What actually happens?

crystaltips52

Hi everyone. I am finding this site so helpful and I still don't know whether or not I am going to go ahead with BR. What I would like to know, is what actually happens on the day? I have read about going to the court and filing etc. When you see the OR do you have to go through all the spending and talk about why you spent money or what you bought etc? Do you have to produce receipts or talk about why you got into such a state?

Do they take any money away from you that you have in your bank account or do they freeze your account and then how do you pay your bills? Maybe the site has the answers and I just haven't found them but I would appreciate some input on this.

Thanks for being there
Crystal

user55

On the day, you go along to court where your papers are checked by a clerk, and you swear an affadavit (I think it's called!) that it's all true. Then you may or may not have to see a judge, depending on ow it's done in your partciular court so far as I can tell. Some people have had a very relaxed meeting with the judge, others more formal, but at the end of the day they all just want to know you have taken professional advice (from CAB, CCCS or National Debtline is fine and free!) and that you understand it's a serious matter that will have consequences for your future. The judge isn't there to judge you, ironically.

You may have a face to face or a telephone interview with the OR and they do go through stuff with a fine tooth comb, but they are used to seeing people who's financial affairs are in chaos so don't worry that you can't produce every receipt and statement for everything....I was so stressed out that I couldn't remember how much my mortgage repayments were, and while I'm sure she must have inwardly rolled her eyes, she never said anything mean to me.

Your statement of affairs will determine whether you will end up having to make payments (an IPA). Basically if you have a surplus of £100 or more, a percentage has to be paid.

You will need a new basic bank account. Open it when you have left court is the wisest advice. Barclays and Co-Operative are pretty much the only choices you have.

Any more questions, ask away!

And make sure you speak to the CAB or CCCS, because you have to. Not doing so could lead the judge to refuse your bankruptcy.