The "what do you need to know before you go bankrupt?" thread!

Red1708

It really depends on what court you are attending, try asking the court when you make the call to make your appointment. Some are the same day others are weeks later

kerryboo

when i went to court i was advised that the OR would be in contact with me regarding a interview. one week after i went bankrupt i received a letter advising me that i would have a telephone interview the following week giving me a time and date i also had to send information back to the OR before the meeting, hope this helps you Clare

owetoomuch

Claire I had one weeks notice of my telephone interview and they will ring you on the number you gave on your form, they will confirm which number they are ringing you on in the letter and give you the option to change numbers before the date, so if your work number is down for them to contact you on and you want to take the call at home you just ring them up and change it.

ClaireLR

I have a quick question

I'm just searching through my paperwork, I understand the OR will require bank statements/credit card statements/loan agreements etc, is there anything else that they will need, i.e proof of rent/council tax (although all my bills are paid by direct debit so will show on there). How about payslips and P60's?

Ooooooh it's nice to be having a clear out, just wish the reasons for it were different!

PixiePie

ClaireLR wrote: »

Hope someone can help me with this:

Ive come to the bit on the forms where you list your creditors and its asking the reason for the debt

Got 2 major debts so Ive put debt consolidation which they were.

Got my vet fees so Ive put vets fees

got laser eye surgery fees so Ive put that

now there a few I'm stuck on what to put as my reason other than reckless spending including 3 overdrafts totalling £1400, and a credit card for £3000. Anyone know what I can put? One overdraft last year I can put as home improvements, theres one for £250 and one for £150 that Im really stcuk what to put? Then the credit card, I mean I cant explain it.........

Also, the 2 major debts I have just written debt consolidation, but they came from much smaller debts which were consolidated, then again and again and again, until I ended up with the big ones. Is this going to be questioned because in all honesty Ive had that many loans I cant remember what each one was for.

HELP!

Hi Claire, sorry to be nosey, but I'm in the same situation, no idea what I got the money for originally or what it went on. What did you put in the end? Would be v v helpful -many thanks if you can help

ClaireLR

OMG Spooky I have just posted on your thread about this very same subject!!!

owetoomuch

I had consolidation loans as well, couldn't remember what the earlier ones for, explained this to the OR during interview, I told him that when I went for the loan the lady at the bank suggested I put XXXX down as purpose for loan and that the money didn't have to be spent on it, just that she needed to put something down on the loan for me. Give as much information as you can remember but you will be able to expand on this during the OR interview and they will prompt you with the right questions to help you to remember.

ClaireLR

And the answer is, I haven't yet completed that part of the form and still don't really know what to put, I suppose living beyond means is probably the best explanation, there was (as far as I can remember) no huge purchases using the credit card.

I'm just going through my paperwork and am hoping to find something that can explain part of it, what I have also decided to do is write a letter (as advised on another thread) to the OR to put with my forms basically to explain as much as possible in the (small) hope that the OR won't question things to much.

PixiePie

OK, thanks guys - god I feel so so stupid writing this all down - just been through a bank statement from Sept last year for eg (when homeless) - and theres really not that much on it - a little bit on a few mags (I know, a luxury I shouldn't have spent, but not anything more than about £25 and that includes stamps as well I would have thought), my debt repayments for cards, loans etc and then food and cigarettes (have now given up, best £9 I spent on giving up book by Allan Carr). Am actually appalled at myself - its not even as if I have anything to show for it - no clothes, no jewellery, no thing. Mug that I am.

fermi

ClaireLR wrote: »

What I need to know is, is this favouring a creditor??? I wanted to pay the vets bill off for when I needed to take my cats back there. But now I'm worried that OR is going to see this as favouring a creditor and slap a BRO on me.

I'm worried.

Don't be worried.:)

The rules regarding not favouring a creditor should not effect you in this case.

Firstly, the amount is way too small to worry about, and it was done out of genuine need and not a cynical attempt to disadvantage any other parties.

The purpose of the 'not paying a creditor preferentially' rule is to stop gross abuse of the system. For example, someone owing a family member or business partner money which they pay off preferentially before going BR disadvantaging normal creditors.

In your case you will be fine.:D

If the OR's office even mentions it, it would be a quick 'tut tut' and nothing more.