bankruptcy help, it's all too much

Shellbelle33

hi everyone
i'll try not to waffle.

Applied for bankruptcy a couple of weeks ago and didn't realise how much there was to it.
I've had a half hour phone call and then have had to email copies of my rent agreement and reasons why i need my car etc.
I've lost track of how many forms i need to print off and sign.
Plus i have a face to face interview too soon.
My current account (santander) was frozen which was stressful because i didn't think it would happen that fast, i also had a basic account (co-op) which i thought would be left but now i'm not so sure and there has been an insolvency service payment taken from that account today which i'm confused about (is that to do with the bankruptcy?).
Am i best just opening a new basic account elsewhere so i can pay bills etc?

I know everything will be ok but i am so anxious, worried and stressed.
It's taking over my life and making so distant and snappy.
I just want myself back.

Any advice would be greatly appreciated
Thank you 

RAS

There is a one-off fee for bankruptcy, which is £680 if I recall correctly? Is that the fee you were charged?

With whom did you talk about bankruptcy before you made the decision?

luvchocolate

So sorry you are finding this stressful. 
We could have made the procedure so much easier for you..getting everything in place first. 
Who did you take advice from?
Go onto to Insolvency Service site and hopefully you will have more of an understanding 

philnicandevan

Shellbelle33 said:

hi everyone
i'll try not to waffle.

Applied for bankruptcy a couple of weeks ago and didn't realise how much there was to it. Hmm I remember the same back in 2006 when I filed for bankrupcy...it WILL settle down once the receivers done everything that should then be the last you hear...if anything in a bit it'll go very quiet uness the receiver needed anything else..
I've had a half hour phone call and then have had to email copies of my rent agreement and reasons why i need my car etc.
I've lost track of how many forms i need to print off and sign.Hmm ton of paperwork but that should be it you wont be expected to do anything else as I said above unless the receiver wantes to question something etc
Plus i have a face to face interview too soon... I had the same back in 2006...preferred the receiver in person rather than a call..felt rushed and stressed where as in person they took time and I felt better I could explain stuff...at the end of the day receivers offices are there to help you...
My current account (santander) was frozen which was stressful because i didn't think it would happen that fast, Hmm sadly it can...its the banks that freeze NOT the receivers...santander are a pain one of the most bankrupt unfriendly around.. i also had a basic account (co-op) which i thought would be left but now i'm not so sureThe Co Op account should be fine..have you spoken to them or attempted to use the co op account?? and there has been an insolvency service payment taken from that account today which i'm confused about (is that to do with the bankruptcy?). as RAS above said is this the filing for bankrputy fees OR has the receiver mentioned something called an IPA/IPO? this is worked out where any excess money (£20 a month free and above) left after living bills fees etc have been
Am i best just opening a new basic account elsewhere so i can pay bills etc? Thats up to you really although may be a struggle as there are not many places where you can open a basic account or are bankrupt friendly (meaning you could find a bank BUT unless they are not stressed about you being bankrupt they can and probably would lock the account.......speak to or try and see if the co op account is active...i'm guessing its a basic cashminder acc?

I know everything will be ok but i am so anxious, worried and stressed.
It's taking over my life and making so distant and snappy.
I just want myself back. You will....its a huuuge step in your life to decide on bankruptcy...it seems like everythings stressing you BUT once the receivers done as I said above it'll go very quiet for the rest of your bankruptcy time to being discharged..

Any advice would be greatly appreciated
Thank you 

Just a few early thoughts and waffling....apologies had no coffee yet

Shellbelle33

RAS said:

There is a one-off fee for bankruptcy, which is £680 if I recall correctly? Is that the fee you were charged?

With whom did you talk about bankruptcy before you made the decision?

No it was for £18.74 which was all that was left in the account. So I have a zero balance now.
I’ve already paid the £680 a few weeks ago.
I was told they wouldn’t be taking any monthly payments from me either so I’m really confused.
I have emailed them now to try and clarify it all 

philnicandevan

Shellbelle33 said:

RAS said:

There is a one-off fee for bankruptcy, which is £680 if I recall correctly? Is that the fee you were charged?

With whom did you talk about bankruptcy before you made the decision?

No it was for £18.74 which was all that was left in the account. So I have a zero balance now.
I’ve already paid the £680 a few weeks ago.
I was told they wouldn’t be taking any monthly payments from me either so I’m really confused.
I have emailed them now to try and clarify it all 

Hmm strange they would take anything after despite you having no IPA....hopefully they can clarify for you....I know you say they wouldnt be taking anything from you after paying your bankruptcy fees BUT did they mention anything about tax payments?

fatbelly

I'm guessing that you indicated that your Santander account would be your main account. That may well be re-opened but the decision on that rests with Santander.

The Co-Op is a more bankruptcy friendly bank and it might have been better to have got your income and essential direct debits moved to that account ahead of the bankruptcy.

As it stands, the Co-op account was was probably declared to have an amount in it, you didn't indicate that you used the account for living expenses, so the small sum there was removed.

I can post you to guidance as to how they decide things if you are confused on any point. 

Can I ask a couple of questions. How much is your car worth and how did you decide on that figure?

Shellbelle33

philnicandevan said:

Shellbelle33 said:

hi everyone
i'll try not to waffle.

Applied for bankruptcy a couple of weeks ago and didn't realise how much there was to it. Hmm I remember the same back in 2006 when I filed for bankrupcy...it WILL settle down once the receivers done everything that should then be the last you hear...if anything in a bit it'll go very quiet uness the receiver needed anything else..
I've had a half hour phone call and then have had to email copies of my rent agreement and reasons why i need my car etc.
I've lost track of how many forms i need to print off and sign.Hmm ton of paperwork but that should be it you wont be expected to do anything else as I said above unless the receiver wantes to question something etc
Plus i have a face to face interview too soon... I had the same back in 2006...preferred the receiver in person rather than a call..felt rushed and stressed where as in person they took time and I felt better I could explain stuff...at the end of the day receivers offices are there to help you...
My current account (santander) was frozen which was stressful because i didn't think it would happen that fast, Hmm sadly it can...its the banks that freeze NOT the receivers...santander are a pain one of the most bankrupt unfriendly around.. i also had a basic account (co-op) which i thought would be left but now i'm not so sureThe Co Op account should be fine..have you spoken to them or attempted to use the co op account?? and there has been an insolvency service payment taken from that account today which i'm confused about (is that to do with the bankruptcy?). as RAS above said is this the filing for bankrputy fees OR has the receiver mentioned something called an IPA/IPO? this is worked out where any excess money (£20 a month free and above) left after living bills fees etc have been
Am i best just opening a new basic account elsewhere so i can pay bills etc? Thats up to you really although may be a struggle as there are not many places where you can open a basic account or are bankrupt friendly (meaning you could find a bank BUT unless they are not stressed about you being bankrupt they can and probably would lock the account.......speak to or try and see if the co op account is active...i'm guessing its a basic cashminder acc?

I know everything will be ok but i am so anxious, worried and stressed.
It's taking over my life and making so distant and snappy.
I just want myself back. You will....its a huuuge step in your life to decide on bankruptcy...it seems like everythings stressing you BUT once the receivers done as I said above it'll go very quiet for the rest of your bankruptcy time to being discharged..

Any advice would be greatly appreciated
Thank you 

Just a few early thoughts and waffling....apologies had no coffee yet

Thank you for all of this. I did write out a whole reply and it didn’t post. 

Not sure why 

Shellbelle33

fatbelly said:

I'm guessing that you indicated that your Santander account would be your main account. That may well be re-opened but the decision on that rests with Santander.

The Co-Op is a more bankruptcy friendly bank and it might have been better to have got your income and essential direct debits moved to that account ahead of the bankruptcy.

As it stands, the Co-op account was was probably declared to have an amount in it, you didn't indicate that you used the account for living expenses, so the small sum there was removed.

I can post you to guidance as to how they decide things if you are confused on any point. 

Can I ask a couple of questions. How much is your car worth and how did you decide on that figure?

That is what happened with the coop account. I thought it was ok to use so put some cash in to pay a bill and they took what was left and closed it.
so now I’ve opened a whole new account with nationwide.

The car I’ve had confirmation that I can keep. It’s worth less than a £1000 and is needed for caring for my mom, work and running my daughter about.

Had my interview today which wasn’t too bad. It’s because I used to be self employed so they’re digging a bit more.
I have to email them all my bank statements, tax returns etc.
I was so scared that I’d be sent to prison for not dealing with my finances well but he said that wouldn’t happen.
But it is possible they may extend my bankruptcy. 

sourcrates

You can`t go to prison for debt, an extension to the bankruptcy is worth the cost for your piece of mind.

fatbelly

Shellbelle33 said:

That is what happened with the coop account. I thought it was ok to use so put some cash in to pay a bill and they took what was left and closed it.
so now I’ve opened a whole new account with nationwide.

The car I’ve had confirmation that I can keep. It’s worth less than a £1000 and is needed for caring for my mom, work and running my daughter about.

Had my interview today which wasn’t too bad. It’s because I used to be self employed so they’re digging a bit more.
I have to email them all my bank statements, tax returns etc.
I was so scared that I’d be sent to prison for not dealing with my finances well but he said that wouldn’t happen.
But it is possible they may extend my bankruptcy. 

That is actually all good news.

Extending your bankruptcy is called a Bankruptcy Restriction Order. They are not particularly common and can be for between 2 and 15 years. You can see what sort of periods get awarded for what behaviour on the restrictions register

https://www.insolvencydirect.bis.gov.uk/IESdatabase/viewbrobrusummary-new.asp

The sort of things that cause them include

• giving away assets or selling them for less than their value
• paying some creditors in preference to others
• borrowing money that you know you can’t repay
• neglecting your business so that your debts increase
• not cooperating with the official receiver
• behaving fraudulently eg giving false details to obtain credit