Newly bankrupt, what next?



  • S00190
    S00190 Posts: 14 Forumite
    First Post
    My call with the OR is at 1PM and I’m a bag of nerves already 😒
  • fatbelly
    fatbelly Posts: 20,470 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    We're with you in spirit. You'll be fine.

  • S00190
    S00190 Posts: 14 Forumite
    First Post
    15 minutes late in calling me so far so really not a good start 😞
  • S00190
    S00190 Posts: 14 Forumite
    First Post
    The interview wasn’t too bad although she was 30 minutes late due to phone and computer issues. The how I got into debt was the worst bit as there were parts I didn’t really want to relive but didn’t really have a choice but hopefully won’t have to relive all that again after explaining it all and going into a bit more depth as I was asked, it seems there was financial abuse from my ex and I just had never thought of it like that, luckily he’s out of my life for good.

     I explained as best as I could the dates and what each debt was for but there are quite a few I have no idea who the original creditor was or even what I bought etc as I did mention my poor memory she was fine with this as at least 15 of them were all Lowell and small amounts (I have 52 creditors in total).

     They have no interest in my mobile and even took it off my list of creditors as apparently like broadband it’s seen as a utility. I even thought at the IPA call the other day they would question the monthly amount as it’s £86 split between device plan and airtime plan. 

    I just need to read and sign what she’s typed up and hope for the best that there is no BRO as I was still using credit up until last month (Zilch pay in 4) just before I submitted the bankruptcy so I never finished paying them what I owed. So I think that would be the reason for a BRO should I get one.

    I’ve been told I more than likely won’t hear anything back until the 9th January but i’m going to try not to worry about that as I’ve now done all I can and just 50 weeks to go now until I’m discharged so hopefully they will fly by.

  • Sonic101
    Sonic101 Posts: 151 Forumite
    First Anniversary First Post Name Dropper Combo Breaker
    Hi there

    I'm glad the interview went okay. I am sure the interviewer realised that you weren't genuinely trying to mislead anyone - even when you only have a handful of creditors I think it's hard to remember all the details of what you took out, when and why, etc.

    With regards to the BRO, my understanding is that you will probably only get one of these if you were seriously taking the proverbial - for example, blowing the money on luxuries with no intention of paying it back then declaring bankruptcy; if you were using credit just to get by, I imagine they'll be more lenient. 

    In the event you do get a BRO (and again, this is only my understanding - one of the knowledgable people here will probably correct me if I'm wrong), unless you were planning to become a company director or something, all it means is that you will have to abide by the bankruptcy rules (such as not obtaining more than £500 worth of credit without informing the lender you're bankrupt) for a bit longer after you're discharged. As your credit rating will be screwed for the next six years anyway, in reality it will probably make no material difference to your life. 

    I would say 'try not to worry', you'll be fine - which you will - but I know I'm a worrier myself so I shouldn't say it :-)
  • sourcrates
    sourcrates Posts: 28,858 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    edited 25 December 2022 at 2:06PM
    A BRO is unlikely to be applied in your case, only if the OR suspects that you have lied, or committed some kind of fraud would they ask the court to impose this on you.

    A lot of ex bankrupts have used credit to pay for the bankruptcy fee`s in the past, and not been penalised for doing so, try not to worry about it.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- The "provit letter" is here-
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