Bankrupt today

Mummy_george

I owed over £25,000 unfortunetly Nicholas

Maninthestreet, my day to day living etc as alastariq says will remain the same just less the humungous bills I had been paying up until January. I have reset up all essential direct debits today to my new account, so it just means learning to make sure I budget more now as I dont have the secruity blanket of credit or overdraught.

OR initially called yesterday to arrange telephone interview and has given permission for me to acsess my money for everyday living.

alastairq

Hi....open a separate account to pay bills & DD's, etc from.

WHen income hits the first account, simply transfer sufficient to meet the bills, etc, into the 2nd account.

Thus, whatever is left in the first account can be set aside for normal day-to-day living expenditure..without fear of not leaving sufficient funds to meet DD's, etc.

WHatever is left at the end of an 'income period' can be set aside somewhere else, even, for those 'sudden emergencies', or for those expenses that could not be met from within the SOA?

Mummy_george

but the only BR friendly banks are barclays and coop arent they? i dont have coop near us and assume carclays wont allow me to open another account? x

alastairq

There is no reason why Barclays would not allow you to open another basic bank account [or two]...

There is no restriction on the number of [basic] bank accounts one can have.

Either from the BAnkruptcy point of view, or from the bank's.

In fact, it is standard advice from banks and debt advisors, to have at least two accounts, for budgeting purposes.

Since Undischarged BRs are denied internet access by BArclays, it is a sound argument for them opening a second account for you.

[Co-op have a special section on their website, for those on a restricted income, about budgeting..and the above is what they advise too.]

Go into Barclays, speak to an advisor, explain what you want the 2nd account for, and open it...makes budgeting a lot simpler, with more peace of mind.

Ed-P

There shouldn't be any restrictions on a standard current account?

It's must have been difficult for you but it sounds like you're working through it! Plus you appear to have a positive state of mind, which is always good. Enjoy your Dominoes, that stuff is addictive.

Mummy_george

Been a emotional wreck these last few days and had bad anxiety attacks which I never normally get, think its all taking its toll on me now, I just really need the whole process out of the way. How long does it normally take for OR to deal with cases?

owlet

Hi Mummy George, try and relax a bit. Honestly, the worst part is filling out the forms! You are BR now and nothing will change that. The debts are gone.

The OR normally does the interview in the first few weeks then after that you may well not hear anything more from him/her unless your case is more complex or there is property/assets involved.

I only had the telephone interview then a letter about 8 monthss later to say he was looking at being released from my case.

Don't worry unnecessarily, just carry on with life :-)

luvchocolate

Hi, I do understand how you are feeling, I was just the same.
I had a face to face interview as I had properties involved, the examiner was really helpful and juggled some figures around so no I.P.A.

To be honest tho I did not relax until I was discharged, we are all different.

Try to get on with your life..everything else will drop into place.x

alastairq

As Luvchocolate, and owlet say, time to enjoy the new start?

The worst that can happen is, you win the lottery before Automatic Discharge..:)

Mummy_george

Thanks guys,

I have had the OR interview already and sent off bank statements etc. I recieved email to say the childrens caravan is part of the bankruptcy ( This was my worse fear my children losing whats theirs due to my debts ) but offering to buy back the assett, I called her to say yes what price would we be looking at? she is unsure as its now being passed to another agent o I assume this is the IP? my fear is that they are going to want us or should I say my mum to buy back the cost of the van plus the fees that have been paid! The fees were just short of £2000, if thats the case then it wouldnt be worth it as the caravan is only worth £760 trade price and that was a good price the other one was £275!!! so even if my mum is able to buy it back i have a feeling they will take the fees into account of the price? or am I wrong.
Sorry for rambling!!
ontop of all this its half term with 2 adhd children and a hubby who is not handling the situation too well either. just feel like im trying to keep my head above water for everyone and not sure how much more i can take xx