname (don't ask me why)... well it came up with my old next door neighbour, only recently moved. How weird is that then...the things you don't know about folks.

NekoZombie

2003wastheyear wrote: »

Don't be amazed. I was talking about not getting a poxy PA job, just because it is connected to finance in any way. The irony is that the Financial Services Authority do NOT automatically bar you from being a licensed Financial Advisor (although I have to admit this wont appeal to most of us here!!!;) )
The irony for me was that my debt nightmare started at uni so I was young when I went BR. It seems unfair that my whole life will be blighted because of that. It's not as though I want to manage a bank! Just because you mess your own money up shouldn't mean you cant be trusted to do a simple job. Lots of people see BR as a fresh start. Now so many major corporations do a credit check on you before they offer you a job, its like the world doesn't want you to move on and pay tax!

(When I said about clearing off old debts from credit file I meant sorting out the mistakes. I.e. old debts should be marked down as default on day of BRO and settled/satisfied on discharge. Lots of mine show me as still defaulting in 2007 when I was discharged in 2005!)

My debts are mostly from uni too, so I do completely understand your frustration. I've instinctively avoided big corporations in the city, as they're the ones who do all the checking. I agree, people should be given a chance to move on - was this company in the financial sector at all? They do tend to be the worst.

How have you found life post discharge? Managed to get a credit card yet, or are you not even looking for one? I've decided the only money I ever want to borrow in the future is what I need for a mortgage. Credit and I fell out a long time ago, and I don't think we're going to be friends again. :rolleyes:

AlanD_3

philnicandamy wrote: »

have a look here AOAD.....

http://www.joincreditexpert.com/information/HowCanIMakeChangesToMyCreditReport/default.asp?sc=410014&bcd=guardcredccredbasic1

Went through all the trouble of filling in their forms and got to the end and they said the system was down. Tried to log in and then they said the account was locked out!!!!!!!!!!!!!

Credit report so poor it breaks the credit agencies server...

AlanD_3

Remmer wrote: »

I
Funniest thing that happened was that I now work for Royal Mail and the other week I collected from the court where I petitioned. Parking in the court car park, hoping I don't bump a judge's car (Some of our vans are quite large) and who should I see but the judge who did it for me. Blow me he remembered me and said he was glad my life was back on track. That was a good feeling!

That is actually quite sweet really!

bizzylizzy

I wish I had known that the OR would take our life insurance over. If either of us died while undischarged then OR would have got the payout. We were given 2 options -
1. Let the policy lapse and take out a new one after discharge.

2. Buy it back at a the price of a years premiums (each).

As we didn't want to be without cover and also because our premiums would go up if we got a new one (due to health problems since taking out original policy) we scrimped to buy it back.
I had no idea about this before the OR interview and although our decision would have be the same I wish I had known about it.

I also wasn't prepared for the stress in the lead up to BR and on the day, or for the gradual relief afterwards. But I don't regret it for one second, and wish I had done it a year before when I was first advised to.

allofadither

Same for me too bizzylizzy...trying to get some dosh together to buy my insurance policy back...my 14 day deadline is almost at an end.