telephone interview vs face to face interview with or

xxemmaxx_2

Hi everyone,

To cut an extremely long story short I was declared bankrupt earlier this month, and recieved a letter to meet with the OR tomorrow morning. I am extremely worried even though i have a genuine reason as to what happened and nothing to hide, its more the thought of it all.

Anyway while browsing what happens in a OR interview i have found most people were offered telephone interviews as opposed to face to face... is there a reason for this, its made me even more worried that i am requested solely face to face.

Thanks for your replies in advance, unfortunately i feel i will have loads of questions to ask today as its all so daunting.

Hopeful1968

If it is a creditors petition the interview is usually face to face as opposed to a debtors petition when normally a telephone interview. If you had been trading or had a business prior to the Bankruptcy Order again, this could be a reason for a face to face interview.

Did you get a questionnaire (B20.01) to complete. If so, complete it as best you can, the more detail, the less information will be needed at the interview. Remember, the person interviewing you is human and needs to get all information to enable them to put together the Report to Creditors and find out reasons for the bankruptcy.

xxemmaxx_2

thanks so much for your reply, yes it was a creditors petition so this makes perfect sense, I have recieved one and have filled it out in as much detail as i can as my situation was very complex but im sure I Will be asked to go through it all again in great detail face to face also as there is alot involved. However i have no unsecured debt so hopefully it might be straightforward enough with just one area to concentrate on..

I am so worried as my situation has literally just changed this year when getting married and moving in with my husband. i didnt have his contribution before the bankruptcy happened now it will show there is a surplus when indeed there actually isnt but it doesnt look that way.. ( eg we live in his parents outhouse to try and save money up to buy furniture and deposit to rent somewhere with our two kids, so we have no rent expenditure on the form so it makes our surplus bigger which means we will never be able to afford to move out until 3 years from now)

i am worried about the following... our parents paid for our wedding last year but loaned us money between them so we could go on honeymoon.. all in all it was about 3k so at the weekend before my bankruptcy was made i had sent a payment via paypal to purchase for half to one parents and lifted the other half on the morning of bankruptcy to give back to the other parents so i had all that cleared and off my shoulders, then obv got the letter stating i was now bankrupt and what i shouldnt do... ( obv shouldnt of done the above! i stupidly didnt think as i just wanted to get them paid back ) i havent touch the account since, i get paid weekly in cash and that goes straight to our shopping ( i work part time) my husbands money is running everything else oil, electric contribution, car, clothese, insurance while trying to save us up money to find a place of our own.

do you think the or will understand this or will they literally just see we have surplus after my husbands contribution ( no surplus just on my own infact i would need to be getting a lend of money to keep up afloat)

Hopeful1968

The Official Receiver will look into your income to see if they think you can afford an IPA. If you disagree with this, you can ask for a breakdown of the figures. Husband should only contribute a % towards household income.

tigerfeet2006

But surely you are paying some money in rent to your in laws :-)

Flyright

The OR will persue payment of the money you repaid for the benefit of your bankruptcy estate. Make sure you tell the OR about the repayments as it will have more serious consequences if you don't disclowe it.

longtermplanner

However i have no unsecured debt so hopefully it might be straightforward enough with just one area to concentrate on

How were you made bankrupt if you had no unsecured debt?

xxemmaxx_2

Flyright wrote: »

The OR will persue payment of the money you repaid for the benefit of your bankruptcy estate. Make sure you tell the OR about the repayments as it will have more serious consequences if you don't disclowe it.

oh i was most def going to declare it when you mean persue what will happen exactly, its now in the hands of my mother in law?

xxemmaxx_2

longtermplanner wrote: »

How were you made bankrupt if you had no unsecured debt?

Its a very long story and i wont go into it fully on here but basically it is down to a secured loan, mortgage.

xxemmaxx_2

tigerfeet2006 wrote: »

But surely you are paying some money in rent to your in laws :-)

nope, as the outgoings for heat are quite high on the outhouse our outgoings seem high enough to be technically living with parents without adding on rent paid to them... theyre tryin to help us get on our feet, looks like were stuck here another while yet.

dancingfairy

I can't see why you aren't paying rent. Surely you'd have that as an expense. If, at a later date your family wanted to help out with the deposit then they could - there's no law against that
I am however concerned about the repaying of 3k. The 2 ways I'd view this are a) either you are trying to hide 3k from the or and your creditors or b) it really was a loan but rather than paying everyone fairly you decided to prioritise your family (particularly with it being so close to your bankruptcy). I can't think you didn't know about it
Be prepared for the OR to look into this closely. He/she may decide to go after your family to get the money back. IF he did do this then your family would be creditors and would get a share of any money in the pot (along with everyone else). Whether they would for 3k I don't know I'm afraid.
I hope everything works out for you but do be prepared for some difficult questions regarding the 3k.
df
edit: this page suggests that they may not take action if the amount is less than 5k due to the size of their costs : http://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part4A/Part%202/Part%202.htm