Discharged Today !!!!

2

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  • Butts
    Butts Posts: 1,289 Forumite
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    broaps wrote: »
    At my age, you're just a youngster. Although I only ever admit to being over 29 if asked. Do you still have the legs for a kilt as you're soon moving back?

    Fraid I never had them even as a youngster - although I did get married in one !!
  • Butts
    Butts Posts: 1,289 Forumite
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    Looking at my "Old Debts" a lot were bought up by Cabot - they took a hit of 65K when I went Bankrupt.

    Don't feel to sorry for them as they probably paid pennies for them.

    This is one of the daftest aspects of Bankruptcy - if the original Creditors offered reasonable settlement figures there would be far fewer Bankruptcies and they would get a meaningful sum back.
  • Butts
    Butts Posts: 1,289 Forumite
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    Does anyone know hy you don't get a copy of the initial and final reports the OR sends to creditors - ie at the start and end of Bankruptcy.

    What can be so secret that they feel unable to share this information which after all is about you ?

    Not as if you don't have to pay at least a portion of the OR's costs by way of the Bankruptcy Fee.
  • Butts
    Butts Posts: 1,289 Forumite
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    Does anyone know why you don't get a copy of the initial and final reports the OR sends to creditors - ie at the start and end of Bankruptcy.

    What can be so secret that they feel unable to share this information which after all is about you ?

    Not as if you don't have to pay at least a portion of the OR's costs by way of the Bankruptcy Fee.
  • silvercar
    silvercar Posts: 46,955 Ambassador
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    Butts wrote: »
    I did indeed it started six years ago when I signed the House over to my ex-wife and could answer honestly on the BR Application I had no properties nor disposed of any in the last five years.

    I sold my car to my son one year before BR so I could honestly answer I had not had a vehicle in the last year.

    I moved from Scotland to Wales tx in my job so I would only serve a one year sentence with regard to an IPA - ie discharge after a year and thats it.

    Finally three months before going BR I reduced my income massively to avoid an IPA.

    I still lived relatively well for the year of my bankrupcy.

    Obviously not everyone will be able to take all the steps above and my debt situation had been accumulated over a decade - well north of 100K.

    Being old, free and single for me it was a breeze :D

    Wow, some serious and long term planning. I'm curious, does the ex-wife now sign the house back to you? Now that you are bankrupt free, earning well, will she marry you again in the hope of another generous gift? :rotfl:
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  • ToxtethO'Grady
    ToxtethO'Grady Posts: 342 Forumite
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    Strangely, the OR queried our £500 car presumably as we are retired and so don't need to get to work. We had to send evidence of my husband's medical needs to justify keeping it. We were definitely surprised about that as everyone says a car below £1000 should be no problem. We had no other assets so maybe that was why.


    Just to answer this for anyone else reading the OR is there to get the most money from the BR so will look to release costs.


    why do you need a car when you have free bus pass as a pensioner? Why do you need a car when you live in a city? These are the questions they will be looking at so be prepared to answer the queries.
  • Butts
    Butts Posts: 1,289 Forumite
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    silvercar wrote: »
    Wow, some serious and long term planning. I'm curious, does the ex-wife now sign the house back to you? Now that you are bankrupt free, earning well, will she marry you again in the hope of another generous gift? :rotfl:

    If I look in the mirror the answer to that question is obvious - They didn't call me "quas" at school for no reason :D

    Seriously, when my marriage came to an end around 2008 I had a lot of debt due to us living beyond our means as my ex-wife didn't work. At the time of the split she was training to be a Teacher so was not earning very much. She now earns a lot more than me.

    I had to wait until 2012 to sign the house over to her when she was earning enough to get a mortgage to cover it. Five years on from that the bankruptcy process can start -ie last year.

    So I signed it over to protect her and the children for no consideration. She does owe me half the value of the property but not on paper. The plan is for her eventually to buy me a Flat.

    I should add that I no longer have a high powered job but can earn enough to rent a flat, eat and have to many Benson & Hedges every day.
  • broaps
    broaps Posts: 97 Forumite
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    ToxtethO'Grady wrote: »
    Strangely, the OR queried our £500 car presumably as we are retired and so don't need to get to work. We had to send evidence of my husband's medical needs to justify keeping it. We were definitely surprised about that as everyone says a car below £1000 should be no problem. We had no other assets so maybe that was why.


    Just to answer this for anyone else reading the OR is there to get the most money from the BR so will look to release costs.

    why do you need a car when you have free bus pass as a pensioner? Why do you need a car when you live in a city? These are the questions they will be looking at so be prepared to answer the queries.

    You are right TO'G. The OR asked could we not use the bus and we explained that our GP is not on an easy bus route for us - it would need 2 changes and a long trip rather than 10 minutes by car. My husband also has multiple health issues which need attendance at different clinics which would also be tricky by bus. We sent medical reports and all was OK.
  • Butts
    Butts Posts: 1,289 Forumite
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    broaps wrote: »
    You are right TO'G. The OR asked could we not use the bus and we explained that our GP is not on an easy bus route for us - it would need 2 changes and a long trip rather than 10 minutes by car. My husband also has multiple health issues which need attendance at different clinics which would also be tricky by bus. We sent medical reports and all was OK.

    Has someone inadvertently hijacked my thread :eek:
  • ToxtethO'Grady
    ToxtethO'Grady Posts: 342 Forumite
    First Anniversary Name Dropper First Post
    Sorry Butts!


    Congratulations on being discharged and your new start!
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