What is the OR going to do?

wursel

OK,

I'm 90% sure im going to be going bankrupt after your Stirling advice and support previously (thanks). I made the step to call the courts and request the forms. I have finally talked to the family to explain and basically not take it all on my own, but I have a few more questions process wise.

From people's accounts like lou (well done ) the initial BR day appears fairly painless, bar nerves and all.

But what happens with this mystical OR, what do they do, how far do they dig, whats the crack basically here.

I havent got anything dodgy to hide, but depending on what they do (examining bank records etc), in 2005 I had a £4k win which I payed of some debt and treated myself. Would this be classed as money I should of put towards debt in hindsight of it all going to pot in 2007? The might see the odd £10 every 3 months to ladbrokes to have the occasional flutter or they odd withdrawal of cash to which I have been slowly paying back friends and family (no proof or contract). Basically I dont want it to look like I have been frittering money.

if the judge ok's the BR, can the OR reverse it and if so will I still pay the fee's?

All seems nice but this second OR interview gives me the heebie jeebies.

(I can look at getting an appointment probaby 3rd or 4th week of Jan)

maxmycardagain

they cant actually put you in the stocks nowdays (that stopped last year), and your paying them to make you bankrupt, if they dont like it tough.....

nomoneyprobs

Hi, the or is the official receiver, they are working for you to deal with the creditors. They have no power to overturn the BR order, The or will just ask questions in regard to when you got the credit, what you got it for ( they don't dig to hard here ) and what made you decide that you are insolvent.

My interview was very painless and I haven't heared from them since, It's not really a huge deal, It is just paperwork really.

Ian

wursel

so effectively we are going over what a tard I am for getting into debt and that i will have enough to survive on?

nomoneyprobs

wursel wrote: »

so effectively we are going over what a tard I am for getting into debt and that i will have enough to survive on?

If you think of yourself as a tard:rotfl: then yep thats exactly what you'll be doing.

The or isn't there to judge you, by reaching the decision to declare BR you've already done that yourself.

They are just there to help deal with creditors and make sure you have enough money to live on and then and only then will the or look to take some of your income from you to pay a proportion of your debt back.

Ian

nomoneyprobs

Just 1 thing though, you've put you owe friends and family money, don't forget that this money needs to be declared to the or at the time of Br, you can't contiue paying them after the Br, It would be seen as favouratism to creditors.

Ian

wursel

nomoneyprobs wrote: »

Just 1 thing though, you've put you owe friends and family money, don't forget that this money needs to be declared to the or at the time of Br, you can't contiue paying them after the Br, It would be seen as favouratism to creditors.

Ian

Aye thats fine and perfectivly understandable, it was just incase they challenged any withdrawals.

I do consider myself and tard as I havent been able to do anything or focus on more than 1 thing at a time for months. Kinda living in denile instead or rafting down it in a canoe.

Ta for your advice, the OR seems sound enough and im 98% now :T

ash_bash_girl

Hello just thought i would say hello and offer my support.

I went BR 7/11/07 and had a telpphone interview with the OR, it was painless but nerve racking and it still is to be fair. Everytime a letter comes i think OMG what now but it is nothing to panic over so far.

Life less stressfull.

Good luck

Princess9

Hi - i dont know how to start a new thread, anyway, I went bankrupt on the 11th Feb, it looks liek it will be useful to pos my whole story as it looks liek it cold help others and I have found bits of teh information useful (you tend to do lots of research for these things) anyway, I had to chase my OR twice and finally have my date with him next friday 29th (leap year funily enough). But all of teh postings that i have seen have been telephone interviews, but I have been called to see my OR face to face and I just wondered how they make that decision on how they interview people - has anyone else had a F2F inetrview. I do have a car on Hp and a housing association property that I owen a 25% shar n, but the house prices in the area have gone own and there is no equity in teh proprty - is his why does anyone think. I am so so scared, just had all the forms through, they want me to sign income tax forms and want all my banck statements for a year, so now I am worried that they will question any money that I have spent in that period, so I am panaking about what I have spent and where. My debt is £53k. I will post teh whole story but just hope there are some people out ther who have have a f2f and can advise me. all v v scary. thanks

tigerfeet2006

Will start a new thread for you Princess.

Usally what you do is press the New Thread button that is on the front page of this board above the top left hand side of the thread titles.

maxmycardagain

whats a tard?

do i qualify?

is there any grant for it?