Creditors Petition Bankruptcy - What Next?

Sizzers

I have recently been made bankrupt (personal) by a single creditors petition.

Although I knew this would be approved it was over 2 weeks before I received confirmation of this from the county court and I have heard no more 2 weeks later after receiving this.

The CAB have just contacted the petitioner for clarification on a simple matter and the petitioner also advised them there was a backlog with the OR and did not know when I would be contacted.

The bankruptcy notice has now been published in The Gazette, the last line reading:

"K Read 3rd Floor, Cannon House, 18 The Priory Queensway, Birmingham, B4 6FD, telephone: 0300 678 0016

Capacity of office holder(s): Trustee"

So I guess this mean a trustee has been appointed? I am pretty confused though about what happens next.

When I finally receive all the initial paperwork, forms etc, the SOA and the then investigation, will this be conducted by the OR or a trustee? I have no idea.

I have literally zero assets (including property), although until I have completed  the forms they will have no idea of this. Do I just carry on with life as "normal"? I have no idea and I'm pretty worried and stressed by this, although this will be irrelevant should I get the paperwork in the next day or so.

If of relevance I am in full time employment on the minimum wage and I've also just started receiving Universal Credit as well.

Please help if you can. All of my woes have primarily been caused by my alcohol dependency. I expect no sympathy but please do not judge me on this.

Thanks for your time everyone.

fatbelly

If bankruptcy works for you then someone has just saved you the £680 fee.

You will receive the forms to complete - until then just carry on as normal.

If they decide you have to make a contribution from income that will run for 36 months.

RAS

Hi, the usual issue is that all bank accounts are stopped. Even if you have nothing much in them, if they allow you an overdraft, they will probably still be stopped by the bank. The other problem is if you have any debts with the bank (or group of banks) into which your salary etc is paid.

So make sure your salary and UC are paid into a basic bank account with one with which you have no debts. There is no credit check, but they will want ID unless they find you on the electoral roll and a bill showing your home address. You will get a cash card and need to move over your DDs. 

You might also want to take the time before you are contacted to put together your Statement of Account, essentially your budget. You are allowed to live reasonably, in fact if you're on UC, the chances are your budget allowances would exceed your income. Look at some of the budgets put up here by other people for comment recently and remember to add 10% plus extra for electricity and gas if you have them.

So basics, rent, CT, utilities, food and household good, travel to work. Plus phone and internet, clothing, contents insurance, haircuts, £20 each for holidays and leisure, health care (you may need a dentist, save for it). If you are already tied into a contract, use that price. If the OR thinks that's a bit high, you may have to fund a bit out of another pot.

Minkym00

A trustee is always appointed on the making of the order. 99.9% of times this is the local Official Receiver. This is what has happened here as Kevin Read is the Birmingham OR.

If the bankruptcy has only just been Gazetted then it's only just been received by the Birmingham office. If the petitioning creditor has provide them with your phone or email address then you'll get contacted that way. Otherwise you'll receive a letter inviting you to interview.

If you want to be proactive you can email birmingham.or@insolvency.gov.uk, to save you worrying and to get your bank account released.

Sizzers

Thank you all for your replies, I really do appreciate them honestly.

I have a lot of issues, amongst them alcoholic dependency, the early stages of heart failure, CAT scan on my lungs next week, living circumstances, amongst a number of others.

Not a sob story, sympathy seeking whine, just how it is.

I work. I'd rather not but the alternative is even worse.

Anyway, keep well all and take care.

Sizzers

Thank you all for your replies, I really do appreciate them honestly.

I have a lot of issues, amongst them alcoholic dependency, the early stages of heart failure, CAT scan on my lungs next week, living circumstances, amongst a number of others.

Not a sob story, sympathy seeking whine, just how it is.

I work. I'd rather not but the alternative is even worse.

Anyway, keep well all and take care.