Shall we go bankrupt?

Rosey321

Yes, I totally agree that it’s good to keep an air of light-heartedness about things, as this is essential to help get through the whole process.

The reality of course is that it is a heartbreaking situation to be in – and for all of us, not a path that we would ever have chosen or thought that we would be in – in fact, its one of necessity for most, and not a decision anyone would enter into lightly. My wife has cried a few tears about it all but she relies on my strength and humour to help get her through it. Therefore, I fully empathise with anyone who has to go through it alone and doesn’t have someone to lean on or a good support network. This is why forums like this are so invaluable, not just for advice but for the general support that all the wonderful people that contribute give – and if the humour side makes people smile through it – let’s do it all the more I say!

I think anyone who was to read through these forums who is not in the same situation may well raise an eyebrow at what is sometimes our light hearted expressions. However at the end of the day, it’s the way we all cope and to be honest, most of our comments have such a tone of relief in our words that possibly may only be understood by people in a like-for-like situation, who have been buckling under the very pressures of life.

I think therefore it is vital to stand back and think ‘hey it’s not going to be too bad after all’ – hard as it may sound. At the end of the day, it is a decision people make for a brighter future and a second chance and it gives them hope, a light at the end of what has previously been an existence of worry with no obvious escape route.

I think the wonderful stories and diaries that people have posted – some from BR inception to discharge, and the way life has improved for all concerned just proves this furthermore.

gettingthere12

Just want to say good luck for the 12th - a very good date (my birthday and two of my best friends got married then because it has never ever rained here on my birthday so they figured it was a good date).
I did the deed on 9th and apart from the odd phone call or letter life is a lot less stressful! I agree with everything you say about people thinking we might be being a bit light hearted at times but by the time most of us get here we have been through such a horrid journey and tried so many other things that we are relieved to have come to a solution!

Rosey321

Well everyone, the BR deed has been done :beer: which I will detail below. I’ve not posted for a couple of weeks as we moved and my phone line is still not working (good old Pipex – but that’s a different story!)

To summarise events since last posting, on 25th April we received the keys for our rented property and the plan was to move in over the course of the next week.

On that day, we also had a debt collector from Scotcall ‘pop round’ who was representing Firstplus chasing two months of arrears. Thankfully, we missed him and he left a calling card through the letterbox. This took us by surprise as we had only had a letter from Scotcall the day before asking us to contact them. In a state of minor panic, I rang FP and was on the phone to them for about an hour and thankfully managed to negotiate a repayment schedule (telephonically only!)for my arrears spanning six months (little did they know!). The first payment was due a week later, which was when we were to move out properly – perfect as I knew this would buy us a bit of time, and then if anyone comes round again, they’ll be knocking on the door of an empty house (oh well, at least the weather is nice!).

In addition we had started to get the bully-boys of Fredrickson International who are representing Cap1 on our case. Again, I just managed to stall them until the big day as they were just preparing to add large chunks of legal fees and solicitors fees onto our balance. This one came about because Cap1 agreed to give us 28days to return an I&E form at the start of April before we decided to go BR which we got in writing. They even agreed to freeze costs and interest. However, they were actually lying through their teeth because they passed the account within a couple of days to Right Said Fred (or whoever they are) – They’re not too sexy for my cash anyway!!
Two more creditors worth a mention – M&S and Next. Both brilliant – they both sent through renewed payment schedules of £1 a month for 12 months without us asking. I hope the bankruptcy estate treats them well. If only all creditors were as good.

Anyway back to the BR, we got the last bits finalised. I managed to establish my wife’s job would be fine which was a relief and we got the forms filled in over the weekend. Annoying though that I didn’t have the internet to rely on as due to our phone and games with Pipex. I had ‘favourited’ many pages that I was going to use for my I&E, and I was going to post the I&E on here first.

Yesterday came, and pretty much was done and dusted without any fuss. We arrived at 9.45am and we both gave our forms to the clerk who went through them with us. We didn’t need to make any amendments so that was a quick 10 minute process. We then swore our oaths in front of the clerk, (and pretty much in front of the waiting room!). He then told us he would take the forms to the judge who we wouldn’t need to see. He said he could see no reason why we wouldn’t be declared BR, and to pop back about 11.30am.
We then went to the shops for a cuppa and went back an hour later. We returned and the forms were waiting for us, duly stamped declaring that we had been made BR at 10.41 and 10.42 respectively. We were then free to leave. It was quite fitting it was a sunny day as I could feel our own clouds lifting straight away. It didn’t quite sink in for a while.
The OR telephoned late yesterday – she seems really nice too which is a great comfort. We have our telephone interviews arranged for 2 weeks time but obviously we will stay in touch before then. My wife was out at work when she phoned but I’ve advised her to literally phone and say hello as I feel better for just knowing how helpful and empathic she sounds on the other end of the phone.

I’m certain we will pay into an IPA, but we get paid before the planned interviews so I’m hopeful as well that we might have our May pay free before the IPA commences, although this will no doubt be confirmed.

Anyway, that’s about it to date. I can honestly say I had the best nights sleep last night than I’ve had for a long time. At this point, I can definitely say that it feels like the right decision.

betterlatethannever

Thats great news Rosey:T

Sounds like everythings gone well.

Good luck for the interview and let us know how it all goes.:beer:

Waspeze

Really glad it went well for you Rosey

I had court on the 17th March, my first payment into my IPA starts this thursday (15th May, which happens to be my payday ), so I got April free! .. it says on the form on this day on shortly after so I guess for yours if the IPA was due to start a few days before your next payday you could probably put it off a couple of days to give yourself a free month

Chihuahua_Mistress

Glad it went well for you both!

philnicandamy

Glad to hear all went well...thanks for the update

FeelingLow

thats great news i'm so pleased it went well for you xxx

Rosey321

Curiousity led me to the cash point last night to see if my Barclays accounts had been frozen. Surprisingly, both my joint current account and joint savings account were still live.
I thought they would have been frozen by close of play the day after BR. Is there a chance they might have been frozen already and reactivated after a word from the OR or might it take this long to freeze? The OR did say she would try and keep them open but to beware, if they stayed open Barclays may try and grab back what I owe them from a third account (just over a thousand) when my wages next go in.

Also, in my account, our £40 child tax credit had been paid in. Was it alright to withdraw this?
Lastly, it appears that the tax credit actually went in on Monday (BR day). I'm a little worried because I declared that there was only about £5 in the bank that day (which I believed to be the case) whereas there was this extra tax credit. Anything to worry about? It was an honest error (if I'd have known it was there, I would have withdrawn it before the hearing!). Should I tell OR just to be safe?

philnicandamy

If its anything like my Barclays accounts they took over 5mnths before they were closed (both accounts -500) you shouldnt really have drawn the cash out because once your BR all your bank accounts etc become property of the OR you should have ideally rang and asked if the OR would give permision to release funds...i'd tell them what you've done but dont worry for such a small ammount they'll probably be ok