How important are dates and reasons for each debt on the form?

FixitM

Hello. My debts are all well over 8 years old, and since then the companies have changed names, and an IVA company were dealing with them for 4 years, so as a result I can no longer remember exactly what most of them were for and what dates they started.
How important is this information when completing the forms please?

GazHatesBanks

It just needs to be as close as you can remember - you might be able to get the account start dates from your credit files which may help jog your memory. Noddle is free and contains most of the main lenders/credit cards.

E.g. Debt 1 account opened 20?? General reason might be personal loan for ????, expenditure on credit card for ????? (they won't need chapter and verse just any major expenses).

If you don't know who now holds the debt just state so on the form - the OR can always find out as long as the original creditor is listed.

HappyMJ

FixitM wrote: »

Hello. My debts are all well over 8 years old, and since then the companies have changed names, and an IVA company were dealing with them for 4 years, so as a result I can no longer remember exactly what most of them were for and what dates they started.
How important is this information when completing the forms please?

I wouldn't remember what my loans were taken out for either.

I know it was refinancing but refinancing what I have no idea...I can't remember what I purchased on a credit card 8 years ago that required a personal loan to refinance the 0% interest credit card when the offer expired. I think I just used that particular card in the pub....so should I put beer. If I had to put anything then general living expenses is probably the best one to choose.

It's important if the debt was taken out in the last few months (maximum about 1 year) as you could have taken out loans and stashed the money under your mattress then declared yourself bankrupt to effectively keep the money. If you've got a large personal loan from the last few months then it's likely you'll remember where the money went.

So..8 years ago. Don't worry about it.

Cobalt77

FixitM,

Going BR in itself is a stressful experience, and the OR won't expect you to know everything.

When I went BR 6 months or so ago, it was totally confusing - after all, most of the credit card debts and loans had been repeatedly sold on - and then some of these companies had merged or changed names.

All you need to do is provide the OR with a starting point, and give them as much info as you can. You may find it helpful to get a copy of your credit file, as most of the information you need is in there (I believe Noddle will give you this for free?)

Start off by listing your biggest creditors first, then move on to smaller ones.

As a sidenote, I even had a quick telephone call from the OR as she was totally confused where an old MBNA credit card debt had been sold on to!

National_Debtline

Hi FixitM


A request to your former IVA provider under the Data Protection Act may help you get a lot of the information you need in one fell swoop. Our template letter may come in useful:


https://www.nationaldebtline.org/EW/sampleletters/Pages/Personal-information-under-the-Data-Protection-Act-%28sole-name%29.aspx


As others have said, though, it's not critical if you struggle to get absolutely everything down on paper. The OR will advertise for any other creditors to come forward and make themselves known.


Good luck


Dennis
@natdebtline

FixitM

Thank you for your replies. I tried a Noddle credit report, and it doesn't list everything (hardly anything in fact) separately, and then just IVA details. IVA company couldn't help either, so best guess it's going to have to be. Could it mean they won't approve my bankruptcy if my guesses are out? Also, if they approve it, will it be at the court hearing that I am declared bankrupt (bankruptcy start date)? Thanks in advance.

Cobalt77

FixitM wrote: »

Could it mean they won't approve my bankruptcy if my guesses are out?

No. Provided you confirm to the Court you have had appropriate independent advice regarding your BR (e.g. from StepChange, National Debtline, CAB etc) then your BR will be granted. The OR knows the creditor information you put on the form is usually out of date anyway, and will probably have seen far worse. So, just do your best and it will be fine.

FixitM wrote: »

Also, if they approve it, will it be at the court hearing that I am declared bankrupt (bankruptcy start date)?

In reality, most people don't get a "Court Hearing" at all. You just take your paperwork to the Court along with the fee, and they get a judge to "rubber stamp" it. I never even saw a judge!

Then, at the exact date and time the judge stamps your request, you become bankrupt.

HTH