My Bankruptcy journey

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  • Maverick1103
    Maverick1103 Posts: 99 Forumite
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    I see makes sense now, so the examiner will be my go to contact, as she gave me her details to contact if anything changes, I always thought it would be the OR I remain in contact with.

    Hmm I see, although my life insurance policy is only 8 months old, I'm not really in the position to buy it back at £50, I may just let it lapse and set up a new equivalent policy in 12 months.
  • haggis0073
    haggis0073 Posts: 160 Forumite
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    glad it went well bud :)
  • luvchocolate
    luvchocolate Posts: 3,254 Forumite
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    Maverick1103 wrote: »
    I see makes sense now, so the examiner will be my go to contact, as she gave me her details to contact if anything changes, I always thought it would be the OR I remain in contact with.

    Hmm I see, although my life insurance policy is only 8 months old, I'm not really in the position to buy it back at £50, I may just let it lapse and set up a new equivalent policy in 12 months.

    Sounds like a good plan
  • Butts
    Butts Posts: 1,289 Forumite
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    luvchocolate wrote: »
    The person who called you would be an examiner many of these work on behalf of the Official Receiver who is a bit like the Wizard of Oz!
    I didn't have life insurance but many on here think its a good idea to purchase it back for the sake of £50.

    I did this as part of my bankruptcy. It might be particularly relevant if stopping paying the £50 per month pushes you anywhere near "IPA Territory". If you cancel the policy your outgoings for IPA consideration will be reduced by the same amount.
  • Maverick1103
    Maverick1103 Posts: 99 Forumite
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    @Butts I'm confused, I'm pretty sure its a one off payment of £50, I only pay £11 for my life insurance policy, which if I cancel puts me £11 surplus.
  • Butts
    Butts Posts: 1,289 Forumite
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    Maverick1103 wrote: »
    @Butts I'm confused, I'm pretty sure its a one off payment of £50, I only pay £11 for my life insurance policy, which if I cancel puts me £11 surplus.

    Yes it is a one off payment of £50 - Are the premiums only £11 per month ? I thought you were saying they were £50 month.

    If it is only an £11 Surplus by cancelling the Policy then you will not qualify for an IPA as £20 surplus is the starting point. Just make sure all your other figures are watertight.
  • Maverick1103
    Maverick1103 Posts: 99 Forumite
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    Sorry, I meant it that I was told that I'd pay £50 not that my premium was £50. Well I did the I&E with StepChange some I'm pretty positive that I should be good.
  • NINANinja
    NINANinja Posts: 52 Forumite
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    I found my OR Office contact really useful when a couple of creditors kept contacting me even after my BR. One of them was a debt collector engaged by HMRC to collect a quite small Tax Credits overpayment. They were very persistent and dismissive. I'd changed my name after BR and I think the debt collector thought I was telling porkies! The OR office waded in and told them in no uncertain terms to stop contacting me. I also got an apology from HMRC and a cheque for £30 'compensation' which the OR let me keep. Happy days - 4 years ago now.
  • Maverick1103
    Maverick1103 Posts: 99 Forumite
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    NINANinja wrote: »
    I found my OR Office contact really useful when a couple of creditors kept contacting me even after my BR. One of them was a debt collector engaged by HMRC to collect a quite small Tax Credits overpayment. They were very persistent and dismissive. I'd changed my name after BR and I think the debt collector thought I was telling porkies! The OR office waded in and told them in no uncertain terms to stop contacting me. I also got an apology from HMRC and a cheque for £30 'compensation' which the OR let me keep. Happy days - 4 years ago now.

    It's good to hear positive feedback about them, I will say there are quite a few that have posted how professional they are.
  • Gaz1
    Gaz1 Posts: 33 Forumite
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    Hi all I have started my BR journey today and I have to say I have never felt so sick in all my life clicking the "submit" button I'm just hoping it gets better from here on. I'm dreading the phone call but reading what everyone has said it has taken the edge off but knowing my luck of late, I'm going to end up with the one who is having the worst day ever.
    Gaz
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