Finaly Started to go Br,Petition help needed.

[Cappy1961]

Hi to the board, Apologies in advance for the long winded post.

 

Having had a look around the forum generally, it looks to be a very good and helpful wealth of information. Thankgod for websites like this and the very informed people that help on them!

 

If it's ok i'd like tell you of myself and my partners (Common law wife) predicament.

 

Back in Feb 2006 we had no choice but to apply to enter into a IVA aggreement or to go Bankrupt ( in hindsight BR was the choice we should have made considering our circumstances) due to our large unsecured debts consisting of Credit cards and personal loans etc (135k- over approx a ten year period) and a general and regular drop in my earnings. Sadly, credit use had slowly but surely become a way of life for us, paying credit with credit, etc, and ashamedly a classic case of burying one's head in the sand and foolishly hoping things could possibly change for the better.

 

We managed to pay the £750.00 per month IVA payments for approx 2 years, often going with out to ensure payment etc - again due to the lack of earning potentiol in my self employment ( Painting & Decorating subcontractor) due mostly IMPE to the massive influx of cheap imported labour generally in the construction industry ( which is still continuing) and the decline in house building and sales due to our current financial climate.

 

I became unemployed in July of last year ( i am still currently unemployed but actively seeking work) and we could no longer afford any realistic payments to the IVA so in the end we simply defaulted, the IVA company held a creditors meeting and suggested BR but the creditors declined (no suprise there).

 

Our creditors did not pursue us for 3 or 4 months, but slowly but surely they all got intouch and all i could do was tell them it was impossible to make any realistic payments due to the fact our outgoings outweighed our income ( My wife is in full time employment- I am currently on jobseekers but do not and never have received any benefit whatsoever due to my partners earnings, we are "just" above the benefits threshold).

 

We have been making token payments of £1.00 for each creditor with the understanding that when i find employment i would increase these to a more realistic amount.

The only reason i have been able to pay this and our other living expenses is because both mine and my partners family have been giving us regular handouts.

 

Now, after much thought and disscussion we now realise that BR is the only viable route, and a short meeting with the CAB confirmed this too.

I would like to add at this point that we are, and always have been in rented accomadation and we have no assets as such. I no longer own a car due to the fact we could not afford to run two, my wife does have a car which is only worth about 1k which she needs for work.

My Parents have given us the funding for the BR and today i have just started filling in the online petion forms for my self and already i have come across a stumbling block!

 

This will be the first of many questions i will be asking the board( Apologys)

In the employment section of the petition it asks details of self employment, but appears to assume that i have actually run a "buisness", it asks about company names and work premises etc, when i started the business and when it ended. I personaly have aways just been a self employed painting and decorating subcontractor, a sole trader working in my own name and from home, and paying tax via the CIS card for various main contractors. There does not appear to be a section where i can explain this - Any tips or advice as what i should actually write here??.

 

 

Thankyou to all who have taken the time to read this, and for any replys.

[Dodgy Geezer]

Hi Cappy1961.

 

Bankruptcy is a very personal decision, and not one that be adviced on either way, however, having read your thread, i think you have already made your mind up, and i agree with you that BR is your best option.

 

In answer to your question, just reply as honestly as you can.

 

Give start and finish date of S/E, put not applicable against company names, and work from home as business premises.

 

Good Luck on your journey. You wont regret it.

[debtinfo]

Hi, i agree with dodgy, just apply the questions to your situation. If need be you have a free text paragraph at the end (section 11 or 13) where you can explain anything you put down. As a rule of thumb the more information you give the quicker your case goes.

 

BTW feel free to ask any questions you come across, I dont do advice (such as should i go bankrupt) but do do info (such as what does this question mean) and i am usually on here at least once per day.

[Cappy1961]

Thanks for your replys Dodgy Geezer & Debtinfo - Much appreicated. Will do as suggested .

 

I am taking my time doing both mine and my wifes petitions to try and make sure i get them spot on.

 

I Will keep the board informed as of our progress.

[Cappy1961]

well i've more or less finished my wifes BR petiton ( Hers is more straight forward RE employment.)

 

Could some one tell me how many copys of the petition i will need to print off - Also, will i need to take any other forms etc to the court?.

 

Thanks Again.

Edited July 29, 2009 by Cappy1961
typo

[debtinfo]

Some courts want three, some only one and they copy it. You need the SOA, the petition and the £510 for the court and OR Fee.

 

If you have any other questions feel free to ask

Edited July 29, 2009 by debtinfo
can't type

[GeorgeNash1850]

Make sure you have about 4 copies. Not all courts have photocopying facilities and you will need a copy yourself to help you fill in the OR questionnaire - which asks for all the same information in a different order.

[newstartwanted]

Hi, To all, I only found this site two days ago and its given me the courage to finally go down the bankruptcy road. I find myself in a similar situation to yours with the added pleasure of a property abroad which I have not paid the morgage for 18 months, It's not been repossesed and I have to admit I've been guilty of burying my head in the sand !

I lost my business and home last year and only now feel strong enough to look to the future. I was crying my eyes out talking to the community legal advice people and have a stinking headache as I'm writting this but I have also made an appointment to see the doctor this afternoon as I know I'm going to need some support to get through this !

I intend to visit this site often and maybe post my experience as I go.

One day at a time we will travel this rocky road.

Best of luck

[saintly_1]

If you start a new thread in this section of the forum then you can recieve help that is targeted just for you

 

 

saint