What happens after bankruptcy.?

Simontheframer

Hi, I'm a newbie here and would appreciate some advice about bankruptcy.
I was made bankrupt by HMRC yesterday I assume (I didn't go to the court hearing and am 'happy' for the bankruptcy to go through). Will I receive a letter to confirm my bankruptcy or will I now wait for the official receiver to call me and how long will that be?. Will I then have to go down to London for the interview?. This whole process does seem to take a long time but I will be glad when it's done and to make a fresh start. I am expecting a BRO as i have neglected my tax returns and payments . Can anyone point me to advice on what figures are allowed for expenditures when the time comes to fill the form in?.
Apologies for so many questions, there will be more!
Thanks, Simon

sourcrates

Hi,


Can`t help with the expenditure list, however i would say add 10%/20% to what you actually pay out so you have manouver room.


Its a much more streamlined process now, everything is done online and over the phone these days, so no need to appear in court, or anywere else, if the OR wants to speak to you, they will ring you in there own good time.

Momofthree_2

Figures depend on circumstances. How many adults, children, pets. Do you rent? Have you got a car? Id advise doing a SOA from on this site and asking for people to look over it. Remember though that bankruptcy isnt about saving money in day to day living, its about living properly. so nobody expects you to live on beans on toast for a month. Acceptable shopping costs for example are much higher than what I actually spend so i pushed my figure up to allow for less elsewhere. Dont go too low

debt_doctor

Hi,

Have a look here so we can comment on your expenses with a view to adjusting them based upon our experiences...

http://www.stoozing.com/calculator/soa.php

DD

Minkym00

HMRC will have applied for your bankruptcy in your local court. You said you didn’t attend but knew it was happening right? So you’ll know the court where the order was made. If not just check the Insolvency Register that will show local OR’s office that is dealing with your case. They will attempt to make contact with you, and that is likely to be by letter as they wont have been given your phone number. Your bank accounts will be frozen so if you want to get access to them quickly then contact the OR yourself.

You’ll be sent a booklet to fill in and will have to attend an interview. It won’t be done over the phone as you were made bankrupt by a petitioning creditor. And as it was due to neglect of tax affairs they will want a face-to-face and take receipt of your books and records.

Minkym00

Sourcrates, interviews for adjudicator bankruptcies are (mostly) done over the phone. Interviews for petitioner bankruptcies are rarely done over the phone.

ramtops

HMRC made my husband bankrupt in a court in London, a long way from where we live. He didn't hear from the OR for weeks. She also interviewed him in person.

Minkym00

ramtops wrote: »

HMRC made my husband bankrupt in a court in London, a long way from where we live. He didn't hear from the OR for weeks. She also interviewed him in person.

That *shouldn’t* happen. They should make contact as soon as possible.

ramtops

Nevertheless, that's what happened.