personal stories .. bankruptcy

[Parkvale]

WOW!! What a nightmare. I have just read through the whole thread.

[seylectric]

WOW!! What a nightmare. I have just read through the whole thread.

 

Yes basically my head went down completely having lost the appeal - I had only gone to court to request an adjourment anyway - and from that point the solicitor, who promised much but did nothing - basically suggested the IVA hence we are in he position we are in now. I was spending hours and hours trying to get help, info etc. and getting nowhere so decided to put my energies into my business and concentrate on raising money rather than trying to get rid of the debt via an increasingly unlikely annulment. The overwhelming message that kept coming back to me was "you won't get it overturned because you owe the money", even the solicitor was singing that tune as time went on.

 

What hurts more than anything is the O.R.'s appearance in court - given that we were appealing that the bankruptcy should never have happened in the first place surely they had no reason to attend? The O.R. only comes into the frame at the point you are made bankrupt, not before! What happens before that is surely no concern of theirs? Again it all stinks of being stitched up by the system, but it's hard to keep fighting, and even finding the time to do so, when you are getting nowhere and your head is permanently in bits, especially as I have been working 60-70 hours every week to try and raise what I can.

[gizmo111]

I've asked someone who knows more about IVA's to have a look at your other thread on the mis sold IVA.

[seylectric]

I've asked someone who knows more about IVA's to have a look at your other thread on the mis sold IVA.

 

Thank you, very much appreciated.

[phat256]

hi everyone it is the start of my bankruptcy diary .....

 

i am feeling very weird sad , guilt and well happy that tommorow i will be free from debt ... i couldn't stop crying when i was signing my insolvency form . I never thought it would happenned . i am feeling very scared for the future but i know that we can't repay what we borrow. what an awfull feeling i said, i felt like i have had stolen some money and gettin away with with it !!!!! not a nice one i can tell you ....

 

will tell u more tomorrow when the deed is done i am too emotional ......

[blue4ever]

Hi Again phat256 What you have just posted is the same as felt when i went bankrupt.Ican`t beleive how your post was 100% the same.

 

if we had the money to pay we would but just can afford it.

you will think that the weight of the world has lifted from your shoulders

tommorrow trust me

I`LL BE THINKING OF YOU TOMMRROW

 

GOOD LUCK PAUL

 

REMEMBER YOU ARE NOT ALONE

[phat256]

thanks blue fever i just can't believe i put myself into such situation . i thought that by just petioning for my bankruptcy all will be gone but i haven't thought about the way i will feel about it !

 

i am feeling right such a feeling of shame !!! which is not really nice and i can tell you to the other people considering bankruptcy it is not an easy way out !!!!!!!!

[blue4ever]

thanks blue fever i just can't believe i put myself into such situation . i thought that by just petioning for my bankruptcy all will be gone but i haven't thought about the way i will feel about it !

 

i am feeling right such a feeling of shame !!! which is not really nice and i can tell you to the other people considering bankruptcy it is not an easy way out !!!!!!!!

 

It is not easy BANKRUPCY---The feeling of shame is there but as i have read your tread you have tryed other ways so hold your head high and treat tommorrow as a start to a BRIGHTER FUTURE i`m not saying the feeling of shame goe`s away completely,after tommorrow you will not have letters /phones calls and people giving you grief.

You have got to now look after YOU&YOURS

[reduk054]

Hi phat256,

I just noticed your thread and wanted to wish you good luck for tomorrow in court. My OH went BR just over a year ago, and he has now been discharged, the year flew by!

With regard to the court, it was really quite informal, it did only take 5 minutes, and the judge simply asked my OH if he had made his decision to go BR based on formal advice, which he had.

The "court" room was more like an office than a court, with a desk, a judge in a suit and a sound recorder (dont know if it was used though!).

My OH felt like such a huge weight had come off his shoulders, and it really seemed to be the best option for us.

He received a 45 min phonecall the following day from the Official Receiver, who was lovely, and understanding, and very human!

I had to deal with the OR a couple of times when more creditors started to write through requesting payments, and the OR just asked for their name, address and he wrote to them on my OH behalf, and we did not hear from them again.

My OH does now answer the phone, the door, and even opens his own mail. He feels like he really has been given a second chance.

I was really concerned about how family and friends would take the news about the BR, and felt shame, which I certainly did not need to - all we received was support, and again understanding that BR was the only option.

I really hope that it goes well for you, and wish you the best.

Here's to a fresh start!

Good luck, and I am thinking of you!

Red x

[phat256]

same as me i still haven't told to my parents don't want them too worry too much.. sorry it is one feelings which i never felt so strongly ...

Edited July 17, 2008 by phat256

[reduk054]

Hey Phat256,

families are funny things! I don't know your family or how you get along with them in general, but I would hope that they would support you and this very difficult, life-changing decision.

My dad is someone whom I highly respect, has never been in debt, is very opinionated, but I wanted to tell him about my OH, about what had happened regardless of whether he would talk to me again. I told him to sit down when I phoned to discuss things with him, and his response still leaves me gob-smacked today. He was so totally supportive that I questionned why I had been worried in the first place.

I think in this current climate, that debt, and indeed BR are much more common, there is not the same stigma as there was say 10 years ago.

I would really hope that you can share your fears and concerns with those around you who can support you, can love you for who you are, and can see that this is not a situation which you wanted to be in, but that you are trying to make your life better.

I don't regret telling my family and friends about me and the OH at all, and it is liberating to be able to discuss our situation freely. Of course, I know that I am lucky, and I can only say that with hindsight!

Your decision has to be the correct one for you, but I was spurred to tell everyone in my life who is important to meafter another CAG user went BR, had not told anyone becaue they were ashamed, and ended up losing their house (I know your situation is different!), but if they had told their family, they could have been helped, and supported.

Am happy that you can share your experience here though, we are kind of family, and certainly friends!

Red

[Parkvale]

Godd luck today. Read this and you will understand what other people have gone through and why CAG exists. http://www.consumeractiongroup.co.uk/forum/show-post/post-1618688.html

[phat256]

as of today i am bankrupt and do not owed any more money and what a relief scary but a relief !!!!!!

 

the process was very easy well not really on a personal level but with the support of my family and partner i will not be here.

 

the juge was really nice. it only lasted 5 minutes . he did ask me if i had any legal advise to which i replied yes then he explained the implication of bankruptcy in detail .. then i had a phoen call from the Official Receiver which he was nice also so waiting for my interview with them. so will keep you posted now getting for a drink ......

[Parkvale]

Today is the beginning of the rest of your life.

You are a different person today from yesterday. Life is about progression and you have certainly progressed. Maybe your future looks clearer now. Good Luck,

[reduk054]

I am really pleased Phat256 that today went well for you. I hope that this BR really does make a difference to you, and that you can start to look forward!

Best wishes

Red

[phat256]

thank you all for your kind words of support and encouragement.

 

i checked the insolvency website and my name is already shown as being bankrupt yesterday afternoon ... that was quick lol .

 

i wa glad when wescot called yesterday evening and i was able to tell them to get lost i am bankrutp and this the the details ,.... the guy hung up without even saying goodbye !

 

then it was the same with the coop the lady went a bit stroppy with me, maybe no commision for her then !

and for the first tiem i had a good night sleep with nothing to worry about how i am going to repay them .

[BARROWPIG]

A word of advice about Bankruptcy: It is the same as becoming dead whilst still alive. You own nothing, you have nothing. Everything of any value is put into a kind of Estate. As for wiping the slate clean... yep, but in around 6 years time after discharge (providing you don't apply for Credit throughout that whole period of time). Any contact that you receive from creditors from the actual date of Bankruptcy: simply quote them your Court & Case number. If they persist then simply tell them to " F**k Off". The law is on your side once made bankrupt, it is PROTECTION. Don't be intimidated but just remember that any continuance on your creditors behalf to get money out of you once made bankrupt is ILLEGAL. Even contact with you is illegal. Good luck, Peter.

[phat256]

hi peter i am awware that i do not have nothing and everything belong now to the Official receiver even my bank account !!!!!

 

anyway i went bankrutpt last month as i didnt; have any asset whatsoever so it is not much of a problem .

 

you right about swiping the slate clean and it is such a relief but it comes with a heavy price!!!!

 

i did receive soem contact from a creditor some gave up straight away another one doesn't seems to understand what bankrutpcy laws are ! they tried to use a solicitor to have a ccj agaisnt me last week i had to have again send a copy of my bankruptcy order then they had thew cheek top call me 2 dasy agos to arrange a repaymetn plan i tild them where to go adn if they want something ring my official receiver who deal with my so called estate.....

 

the worst of all was halifax they were ringing me at least 10 times a day even though they knew i was bankrutp and as such i could not even talk about repayment ( unles i want some serious trouble from the Official receiver ) no they stop thanks i think thanks to the officail receiver for this !

 

My council tax arrears went a bit funny with me they threaten me with bailiff i send them a copy of my BR order then they send a letter saying will review our decision and we will contact you soon .. well WTF!!!!!

 

 

however i do not get scared as all their threatr aree pathetic attempt with no meaning whatsoever as iam under the protection of the court until my discharge so if they want to waste their monay let them i will have a laugh !

[phat256]

..... sorry same post as before lol ...

[Fluffy Viper]

I have been considering bankruptcy for a few weeks now as I too have no assets (rented house, car worth about £300 and nothing else) and unsecured debts of about £25k and after reading your thread I think I will go for it. It would be nice to be able to answer the phone again.

[phat256]

hi fluffly viper have u consider every other option or did u ask for any adise before hand ? thinkl carefully bnakruptcy is not as easy as u may think there is a lotr of stigma attached to it.

 

i went bankrupt because i could not repay any of my debt before hand it was well over 6 month that my creditor received nothing from me as icould not gave them any money as i did/do not have any.

 

before hand i went to national debtline then went everythign through me at the tiem i was unemployed due to redundancy then i had very little money as the company i work for went under.. my only incme was JSA not much .

 

Natinal debtline first proposed me a DMP to which i could not afford the amount even if i had a job ao then they suggest to filew for bankrutpcy as i do not have any asset and nto enough income to get an IPA.

 

although ity is nice not too worry about who is on the other side of the phone and to told them ot Fxxk off!

 

My oh and me are both bankrupt and now we have to learn to live within our mean and not on credit anymore ! it is a bit of a challenge to start with lol but as undischarged bankrutp we are not allowed any credit of 500 pounds or more ! anyway who would want one after going for Br.

 

then we are waiting to see wether barcalys or the coop wil let us aopen a new basic , no thrill bank account.

[phat256]

just had today my interview with my OR . it was quite intimidating and i cannot believe how much information they got on me ...

 

anyway i am glad i will have no IPA/IPO and they told me iam a good candiate to be consider for early discharge as i have no asset and have very little income . what a relief now i can move on and rebuild my life !

[Sugarbabe47]

Phat256

I myself am considering going bankrupt-how long was the interview? If you don't mind me asking. and what kind of information did they have on you?

Sorry to hijack this thread but I am reading and reading as much as I can before I make my decision. Thanks for your help.

[DZZ]

Hi, i declared myself bankrupt in April this year, it is a daunting process especially once you know this is your only option but it is painless one.

 

My interview with my OR was over the phone and took 40 mins.

 

They wanted to know why i couldnt pay my debts, if/why i took further credit out knowing i couldnt afford to pay them, what i spent the money on, they go through all your paper work you fill in and take to the court with you, they go into depth and try to gain the full picture as to why it has come to this, they are not rude and dont judge but mine was sturn but fair.

 

I found the whole process painfree but wish i had done it earlier instead of struggling to find money for food etc and trying to pay my debts.

 

I still get the odd letter now and again from creditors but they have recieved letters from my OR and i have phoned them to tell them i am bankrupt so i either send them to my OR or bin them.

 

If anyone has been advised to do this i would say do it now rather than later as you would just regret putting it off.

[phat256]

absolutely agree with you DZZ.

 

my interview with my OR lasted around 40 minutes too they kept asking me why have you taken thisw loan if u knew you couldn't repaid it ? a for each every loan and credit cars i took.

 

what surprised me was the vast amount of information they gathered about my finance and ( i haven't got any so that was dealt very quyickly !) unbelievable !

 

after they wanted to know about some transaction two years ago as they were a large amount which i could not even remenbered.

 

i still received the odd phone cal but it is getting a lot quieter now .

 

ans same a syou i wish i did it last year as it woulod have save me a fortune and i could have bought some food adn clothe for my new job but hey i learnt my lesson no more credit for me ! that 's it i have been too foolish in the past !

 

 

the OR was very polite alhough they went straight to the point no time for waffling lol

 

i have to say now iamstarting to enjoy my life i am no more stressed about who is ringing me up etc...