My Bankruptcy Diary

TheEditor_2

Hi there,

Thanks for your messages about the OR meeting. It was a huge relief to be through that, but again with hindsight - it wasn't at all bad.

How apt, the month aniversary of my BR was St. Val's day. I was stuck away from my home and my loved ones - so saw the anniversary pass with a DVD and a few nice snacks. The month has literally flown past, a little slow at times due to money being short - but despite this things are looking up and the fact that I am debt free, working, healthy and wiser really hit home on the motorway back home tonight. I went over and over it in my head, how I got to this point and wished in all honesty that I'd done it years ago. But as they say, hindsight is 20/20.

My employers emailed me today, and at last, my invoice is being paid into my Co-Op account - so after a month it will be in credit.

I also had to re-insure the car today and it was done without a problem. All pretty normal really.

I got my letter from the OR this week telling me that I could keep the car and my home PC as well as my laptop I take away with me. My lifeline! Also, the "agent" called me on Wednesday to collect the business equipment, which he confessed, didn't have a clue what they were or did. This made me worry a little that they would not be sold for their true values, but then again, why should I care. It's out of my hands - they are not mine, I was just merely looking after them for a bank! The "agent" was polite, amusing and flexible as to when they could come and pick them up. Not what I imagined... No battering ram yet.

So there we go, a month - 11 months to go. Next celebration will be when I hit single figures in 2 months!

More when I have it...

TheEd.

fiveyearplan

I wish I had it all behind me by now but still haven't bitten the bullet - although I'm getting close!

tigerfeet2006

Ed, it is so nice to hear you sounding so positive about things.

Very sensible thinking with your business equipment, it's up to them now to sort it out and if they don't get all they can for it, it's not down to you.

Sorry to hear you weren't with your loved ones on Valentines Day, have an extra special celebration over the weekend.

TheEditor_2

Hello all,

Long time no update on my circumstances... It's good to be back. I'm working hard and all has been going well. Last week saw my first doorstep visit from the Inland Revenue. I was away from home, my wife was at work but my mother was looking after my kids while we were both at work so she answered the door and had to deal with a polite collection officer. My mum informed him of my bankruptcy and gave him a copy of my BR order and he left without any problem saying "There should be a note on the system, if not I'll update it."

I can only assume that the Inland Rev has one computer system for the collection dept. and another for the actual account. As they were my largest "creditor" I thought they would be first on the list to be informed by the OR. Computers don't make mistakes... people do!

Another letter came from Barclays Personal Finance (car loan) this time from a "solicitor" amazingly with the same postcode as Barclays offices. I made a copy of the letter, added a copy of my BR order and stuck it in an envelope and posted it back. I have not heard from them since.

The calls have started again from my other creditors, but standard responses to them "I'm bankrupt as of 14 of Jan" and mostly they put me on hold and then hang up on me. Charming.

The time is whizzing past and so far all is going to plan. I have had a few letters about my limited company and it's tax return but I just do the same and send of a copy of my BR order and forget about it.

I'm less stressed (with money at least!) and can see my finances more clearly - as I'm not continually robbing Peter to pay Paul.

The cost of living is increasing here and I must say Australia and NZ are looking like interesting options - but I'm going to post another thread about that for info on Visas etc post BR.

Hope everyone else is coping well, wether you are approaching BR or in the middle of it. Keep going, it's well worth it. 9 months to go if I don't get an early discharge.

More when I have it.... The Ed.

TheEditor_2

Well, here I am.

It's nearly 5 months since my BR and I got an I&E questionnaire regarding early dismissal. I umm'ed and arrr'd about it for a couple of weeks - and posted on here with a the questions I had about debt after BR. 5 months on and both cars are still on the driveway, one we use - the other is SORN, and letters from debtors are still coming in. I've kept in touch with the OR who has always answered my questions quickly and reassured me that it's all going to plan.

So, now - uncharted territory again. I've been asked to explain my business costs. I live away from home during the week and have to rent a small room, so my monthly costs associated with my self employed business are quite high and I completely understand why I need to explain them. That said, they have not really changed that much since I went BR in Jan.

I do have written proof of my spending, and it's all justified - I have nothing to worry about on that side of things and my budget is still as tight as it was when I did my I&E for my initial meeting with the OR, but what I am worried about is that if the OR contacts my current accomodation for proof of payment etc etc.

I've explained to the OR that I would prefer that my work accomodation wasn't informed of my BR. It's a small community where I work and I'd hate for the fact that I'm BR to effect my employment in the future. That in itself could be a possible cause for a "change of circumstance" in the future if the very fact that I was BR (wrongly so) altered the way people perceive me and the way I do business.

Hmmm. I'll wait to see what happens and hope that the OR see it my way.

More when I have it.

TheEd.

Merry_Gentry

Wow, this was fabulous to read! So clear about it all - thanks Ed!