Hello! Considering Bankruptcy!

allofadither

DD,

It might be easier if you have a look at the BCSC website http://bankruptcysupportersclub.co.uk/default.aspx

Hopefully that will help to clarify what happens, but do please ask any other questions. And don't panic, lots of virtual hands for you to hold here.

diva_darling!

ahh thanks that makes it a bit clearer! At least I have a better idea of what will happen.

Scary thought though!

allofadither

diva_darling! wrote: »

ahh thanks that makes it a bit clearer! At least I have a better idea of what will happen.

Scary thought though!

That's the thing DD, the thought is often more scary than the deed. But seriously, being BR does have long term implications, especially regarding buying a house which you mentioned on your first post. Your credit history will be screwed for 6 years and you may end up paying higher interest rates on a mortgage.

diva_darling!

My credit rating is likely to be screwed for a lot longer than that if I dont do as I'll be making below miniumum payments for about 20 years!

The mortgage thing does bother me but its a long way off and hopefully by the time I'm in the position to buy somewhere my credit rating will be improved and the bankrupcy will be far behind me and if I get a higher interest rate so be it.

ClaireLR

Hi DD

SOA is statement of affairs, basically all of you incomings and outgoings. You ll need to do one anyway for the BR forms.

If you want more info have a look at wherediditallgo's BR diary (do a search). It's really helpful and informative I found, also keep asking questions and looking through the posts on here, thats basically what I did (I didnt have a clue before I found this website, oh how did I live without MSE??!!) and now I'm a lot more clued up than I was.

the forms you need to fill in are on https://www.insolvency.gov.uk they look pretty complicated to me, Ive been just filling in a bit a day so it doesnt overwhelm me.

Re the thing about you not telling your mom, you may not know this but your name will appear in your local paper for all to read that you have gone bankrupt, so you may be best off telling her now anyway, best to hear from you than someone else. x

diva_darling!

ClaireLR wrote: »

Hi DD

SOA is statement of affairs, basically all of you incomings and outgoings. You ll need to do one anyway for the BR forms.

If you want more info have a look at wherediditallgo's BR diary (do a search). It's really helpful and informative I found, also keep asking questions and looking through the posts on here, thats basically what I did (I didnt have a clue before I found this website, oh how did I live without MSE??!!) and now I'm a lot more clued up than I was.

the forms you need to fill in are on https://www.insolvency.gov.uk they look pretty complicated to me, Ive been just filling in a bit a day so it doesnt overwhelm me.

Re the thing about you not telling your mom, you may not know this but your name will appear in your local paper for all to read that you have gone bankrupt, so you may be best off telling her now anyway, best to hear from you than someone else. x

I've started reading that now and it's really helpful!

I'll look at my outgoing vs incomings tonight and post it tomorrow, I suppose to be working at the moment!

My mum lives 500 miles away so she's not likely to see the notice!! Although my gran might, I just can't bare the dissapointment in me that I know would come.

I've printed off the forms I'm going to have a proper look at them when I get home and slowly start to fill them in. Now I've decided to do it I want to get it done as soon as possible get on road to fresh start.

ClaireLR

Me too!!

My BR date is 6 July. You might be best calling the court now to book a date as some work weeks ahead, I could have had a date in 2 weeks but wnated a little longer to find a few more things out and sort out bills, cash etc.

I thought my dad would be disappointed too but he wasn't, he just said whatever you ned to do, do it, lent me the cash and hasn't said nothing about it since! I'm sure he is a little disappointed cos hes the type whose always lead a debt free life, his motto is if you cant pay for it dont have it (im adopting it from now on!) so Im sure he was a bit let down. Thing is its your life and your doing something about it now!

Are you scared?? I am!

diva_darling!

I've called the court this afternoon and there currently booking for the 5th of June but I can have a date next week if I want!! eek!! That's very soon! and my meeting with my OR would be right after it!!

Part of me wants to do it next week because now I've decided I want to get it done and the ball rolling also that'll be before I start my new job on the 4th once I'm there it'll be very difficult to get time off durning working hours. However part of me's worried I'll regret it however I could put it off forever with different doubts!

I'll post a SOA tomorrow and get some feedback from people then make a decision!

And scared nah I'm absolutely petrified(sp?)!!

We should become BR buddies! Same age same time doing it (ish!)

ClaireLR

Hi BR buddy (lol)!

Ooooh next week that is very soon, I could have had a date sooner if I wanted but I needed to get things sorted first like the cash to go BR for starters! And wanted to get a few things clear in my head so I could be as calm as I could be about it all (haha).

But in saying that sometimes the sooner the better isnt it!

Have you done your SOA yet or found the money to go BR??

Claire x

diva_darling!

Hi BR buddie!!

I've got the money yes, and started on the SOA, I'll post that in a bit - need to do some work first! lol!

I think I am going to put it off until about the same time as you, want to give myself the time to get the documents together make sure the forms are all completed properly - they are so complicated and its made worse by the fact I'm in the process of moving jobs so I'm not really sure which job to do the details for!!