Heading into bankruptcy

[StinkyFeet]

Many Thanks Hazel, your words are helping to pick me up off the floor at the moment and this headache has become a permanent burden. Will keep you posted how it all goes, luckily I havent got to be there as the process is being done by my IP for a failed IVA that I couldn't afford anymore when I got to year 3.

 

Thanks again

[boston3603]

Hey...Stinkyfeet...Thinking about you!!!!!!!!!!!!!!

 

ALL THE BEST

 

HAZEL

[Sugarbabe47]

:DHey Hazel

 

Told ya!!! The decision to go B/R is the longest and hardest but the process is easy and not as bad as we are led to believe! Good for you and now relax and look after YOU now!

 

Hey StinkyFeet:) - You will be ok, its not as bad as we think it is going to be. I was declared B/R in November and if you follow my thread it was the hardest thing for me to do, very emotional. My *headache* which I had for over 6 years was cleared this year, it is only still sinking in that I don't get any phone calls or even post these days!!! Bliss!!!

Am thinking about you and best of luck. If you need owt just holla!

 

Take care

 

Sugar x x x:D

[geministar2007]

Hello Boston! Well done. I know exactly how you feel. I have felt the same happy, in shock, did i dream it, wanting to cry!

 

I had my OR interview today and wasnt as bad as i thought was over and done with within half and hour and the lady was nice and human!

 

It is nice to know a fresh start is ahead and i can start from scratch with money!

 

Take care all of you. I will be a frequent visitor on here still!!!!

[StinkyFeet]

Thank you sincerely, unfortunately my headache hasn't gone away yet as I have not heard a thing. Being a a IVA moving towards BR dont know if this had anything to do with it but ziltch.

AM hanging like a thread, checking insolvency register, waiting for phone to ring, checking if my bank account is still open and nothing has happened. Lost, the knowledge of not knowing what is happening is ermmm worse I think. I keep thinking no news is good news, but with 10 years of pure hell battling to keep roof over our head, working full time + extra shifts etc coming to at times 90 hours a week, I dont know.

 

Cant thank you all enough

[boston3603]

OOOOh.....do you have ANY idea whats likely to happen? Is there anyone you can contact? I ask because the waiting around is an almighty killer and you have been through so much.

Someone cleraly knows the routine and should be telling you, not letting you fret more. I am sorry for you as I have been thinking about you. Just a snippet of info will boost you a little I am sure. Please tell when you are more aware of the situation. Sending you a huge hug poppet.

 

Sugarbabe.......you were, of course right. I do wish I had gone BR earlier but I dont think I was ready to resign myself to the inevitable. This is going to take some getting used to as my brain is trying to behave the way it always has proir to BR and I have to keep telling it- its o.k. Thank you again. Please keep in touch,

 

With love

 

Hazelxxxxxxxxxxxxxxxx AM I ALLOWED TO BE A LITTLE SMUG NOW?:grin:

[StinkyFeet]

Big thank you Hazel, your support has been great.

My problems started in 1999 when my wife and I were expecting our daughter, my wife had a terrible pregnancy and was in and out of hostpital frequently, when my daughter was born my wife still struggled and took ages for her to get back on her feet, my daughter was ill and had to go into baby unit due to septacemea. During this time and with the loss of second income, things became hard juggling work, hostpitals etc.

I then was involved in a nasty car accident in 2002 when I moved out the way to avoid a deer making the car flip over. While off work I got my 'bye bye letter' from my employer. To cut a long story short we moved in with my father as I couldn't keep up the payments etc on our home so this would allow me to concentrate on paying off my borrowings. Later that year my fathers factory closed and relocated so the struggle continued.

We decided to move and set up our own little cafe on lease / rent. Unofrtunately further kicks in the teeth where on the horizon when members off staff emptied everything from the shop over a 2 week period, float, stock and takings. With nothing in the bank as the business was early days and just covering costs at the time. Had video evidence off this but to actually prosecute would have just cost further funds.

This is where the IVA came in 2005. Ive actually paid into this for over 2 and half years but with the way the country has become and costs going up couldn't keep payments up and asked IP for help frequently, he was never helpful and everything I offered or suggested got thrown down the drain. I held my hands up last year and said I was all out of ideas hence the BR petition which I received just before xmas.

Is frustrating that ive always done my best to avoid the BR route and paid into a IVA at a massive £800 monthly rate to still end up like this.

He has seeked to be trustee in BR which was to take place yesterday.

No news regarding it, im basically shaking, cold and fretting as im totally in the dark with it all.

[boston3603]

Hey all. Hope you are well.

As you are aware, we were declared BR on the 15 January. Not heard from the OR as yet but no doubt, it will be soon.

I got a letter from Capital One today saying " we have been advised there is a bankrutcy order petition against you". Further action intended by the bank--

to terminate the agreement.

to submit a claim to the OR or trustee in BR in respect aof all money due.

 

No money is required to be paid under this notice.

 

Threatening court proceedings etc.

 

SORRY....AM I DENSE? We are already BR AT OUR OWN REQUEST.

 

ANy advice as hubby has just started a big row about this, just when I was getting used to having no worries.

 

Many thanks

 

Hazel:-x:-x:-x

[boston3603]

Sent letters out to all creditors 2 days ago with copies of BR reference.

[gizmo111]

A friend of mine just had one from Capital One exactly the same a couple of weeks ago, AFAIK it is in case for any reason you get the BR set aside/annuled you still owe the money. The debts arent wiped until discharge. It's nothing to worry about just standard confetti.

Watch out for defaults after the date of BR on your CRA file.

[boston3603]

Oooooomygod. Thank you for the reply. So I can ignore this?

[gizmo111]

Oooooomygod. Thank you for the reply. So I can ignore this?

 

 

Yep - take loads of NO notice.

[boston3603]

ok....night,night and thank you Gizmo:p

[StinkyFeet]

Hiya Hazel, Yep same here but I not took any notice to anything I get, thinking bout fitting a shredder on the letter box

[palomino]

As you are aware, we were declared BR on the 15 January. Not heard from the OR as yet but no doubt, it will be soon.

I got a letter from Capital One today saying " we have been advised there is a bankrutcy order petition against you". Further action intended by the bank--

to terminate the agreement.

to submit a claim to the OR or trustee in BR in respect aof all money due.

 

No money is required to be paid under this notice.

 

Threatening court proceedings etc.

 

SORRY....AM I DENSE? We are already BR AT OUR OWN REQUEST.

 

ANy advice as hubby has just started a big row about this, just when I was getting used to having no worries.

 

 

You are completely misinterpreting the letter - at tleast the part you have quoted.

They are acknowledging that they know you are now bankrupt and are simply advising what they are going to do next, none of which is new or unexpected.

 

Can you post the text where you say there are threats of court proceedings.

 

There is no point in trying to start a row. Firstly this letter is probably computer-generated, and secondly they might have threatened something but they aren't actually doing anything at the moment. There isn't anything much they can except where, as has been pointed out above, your bankruptcy is annulled.

Go and have a cup of tea (or something stronger) and get on with your post-BR life. This is now behind you and any dealings must be with the OR.

[boston3603]

Hi all.

 

I have had a thought . On talking to a debt chaser for Studio, I recently explained we are BR and gave the ref number. He said the debt would be wiped off because it is in affect unenforceable. HIS WORDS. My question is, do I request copies of non existant agreements from my other creditors or will the OR do this. Do I tell the OR i have been told I dont owe Studio anything or will the OR already know many debts are not enforceable. This is all news to me. I only have one signed credit agreement, signed by all parties and the other 13 do not exist then??? I am just thinking if this is so, then I owe 14.000 and not 43.000. You can call me thick...I dont mind. But if I dont ask, I dont find out!!!

[gizmo111]

it doesn't matter if they are enforceable or not you still owed the money. The OR will not care if they are enforceable it will make no difference they will be written off in the BR proceedings.

[boston3603]

Thats what I thought. I hear so many conflicting views I get lost.

I am, at the moment wondering how much, if any, money the OR might have. Any ideas ? I swear I saw a guide here somewhere but I 'll be blown if I can find it.

Not heard from the OR yet and its been 11 days.

[gizmo111]

I am, at the moment wondering how much, if any, money the OR might have.

 

What do you mean? Whose money?

[palomino]

Forget about agreements at this point in proceedings. If the debts are going to be written off in the bankruptcy then who cares whether it's enforceable or not.

 

Save your time, energy and money on more productive things. Put all this behind you.

Edited February 2, 2009 by palomino

[boston3603]

OK.

In reply to the other question, sorry, I meant any surplus, if any, after monthly expendature. Also hubby works so could tax be affected.

I know I dont need to worry. I am just so used to doing it!!!!!

With regards

 

Hazel

[boston3603]

Hey all.

Just a brief one. I am BR now and have a query. Went online yesterday to to take a peeky at my account to be told " due to your account status you are unable to access your account". I called Barclays and told them, asked them if my account has been frozen ( they already said it wouldnt be), and they said all is well, my account is open and running.

Tried accerssing my online details to see the same notice.

 

What is this? As ia m sure I read months ago that permission to access online banking wouild be denied whist BR is going through. No online maintenance so any clues??

 

Much obliged.

 

Life after BR is fab, even if it is taking some getting used to not having bills and creditors to pay!!

 

Lotsaluv

 

Hazelxxxxxxxxxx

[boston3603]

Should point out that I have used my card today!!!!!!!!!!!!!!!!!!!!!

[boston3603]

Hey all. I hope you are ok.

Not posted here for a while but still following.

Life after BR is ok. I say ok because I am still getting used to it. BR on 15 Jan. I still cant relax until the postmans been! I still get agitated about money but its only because I am adament I will never NOT have any again. Rarely use a card to pay for anything and feeling money is good as opposed to plastic. If we need something, we can get it, if something breaks we can fix it. Life has a much slower pace now and I take so much more in. I no longer chase my own tail, I think about me more which I have never done. I am doing my teacher training in september...gulp...I think I have discovered myself. I am happier out of the house than in now. I dont wear black!! I make my kids do more for themselves and have toughened up on them. I refuse to let my hubby play useless and he has more responibilities now whether he likes it or not! My house is clear of clutter. I go for walks, watched birds fledge from the nesting boxes in the garden. Did some boot sales to get rid of clutter and made enough cash to buy a secondhand car to get me to college. Sold my old car for money to pay for college. OR is fine with this. Had enough left to pay deposit on cheap break in august down in devon. Made and sold enough decoupage and prick and stitch cards to take 400 with us. WILL BE TOO SCARED TO SPEND IT THOUGH. OR dosnt know about this. Hey...I am not totally stupid. Months of being on suicide watch, we deserve a break. Recyling loads. Sold my little boys small clothes toys and shoes to buy new uniform and shoes for back to school in september. Am still seeing my psychiatrist. Still awaiting my inheritance so I can pay my debts, then buy my house. But I am not THAT bothered now I know I dont need to rely on it.

I am luckier than some as I have come through without losing my home. My husband works despite the recession. WE ARE LIVING and not just existing from one credit card to the other. Still fighting the depression but feel like I am starting to win the war after many years of misery.

Life is ok and I nver thought I'd say that.

 

Take care

 

Hazel:-)

[Dodgy Geezer]

Hazel and family.

 

I am so pleased for you.

 

Bankruptcy can be a very traumatic experience, but nothing compared to the trauma of debt.

 

I would recommend BR to anybody, albeit as a last resort.

 

Good luck with the depression, there is HELP for that to you know.

 

You take care to.

 

Best Wishes to you and yours.