Bankruptcy Period

Polo_Pony

Can I ask people what actually happens after they go to court and are appointed an OR .. what happens for that 12 months you are bankrupt? Do you have to give the OR a weekly update of what you have spent? Its all very new to me and I have no idea what to expect ????
Thank you x

TheGardener

First off - spend some time reading the stickies at the top of the board - they will answer all your questions and some you never thought of here http://forums.moneysavingexpert.com/showthread.html?t=1056083

In fact you are unlikely to hear much at all from the OR after your interview with them which is usually done over the phone. A few letters from them. You don't even get a letter or call on your discharge date... Almost all the work and impact is in the weeks before and the 2 weeks after the BR.

egrescrimp

When you petition for bankruptcy, you have a very informal appearance at your county court. You may not even see a judge.

After attending court you'll get a call from the OR later that day or first thing the following day, it will be a quick 10 minute chat to go over some basics and to confirm if a second call is required. If the second call is required, it's normally within a week of the first call.

You then go through your forms with them and then discuss your SOA, once the SOA is agreed they will then say whether an IPA is required or not.

The SOA you agree is what you have to live on, whether you spend the allowance you are allowed on the items on the SOA is pretty much up to you. You don't have to supply them with your weekly shopping receipts or anything like that, whats agreed is yours to live on. Whats deemed surplus, you'd pay into an IPA.

You'll find you have very little contact with the OR if your case is very simple