| T O P I C R E V I E W |
| antp |
Posted - 07 November 2008 : 19:01:45
Today I found out that I have been given early discharge from bankruptcy after just over 5 months.
On the news today I saw that insolvency numbers are going through the roof.
I fear I got out just at the right time, albeit in my opinion I should have done it 6 months earlier instead of trying to hang on. I say "fear" as for anyone else contemplating doing it, if you have got the advice and it suits you then don't mess about, go bankrupt - it's not the end of the world. My instincts are that they will change the rules if it carries on at this rate. In May of this year a law was passed that anyone carrying out business activity on a personal credit card will have broken the law, this must have been down to pressure from the banks. As this applied to me ( My BR was just before this law was passed) i feel almost sure that there will be further tightening of the rules involving personal bankruptcy.
Anyone reading this that is unsure about bankruptcy and any new rules then my advice is GET ADVICE BEFORE YOU DO, or research it as much as you possibly can for your personal circumstances.
I'm not trying to put anyone off, far from it, if BR is the best way then do it, i'm glad I did. My point is that the worst that can happen is a BRO/BRU and that would be much better than trying to pay it back and struggling along for those long 6 months that I did before I eventually decided to do it.
My fear is that it might not be so easy if you leave it too long - pressure from banks has made sure of that.
Good luck to everyone on here - whatever you decide to do. |
| 13 L A T E S T R E P L I E S (Newest First) |
| Skippy |
Posted - 08 November 2008 : 15:38:32
I've had a look online and I can't find anything about a law change in May this year, so it'll be interesting to see if any of the experts know anything about this.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
| Needafriend |
Posted - 08 November 2008 : 13:03:39
Hi Folks
We are all here to add our input and our own experiences so that others can understand more and get advice where needed for free and to help them through.
If something is out of sorts and the replies are not what is expected then any queries should be sent to admin, not any moderators as admin oversee this site, not myself.
Anyhow all sorts of questions come up on here some to do with BR some not, its a great place to also meet and chat not just about the fact we are all joining the same club so to speak.
All input is greatly received and i think we should have more of it, but we could do with a thread just for discussions so that we can all debate and put our other views across.
Have a great weekend, oh and Gally no offence taken, i have only just read your reply and its one of those things that if you are concerned with the topics on here then it should be directed to admin to get them to sort out.
antp-
Is there any chance that you can give a link or more info on this new law that you have heard about, i am curious too and i dare say its got others worrying now and i have not seen or heard anything about this and we would all like to know how it works etc.
Cheers
LOL
Jo
Your Forum Moderator
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| tracy_b |
Posted - 08 November 2008 : 12:18:43
Hi Gally,
Thats the trouble with the written word, you never know quite how things are meant!!!
Apologies from my side, i wouldn't dream of offending anyone-exept my creditors of course. You are quite right though, more and more people are finding themselves in our situation currently 305approx BRs a week and we do need up to date info and facts.
Take care
Tracy XX |
| gally |
Posted - 08 November 2008 : 11:56:51
quote:
Originally posted by tracy_b
Sorry, but also meant to say that Jo gives her time freely to assist.
last thing i want to do is slagg this site off it has been and will remain to be a great help if you read what i was saying i was trying to reiterate the need to use the site for facts as you are no doubt aware in financial dire circumstances chinese whispers and scare mongering excaserbates an already difficult time please accept my apology Jo if you can it was never my intention of singling anyone out inparticular and keep up the good work |
| tracy_b |
Posted - 08 November 2008 : 11:39:34
Sorry, but also meant to say that Jo gives her time freely to assist. |
| tracy_b |
Posted - 08 November 2008 : 11:38:04
Hi antp,
Congrats on the ED. What welcome news! Enjoy your weekend.
Gally, Not too sure what your gripe is but if you have been reading on this site for the last 6 months or so, then you will know that Jo provides valuable support to everyone, and although an expert on here she is not a professional BR specialist. I do agree that the information regarding BUSINESS ON PERSONAL CREDIT CARDS needs looking into so that help and advice given will be up to date, however to start slagging off this site really isn't on!
Tracy XX |
| gally |
Posted - 08 November 2008 : 10:56:23
i am sorry but this site should really only be used to advise each other and to help others who are under extreme pressure in the predicament that they find themselves in be it there own fault or through unforseen circumstance`s . i went BR 2 months ago and have been reading this site for the last 6 months or so and i appreciate all the advise given but when moderators start allowing disinformation such as A LAW WAS PASSED IN MAY REF CREDIT CARDS AND BUSINESS without correcting such statements i feel all credibility on this site will be lost and in the current climate this is not something that should be allowed to happen as more and more people will soon find themselves needing this facility |
| go_4_broke |
Posted - 08 November 2008 : 09:48:28
Hi Antp
I am interested in finding out more about this law in respect of business activity on personal credit cards.
Any further info you have on this would be great.
Thanks, Simon
'Bankruptcy - an elephant from the front - a mouse from the back' |
| Needafriend |
Posted - 07 November 2008 : 21:01:05
And you keep on posting and adding in your experience, this is what the site needs those that have been there done that, we are all a big family and need each other and i think that by sharing our experiences on here is a great help to all.
You take care. And thank you for all your input.
Onwards and upwards and now your well on your way in your new debtfree life. :-)
Jo
Your Forum Moderator
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| antp |
Posted - 07 November 2008 : 20:53:48
thanks for that, it is appreciated, keep on with the words of wisdom, it is helpful indeed. |
| Needafriend |
Posted - 07 November 2008 : 20:43:51
Hi antp
That is great news, a very big well done from me too and i also want to thank you for your words.
I know that i too wish i had not waited and done it sooner, but like most of us i think its the stigma attached to it that makes you think about it rather than do it.
Like you also i am so glad that i did go BR and for me i know it was the best thing i could have done.
Take care and have a great weekend. :-)
Jo
Your Forum Moderator
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| antp |
Posted - 07 November 2008 : 20:18:28
Hi, i actually found out on the online service, am away from home and have not seen any mail yet.
Thanks and good luck. |
| BankruptC |
Posted - 07 November 2008 : 19:23:44
Hi antp,
I just wanted to say huge congrats on your early discharge! How great! :-)
Just in time for the weekend too-relax and celebrate with a large glass of something!
C. x |
