My Bankruptcy Journey/FAQ

haggis0073

i actually tried to have a look at the SFS sheet when in the CAB office, you needed a damn magnifying glass to read the figures lol

From my experiance the SFS guidelines seem to be very generous and realistic

menageamoi

Could you post the link the Debt Doctors evaluation of SFS guidelines/SOAs please? I can't track it down...

LincsPaul

Butts wrote: »

I thoroughly endorse this statement. The truth is whereas there are general guidelines each individuals Bankruptcy seems to be slightly different. Not all OR's the same seemingly.

I've had clowns on here telling me to stop paying my Council Tax to the Council or I will face hideous retribution. Fact - my OR has made no claim on my Council Tax which was up to date at the time of going belly up. Indeed they told me to carry on paying it as normal (which I have done).

Similarly I have an NT Tax Code and the OR has no interest in the extra cash I am trousering as a result - nice little earner.

The Golden Rule of Bankruptcy is to (if you can) avoid an IPA at all costs. Access to the SFS "Trigger Figures" certainly helps achieve this.

The definitive "bankruptcy experiences" appear in this thread authored by those who have actually been through the process.

The OR not interested in your NT tax code money? Why bother with the code then! How odd.

Another favourite of mine was reading on an advice site: "If you book a holiday in the lead up to bankruptcy don't expect to keep it."

So the OR controls holiday companies then? Why not go the whole hog and give the OR powers to refund absolutely everything you've ever bought, thereby negating the need for bankruptcy altogether! :rotfl:

In reality the OR has neither the time nor ability to trawl through your credit card statements and identify where the money went and whether what you paid for has been 'consumed' or not yet, especially where intermediaries are involved e.g. brokers, travel agents.

Clearly, knowing you're going BR and spending on credit is a stupid, immoral and illegal thing, but if you are innocently living normally but one day have to go BR, then unless you've been buying houses or cars or other valuables, everything is yours to keep. And top tip: go to Gumtree or your local car-boot and cash in as many of your lowish-value unimportant possessions as you can shortly after going BR! It's surprising how much you can raise.

debt_doctor

haggis0073 wrote: »

Interview
My expenses were slighlty more than my income, they asked how I am managing with a negative surplus and I simply explained I was trying to reduce my housekeeping to help level the income/outgoing.

Excellent answer! Never be afraid of an 'explainable' negative financial statement for an IPA.
Another reason could be that family are helping out.
It gives you an extra surplus income cushion.
DD

sourcrates

haggis0073 wrote: »

The majority of forum members on this forum are very helpful and knowledeable, and the very few that seem to want to put people down need to just be ignored as they have probably never been in this situtation and so do not understand the stress, embarrasment, worry etc that we are all going through. I myself got bad anxiety during this process, but there is light at the end of the tunnel, even though it may not seem like it during the bankruptcy process.

Hi,

Thank you for coming back to update us.

In this “anonymous virtual world” most people try to help out as best they can, we do have an excellent knowledge base on here, some people also do this for a living, or, like me, have personal experience of debt and it’s consequences.

I like the opening sentence to your post, it’s a good ethos to have :

“if I can help just one person, I’ll be happy”.

It’s also the reason I devote a lot of my time to these forums, having received similar help from them in the distant past, and sharing the knowledge I have accumulated, seemed like a good way to say thank you back.

So thanks for coming back to update us, it is really appreciated.

haggis0073

debt_doctor wrote: »

Excellent answer! Never be afraid of an 'explainable' negative financial statement for an IPA.
Another reason could be that family are helping out.
It gives you an extra surplus income cushion.
DD

I had good advice

haggis0073

sourcrates wrote: »

Hi,

Thank you for coming back to update us.

In this “anonymous virtual world” most people try to help out as best they can, we do have an excellent knowledge base on here, some people also do this for a living, or, like me, have personal experience of debt and it’s consequences.

I like the opening sentence to your post, it’s a good ethos to have :

“if I can help just one person, I’ll be happy”.

It’s also the reason I devote a lot of my time to these forums, having received similar help from them in the distant past, and sharing the knowledge I have accumulated, seemed like a good way to say thank you back.

So thanks for coming back to update us, it is really appreciated.

Well written, thats not a problem and will continue to stay active on the forum and help where i can, i have been meaning to post up my accepted SOA, just need to convert back to stoozing format as the bankruptcy forms are different to that of stoozing, will do after xmas now