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| T O P I C R E V I E W |
| movin on |
Posted - 24 September 2008 : 13:48:57
Hi all...well i finally booked the date for my br - its monday 13 October, feels like ages away but i suppose it will give me time to prepare and gather all 'evidence' together. i did get off the phone and cried - god knows what im going to be like on the day.
1 - will my husband definitely be asked to buy the bi of the house (even though its in negative equity). If so, how soon will he get a lettr?
2 - what actually happens in court on the day, and how long will i be there for
3 - my mind has gone blank again, so ill have to post later !!
The weights are coming off my shoulders very slowly, but making such a big diference !! |
| 5 L A T E S T R E P L I E S (Newest First) |
| movin on |
Posted - 24 September 2008 : 17:20:40
Just out of interest....say the property market shot up before i got discharged, then how much would this cost my hubby?
e.g. mortgage outstanding is 172K and we got 180K if we sold it
The weights are coming off my shoulders very slowly, but making such a big diference !! |
| JulianDonnelly |
Posted - 24 September 2008 : 17:08:32
Hi Moneyworries,
Anyone who you nominate can buy the BI for £1 + costs (£211) as the property is in negative equity.
Don't worry as the OR will discuss this with you at the interview. They definitely won't try and force the sale, so just take things one day at a time and you'll be fine!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| movin on |
Posted - 24 September 2008 : 17:04:51
BC...thank you very much for sharing that with me. It has certainly give me an insight as to what to expect on the day.
Hubby is not going br, so will buy the BI - will they automatically contact him, as he is joint owner?
The weights are coming off my shoulders very slowly, but making such a big diference !! |
| BankruptC |
Posted - 24 September 2008 : 14:22:19
Oh and re. the BI, if your house is in negative equity and you plan to keep it and continue to pay the mortgage etc, your hubby ( if he's not going BR too, or whoever you nominate) will be offered to buy the BI for £1 plus £211 fees. I'm not sure of the timescale for that though.
C. x |
| BankruptC |
Posted - 24 September 2008 : 14:18:11
Hi moneyworries,
Try not to panic, hon, although I know it's easier said than done. I went BR on 10th Sept and court was ABSOLUTELY FINE!! Honestly, it really was NOTHING to worry about at all, and I don't know anyone who's had a negative experience at court. Here's our experience:
We arrived at 9:30. Our court is a 'turn up and wait' court, so we had no appoitment, but were asked to be there before 10am. We waited a while, along with another couple and 3 or 4 other people, until the clerk came out to ask how many people were waiting with BR petitions and we all put our hands up (this was a tad embarrassing but as we were all in the same boat, it was ok!).
The couple who had arrived just before us went through first, and we could see that they sat at a desk with the clerk in the corner of a very large office. We waited around 10 mins and they came out and we went in. The clerk went through our forms and we had to sign, and swear an oath. The clerk was professional and polite and answered some specific questions we had. We then went back to wait outside for another 20 mins or so till she came out and asked us to follow her upstairs to the court area. We did so and they had to check our bags before we went through. The clerk took our petitions to the usher and we sat and waited (again!). After another 20 mins or so (and a couple of vile coffees from the machine!), our name was called and we had to go up to the usher's booth type thing. She just handed us our papers and told us to go back downstairs! We had been told we might have to see the judge, but that sometimes he just grants the Order without having to see the people petitioning. So we didn't have to see him! We went back downstairs and waited quite a while this time as the clerk was still dealig with the other people we'd been waiting with earlier. I opened the folder we'd been given and saw the judge had granted hubby's and my order at 10:50 and 10:55 respectively. After the longish wait, we were asked back into the office, where we sat at the same desk as earlier, with the same clerk. She looked at our papers and confirmed that our orders had been made and then she called the OR's office for us. We each spoke to the lady in turn, giving our name, address, occupation details etc and asking some questions about our bank accounts, could we still use them (co-op cashminder accounts opened just prior to BR), and would I be able to access my salary which was due to be paid in a week later. The lady on the phone was lovely and answered yes to both questions. She then asked us about any assets we had put on our forms and told us we'd hear from them within 14 days. And that was it!! We were out having a celebratory Mcdonald's by 12:15!
There REALLY was nothing to it.
Hope that helps a bit hon. Please try not to worry, cos I'm sure your day will be just as painless as mine.
Take care and keep posting!
C. x |
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