Article in Observer about bankruptcy

Nevermore

http://money.guardian.co.uk/creditanddebt/story/0,,2094252,00.html

fermi

That article contains some first class rubbish.

Bankruptcy has been one of the most horrible experiences of my life. I've had four long interviews with the insolvency agency over the telephone, with officers who have shouted at me so much that I've had to ask them to call back so I can stop crying. It doesn't matter how often I admit it was all my own fault and tell them I want to pay it all back, they just go on shouting.

I have never heard of an OR doing this.

They can sometimes be strict, but this behaviour is unheard of on any of the forums/advice I have seen and read.

I went bankrupt almost two months ago, but my creditors have not been told, which means they're still calling me. I've been taken to court by one of them, and now have a county court judgment against me. The Official Receiver said I wasn't allowed to attend court and defend myself, but he didn't stop proceedings from going ahead. County court judgments stay on your credit ratings for ever, which is exactly the sort of thing I went bankrupt to avoid.

Again, this is completely contrary to the law.

This should never happen, and would never stand up in court. They need to challenge it.


Anyone reading this article who is considering bankruptcy, I would advise you to read something by a journalist who is better informed, and does not have an axe to grind.

EDIT: Sorry for the rant. There are some opinions in the article that are positive as well. I just don't want the highly atypical ones that have been deliberately picked out to panic anyone, as they are in no means representative of the vast majority of experiences.

rufus79

I started reading that but then stopped. To me, it seems a rather pig-headed look at it, and I was already feeling panicky after a couple of paragraphs.

Nevermore

fermi wrote: »

That article contains some first class rubbish.

Yes, I think the same but still thought it would be interesting for others to read.

The interviews with those people seem too exaggerated and not very realistic!

fermi

blind-as-a-bat wrote: »

Although the comments on IVA,s are pretty spot on in my view

Yes. The main article isn't so bad. But the personal stories have been picked for a definite effect, and not a good one.

NekoZombie

I agree, the personal stories would more than put me off if I was considering BR, and nothing like what I've experienced, which was a weight off my shoulders. A lot of those people sound very poorly informed.

NekoZombie

It definitely isn't representative, anyway

tigerfeet2006

It's a shame there is no place to comment on the news story. We could have plugged here so people could get a better idea about BR