Early disharge

madoldbat

:beer: Congratulations Uther!!!:j :j :beer: :T :T

meimei_2

hiya y'all

some of you seem to have been discharged quite quickly, can i briefly ask if your bankruptcy was for alot of money or not alot, hence why you were discharged early?

are you all working now and making good money regardless of your bk and did you work before your discharge or did you just take some time out until you were discharged?

if and when i declared myself bk, i will prob be owing 750k (600k of that is the lease obligation for restaurant!) i am thinking of trying to fend off creditors until xmas and get some trade during the period where everyone is going out and spending lots of money.

i dont know if the OR will look on it as being irresponsible but i dont really have creditors chasing me yet, i just have not got money to pay the council's rent next month nor am i breaking even (close but not close enough) so i dont know what to do!

last month i told the council (my landlord) the situation, i am happy to go bk because i could not pay them the quarter's rent in advance however if possible i could pay one month's rent in advance (i used my overdraft facility) so they set up a agreement whereby i need to pay the rent monthly till december which i now cant even afford to do!

does anyone know or have any suggestions on what i can do to get the council to stop or delay my rent until i get on my feet??? i know some of you might be thinking, why dont i just declare myself bf but xmas is round the corner and it could make or break my business.

does anyone fancy helping with the restaurant in december, if you got nothing to do that is??? hehehe free food and accomodation! bham's german market is worth a visit!

wherediditallgo

I'm not sure the amount that people have gone BR for has a lot to do with it, to be honest. I think it's more to do with the OR having completed their investigations, set up any IPA necessary, seeing the payments for that IPA going through on time each month & seeing no reason for them to be still involved in the case. The more involved the case, the longer the investigations will take, & in some cases the OR may not finish until about 9 months down the line, by which time it might not be worth offering an early discharge - if there's no IPA, creditors would have to be contacted to make sure they had no objection to the ED, & by the time all that was done, the year at which automatic discharge comes into play would have probably arrived or almost so.

I'm afraid I can't offer much advice on what you can do about your council rent, as it's a business rather than your home (unfortunately, I know more about council rent on residential properties than is good for me ). I suggest you contact one of the organisations in my signature, as if they can't help you directly themselves they'll probably know of organisations that can. In addition, you could try this section on business debt on the Insolvency Helpline site. Their number is 0800 074 6918, & their advice is also free.