Bankruptcy

[leighp]

just been to court and now im bankrupt and it was painless think i was worrying about nothing least ill be debt free now

[sequenci]

It's a far easier process than most imagine.

 

Keep us posted with your progress!

 

Seq.

[leighp]

im worried tho cos i included brighthouse in my bankruptcy but dont have the goods to give back to them will i be screwed lol and also had a credit union loan 2 days ago to pay for me bankruptcy didnt have any other way i personally think they will stick a restrictions order on me lol thats what stepchange said anyway

[sequenci]

im worried tho cos i included brighthouse in my bankruptcy but dont have the goods to give back to them will i be screwed lol and also had a credit union loan 2 days ago to pay for me bankruptcy didnt have any other way i personally think they will stick a restrictions order on me lol thats what stepchange said anyway

 

It's possible. You can find out more about those restrictions via this useful guide:

 

http://www.bis.gov.uk/assets/insolvency/docs/publication-word/bankruptcy-restrictions-orders.doc

 

Not sure what brighthouse are likely to do - whilst they could bring action due to you not having the items any more I'm really not sure that they will.

[Wintry]

im worried tho cos i included brighthouse in my bankruptcy but dont have the goods to give back to them will i be screwed lol and also had a credit union loan 2 days ago to pay for me bankruptcy didnt have any other way i personally think they will stick a restrictions order on me lol thats what stepchange said anyway

 

Hi

 

I agree with sequenci, not sure how Brighthouse will react, it would probably depend on the value of the goods.

 

As far as restriction orders are concerned, not sure you will get one from what you have put, there usually has to be a fair bit involved so to speak - you can get some idea of the sort of thing they apply them on & for and the time lengths by looking through I/S register (link below)

 

http://bis.gov.uk/insolvency/personal-insolvency/restriction-search

 

My view anyway:)

[sequenci]

My view anyway:)

 

And always (for want of a better term) on the money.

 

If you read through the list of restrictions people have been pretty naughty to have been given one. I would imagine there would need to be serious intention of wrongdoing to be proven - I'm not aware of what rules the Official Recievers have - or if they can exercise discretion; I imagine they can.

[Wintry]

And always (for want of a better term) on the money.

 

If you read through the list of restrictions people have been pretty naughty to have been given one. I would imagine there would need to be serious intention of wrongdoing to be proven - I'm not aware of what rules the Official Recievers have - or if they can exercise discretion; I imagine they can.

 

Hi

 

Yes, I agree with that and from experience to a certain extent

 

You could argue something in every B/R case I suppose, but that would be a little silly in my opinion, people almost never go bankrupt because they want to and can have gone through enough suffering, stress & worrying prior.

 

The O/R will have their guidelines I should imagine, it is time they maybe don't have enough of!

 

My 'take'

[leighp]

thanks for that link looked through those they are naughty lol ill be ok

[Wintry]

thanks for that link looked through those they are naughty lol ill be ok

 

Hi

 

Yes, lets hope so

 

Maybe Stepchange looked at the worse case scenario:)

 

Think you might be able to challenge any proposed BRU or BRO anyway

 

All the best and let us know how you get on if you can as it may help others in a similar situation

 

My opinions & views as always

[sequenci]

thanks for that link looked through those they are naughty lol ill be ok

 

Check them out, you'll see what I mean:

 

http://www.insolvencydirect.bis.gov.uk/IESdatabase/viewbrobrusummary-new.asp

[sequenci]

This chap was given a two year BRU:

 

Length of order: 2 Years 0 Month(s)

 

Conduct: Between 06 April 2007 and 08 May 2012 Anthony Edward Chatterley (“Mr Chatterley”), whilst self employed, neglected his business affairs, which has materially contributed to his bankruptcy, in that Mr Chatterley failed to pay £21,916.32 of self assessment income tax for the tax years 2007/2008, 2008/2009 and 2009/2010 and VAT of £9,742.42 for the period ended “03/10”, resulting in a total debt of £31,658.74 to H M Revenue and Customs (“HMRC”) (excluding interest and charges), who presented a bankruptcy petition against him.

 

As you can see, your situation pales in comparison massively

[db1984]

Hi leigh

 

Hope u dont mind me asking what was ur circumstances?

[sillygirl1]

An old boss of mine had a 10 year restriction, but then he was really milking the expenses from a company which was not trading.... he had done it previously three times and got away with it, that time they hammered him. Luckily I hadn't worked for him for about 18 months when he was made bankrupt.

 

I'm looking into it as an option at the moment so keeping an eye on this thread.