Advice needed please-bankrupcy

[sequenci]

I hope I can keep my car

 

How much is it worth hun?

[Sugarbabe47]

Hi Sequenci

Well I know the O/R's check on Parkers for valuation on cars, I tried their website and can't afford the fees to check...ironic really...but hey ho.

I believe my car is worth about 400-600 pounds. But to me its worth a lot more than money, it was my dead brothers car and I am only using it, as my nephew was only 18 when his dad passed away. He has kindly let me use it until he is 25 and he can afford the insurance. I have explained this on my B/R paperwork and my nephew has signed a statement to veryify this, so legally it isn't my car, even though I tax and insure it and its in my name for now. I pay for the service and upkeep of it and work in another town and have to travel to 2 sites in my job, so I am hoping to keep using it. I will be posting after my interview on Tuesday to let you all know how I get on....a little worried about the interview and I still feel a failure about this bankrupcy, but I do believe that this was the best thing for me to have done in my circumstances- I just don't feel the relief yet, maybe I will in time. My head is still a bit mushy with it all, but I DO feel relief that I am not going to be hounded anymore by the bailiff company, that have persecuted me from the same week that I found my brother dead in bed. I can't thank this site enough for all the support and kind words that I have had throughout this dreadful time in my life.

It has given me some closure though on what debts my ex husband left me in so thats a positive:D

Sugar x x

[sequenci]

I believe my car is worth about 400-600 pounds.

 

It's VERY unlikely that they will be interested in it to be honest, especially if you need it for commuting.

a little worried about the interview and I still feel a failure about this bankrupcy, but I do believe that this was the best thing for me to have done in my circumstances- I just don't feel the relief yet, maybe I will in time.

You will, once the OR interview etc is over. I would imagine the majority of your relief will hit once you are discharged

I can't thank this site enough for all the support and kind words that I have had throughout this dreadful time in my life.

It has given me some closure though on what debts my ex husband left me in so thats a positive:D

Sugar x x

 

That's good to hear, I really hope that you will hang about to help other people who might be considering this route; it's folks like you who have first-hand experience that are vital in guiding others. I can advise on the technical aspect of bankruptcy but I have little knowledge of how it actually FEELS

 

best wishes,

 

seq

[Sugarbabe47]

Seq...I aint going anywhere:D And I will help here when and indeed if I can. I am glad I found this site, wish I had this advice years ago, but we all think that don't we? Hindsight - tis a wonderful thing...lol

Sugar x x

[tallulah59]

Hi Sugarbabe,

I've just been reading through all your posts and it makes me so angry that decent, honest hard-working people like you always seem to get harassed and victimised whilst criminals live the life of riley! I know B/R must be a scary thing but it must take tremendous courage to take that step and you should be proud of yourself for making the decision. There is NOTHING to be ashamed of (you are facing up to your responsibilities with dignity, even though some of them aren't even yours) and THOUSANDS of us are right here with you. I hope everything goes OK and that you, your kids and doggy can now look forward to a brighter and happier future.

 

Best Wishes

Tallulah

[Sugarbabe47]

Tallulah Hi

I agree - it stinks that I feel I have been let down by so called authorities, some possibly younger than my own kids!!! But the plus side,I feel proud that I managed to make sure my kids have the best start in life and they are not here suffering, with no gas/electric/food!!!! I can cope, but this will change now. I couldn't go on - working 80 some weeks 100 hrs a week my body wouldn't let me....ill health = time off work = no money = a very horrid circle!!! I do feel ashamed still and am old school. I have only ever been off work to have my kids - never claimed unemployment benefits....oooh...shouldn't rant:rolleyes: Anyway hopefully I will be able to have a fresh start for ME....Just got my first passport 2 years ago, never left the country, and at nearly *cough cough* (not saying how old!) I feel the time is now to look after ME - No-one else will and it aint a dress rehearsal!!! So I do count my blessings and I appreciate there are people a lot worse off than me.....

Take care

Sugar x x x;)

Will keep you all posted as to how I go on next week.

[fermi]

Good luck for tomorrow.

 

I think you've seen that the interview isn't normally as scary as you imagine, as with the court.

 

Remember that the interview works both ways. This is also a great time to quiz your examiner about things on your mind or that you want to know.

 

All the best.....

[Sugarbabe47]

Morning all.

Sat here at work waiting for my O/R interview this morning at 09.30am:eek:

I feel a little scared but I haven't slept properly yet since I was B/R....hopefully after today I will!!!

I have a list of questions ready to ask my O/R...I will post later on and let you all know how it went. Thanks for all the support guys/girls

 

Sugar x x

[Justhadenough]

Good Luck For Today.

 

Been there 6 years ago now, It is a little scary till you go in and then you will be suprised at just how understanding the O/R will be..

 

Today is the start of the rest of your life.I have not looked back and if i do its only to draw on the Experience,and Learn.

[Sugarbabe47]

Hi all - OMG:eek: Can you believe my luck????? Just had a quick call from O/R's Office---their phone lines are down and I will be contacted sometime to arrange another interview!!! I feel as if everything goes wrong for me....sat here at work dumbfounded to say the least.....all this worry and stress.....grrrrrrrrrrrrr......

Will keep you all posted as and when

 

Sugar x x

[Sugarbabe47]

Hi all

Just had my telephone interview....phew....I feel relieved now. It was nerve wracking but I answered all the questions honestly and I felt a bit thick when I was asked some questions about time off work and got dates muddled up, I couldn't remember which operations and time off work I had since 2000, but hey ho good news - I keep the car and no I.P.A!!!

I asked the nice:) lady a load of questions and was suprised that the interview flew by. OMG.....I do feel happier than I have done in YEARS!!!!

I thank you all in here for all the good wishes and support that you have ALL provided me with......Fantastic site.....fantastic people...I LOVE YOU ALL.....;)

Sugar x x x x

[tallulah59]

Hi Sugarbabe:)

I'm so pleased for you, we all wish you only the very best for your future 'cos you certainly deserve it after what you've been through! Your story will have helped hundreds of people and will continue to do so in the future.

Take care and bless you!

Tallulah:razz:

[fermi]

Great news.

 

For people like you and me who have ended up in the ****, bankruptcy really can be a lifeline. Not something that you really want to do, but it can be a blessed relief and a new start when really needed.

[Sugarbabe47]

Thanks Fermi. Got your message *elsewhere*

And thanks. I am sooooooooo looking forward to doing the simple things like a weekly shop for myself Something I haven't done in a fair few months!!!! And to be able to put my heating on next week....oh and the joy of having electric.....A fortnight ago I was sat in the dark, with no food, no heating and at one point no hope...tut...but I AM A SURVIVOR:D

I even asked my O/R if I could take a P/T time job on say,either a Friday/Saturday night and she told me I could! without it affecting anything, so I can work extra to save for NEW things for ME:D:D(I asked, but I have the CHOICE to do this rather than HAVING TO!!!What a luxury)

 

OHHHHHHH....I am soooooo happy I could BURST...YEHAAAAAAA.....

Sorry caggers, but I really, really do feel better NOW:D

 

I will be around for ages yet - you aint getting rid of me that easily!!

 

Take care

Sugar x x :D

[tonycee]

 

 

 

Im Really Pleased For You.

[phat256]

hi sugarbabe glad it went well with you .. i remember the feeling before my interview i was so nervous i was expecting the worst 21 but actually it went very well.... enjoy your life debt free and knowing that all your debt are not yours anymore !

 

as i have said Before the hardest part is taking the plunge and taking the decision then it becomes a lot easier .

 

good luck sugarbabe

[Sugarbabe47]

Tony THANK YOU X X:D:D

 

Phat256 - thanks, means a lot. :DI have just had another call from O/R, she is not happy that my landlord wants to claim the court fees, and is writing to them about it- gets better by the hour, oh what a wonderful day this is turning out to be May even go home early to celebrate and have a good long sleep!!! Well deserved I'd say.

 

Sugar x x :D:D soz can't stop grinning!!!

[phat256]

i had the same problem with my ex -LL ,my OR told them well we have no IPA as we cannot afford it so they tell them where to go ...

 

 

now waiting impatiently for my early discharge ! and you may get one too if you are one of the lucky one ......

 

have a good rest u well deserved it after all you have been through i bet you are feelling like a ton has been lifted from your shoulder.

 

funny my OR is very nice but everytime i have to call them i feel like a naughty school kid who has to go to the headteacher ! lol

[1littleduck]

Fantastic news Sugarbabe...well done and good luck in the future..

I am going to do it after christmas myself so your thread really helps..

I have a question about my house, (if anyone knows the answer) ..I part own this with the B that i live with..there is about 60k each in equity once the morgage is paid off...now my part of the morgage is 300 p/m and a rent on a property is about 600 p/m...and i cant afford that..I earn 175 p/w and I have 2 children in uni and another at home...does anyone know if i would get a council house, or maybe.. be able to stay in my home and it not be sold or would they split up my children and put me in a hostel?

[1littleduck]

I would like to also add, that I know people who are considering bankrupcy believe they are the only ones in that kind of debt..as i did, but to my suprise, my daughter use to work in a building society (and yes i finially told my children) and she told me that they had 100's of bankrupt's on their books, and it shows up in bold red letters on the pc..and 1000's paying gregory pennington..so it goes to show we are no longer in the minority...and I live in a small town! ...lol

[brent100]

1littleduck - I'm a bit concerned by your thread.

 

Are you saying that you are planning to go bankrupt whilst you have £60k worth of your own equity in your house?

 

If so i strongly suspect the OR will have that. You could offer to buy the quity from him for say 10p in the pound and he may accept. If he does then why don't you just buy a little terraced house for about £50k outright?

 

I may have misunderstood you but it may be a bad move to declare bankruptcy whilst you are sitting on £60k

 

 

Regards

 

Brent

[1littleduck]

hi brent, no you are right, there is about 60k in it for me and i didnt know i could offer to buy it and even if he said yes to this, how could i afford it when you are not allowed to have debts.

The other person wants it sold coz he wants the money to start again he has bin to bank to get a bigger morgage but they wont give it to him as he is 55 now..it's not to bad for him as he has no kids, but i still have 3 although they are all over 19..so renting a property will cost me loads.

[1littleduck]

I owe 60k in debts as well so the equity will all go if i go bankrupt and i will have nothing!! I am fighting 2 cca at the min and these total 11k so if i win them the debt will be 50k.

[brent100]

Can you just clarify something for me?

 

Are you planning to declare yourself bankrupt after Christmas and do you have approx £60k equity in your house?

 

Also...what are your current debts?

 

Cheers

Brent

[brent100]

Hi

 

Yes - if you go bankrupt then your creditors will be paid but why do you want to go bankrupt when you have funds to clear your debts?

Why don't you offer your creditors 50% of the debt as a one off payment accepted as full & final settlement.

 

If you offer them either 50% or bankruptcy they might accept it.

 

I cannot see the benefit of you going bankrupt and having the issues on your credit file for 6 years that come with it when you don't have to.

 

If you do not declare bankruptcy and take your equity and clear your debts then yes you will end up with nothing but you will be debt free without having been declared bankrupt.

 

If you do declare bankruptcy the OR will take your equity to pay off your creditors which will still leave you with nothing but you will have all the issues that come with being bankrupt (which if you have nothing to begin with is worth the hassle).

 

The only thing you have up your sleeve is the fact you have a child at home. I am not sure how the OR will view this in relation to your creditors. You will need to seek professional advice from CAB or an insolvency practitioner. I would DEFINATLEY take this professional advice before you do anything.

 

Another thing - why do you have to sell your home? Tell your other half you are not selling

 

Regards

 

Brent