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| T O P I C R E V I E W |
| Becs |
Posted - 10 February 2009 : 20:30:09
Hello!
Wow .... all done!
Arrived at county court this morning at 9.45am for 10.15 appointment.
Really unpleasant place.... would advise everyone to take someone with you, I nearly walked back out at one point, couldn't find a chair that wasn't stained!
But i digress ... at 10.15 on the dot I got called through to the clerk who went through the paperwork, confirmed a few details, I swore my oath, signed my name and paid over the money (the clerk was so mortified about taking all that cash from someone 'in my position' ... which was the first touch of 'human-ness' I'd encountered yet in that building!).
Anyway, I went and sat back down and waited to be called in to court before the judge. Now this was news to me, and I began to panic somewhat and got a wee bit tearful in the waiting room. I managed to pull myself togther and in no time at all was called into the court room.
And yes, it was a proper court room, but only the judge (no wig!!) sat in there. He asked me to sit down and asked me to confirm my name while he contiued to read through the SOA.
There was a brief moment when I expected to hear the immortal words 'Send her down .... for she is solely responsible for the financial devastation rattling the british economy ...'
I must have had a look of absolute horror on my face because he put the papers down, sighed and said 'you have made a very difficult decision coming here today, but it is absolutely the right one, well done'!!!!!!!!
I nearly fell off my chair with relief!
He also said that he had seen I had taken some good advice from reputable sources, and was satified that I had made my decision based on fact.
He then told me that on average they used to get around 240 bankruptcy cases a year (its a small town) ... but that since January this year they have already had 120. He said that there were traditionally 4 main reasons that people found themselves bankrupt;
1. Relationship breakdowns
2. Gambling
3. Health problems, and
4. Job loss
But that in recent months a more prevalent reason has been property de-valuation (negative equity) and high interest rate mortgage lending.
He then said that I could take comfort from the fact that I was not alone, and that I could also take some comfort from the fact that the mortgage company will take a far bigger hit than me ... and then he winked!!!!
Bless him, he was brilliant. He explained all about the OR process, he said he expected I was already getting calls from creditors from half 7 in the morning until half 10 at night (and he was right!) but that they would dry up pretty quick, he then asked me if i had any questions and then wished me the best of luck for my new life!
I could have kissed him!
I then floated back into the waiting room, within minutes got called to wait in a little side room and told when the phone rang to answer it, it would be the OR office and they would explain the next steps to me. It was so surreal!
Sure enough the phone rang, the person on the other end wasn't particularly friendly but polite enough, asked me a few questions such as did I have any assets, my active bank account details ... I asked her if it would be frozen she said to ring my bank and tell them I had been made bankrupt, that the OR would be in touch to confirm they had no interest in the account and as it is the Co-operative they would most likely keep the account active. She then said I needed money to live!
She told me that they would write to me with the date and time for a telphone interview with my OR, and that this may take up to an hour but could be less, but not to worry about the cost as they ring me.
She said I would get the letter within the next day or two.
She asked me if I had any questions and then said if I thought of any after the telephone call I could contact her on the number on the bankruptcy order.
I then went to the clerks office who gave me the bankruptcy order and pointed out the reference number to pass on to creditors if they should contact me in the interim.
And that was it!
I'm giddy with relief, although obviously a little bit freaked about the OR interview, but I guess what can;t be cured must be endured, and to be honest I def think thats the worst bit over ... and it was ABSOLUTELY fine just like EVERYBODY on here said it would be 
I am SO greatful for all the help and advice on this forum. I wouldn't have had the strength to proceed with the BR without it ... and just wish I'd done it years ago ... but hindsight is such a beautiful thing!
Will keep you posted on the OR ....
Thanks again
Becs |
| 11 L A T E S T R E P L I E S (Newest First) |
| Skippy |
Posted - 11 February 2009 : 21:28:11
I nearly legged it from court as well Becs! My OH and I had already had a row on the way over my map reading skills and he told me to get out and walk - until I pointed out it was my car!
I'll try and answer your questions:
With hindsight most of us should have realised that we needed to do something sooner than we did. I was in the same situation as you, juggling things to try to make the payments. I was told to expect a BRU by my IP (I was in an IVA at first) but I didn't get one. Obviously I can't guarantee that you won't get one, but I would think it's unlikely - we'd all have them for that reason!
If you were to get a BRU it means that you would be subject to the restrictions of BR for an extra 2-15 years, depending on the severity of the case. You would still be discharged after 12 months though.
If you get an IPA it will last for 36 months from the date of the first payment regardless of whether you get a BRU.
If you do get swept off your feet (and if you do can you get him to have a word with my OH!) you can ask for your IPA to be reassessed. In fact if there are any changes to your circumstances in the 36 months you must inform the OR.
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/
20 IPA payments made, 16 to go - on the home straight! |
| Becs |
Posted - 11 February 2009 : 18:39:29
Thanks again!
And thanks Melanie, when I was considering bolting from the court (brief moment of insanity .... although they're becoming more regular!) ... I just thought about your post the night before and it really helped me to calm down! So thank you TONNES!
Can I just ask a quick question re: the OR telephone call ? I'm a little concnerned that I will be deemed as spending irresponsibily when I knew I would be unable to repay, and looking at it now its pretty clear that I should have taken stock some time ago, however at the time I really thought I could repay it eventually and was just juggling things as best I could. So basically I think I will prob get one of those BRU's or whatever they are called.
Problem is I don't really understand what they are? And if I get an IPA will that continue for 15 years also? If my IPA (should I have one) not start for a few months does it automatically stop 36 months from the date it starts, or 36 months from the date of the BR? And, say for example that by some miracle some crazy young fool sweeps me off my feet and wants to start a family with me (ah, this BR lark really gets you dreaming about the future again!)can I alter the amount of the IPA to reflect my change in circumstances etc etc???
Thanks!
Becs |
| Melanie.n |
Posted - 11 February 2009 : 07:57:56
Well done Becs for not leaving before you went through with it! very daunting process but you will be so happy inthe long term that you have made the decision. Nice to see you had a more human 'judge'!
Onwards and upwards towards a debt free future. And don't worry about the OR interview it will be no where near as bad as you think - just a telephone chat
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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| givemestrength |
Posted - 11 February 2009 : 07:15:16
hi Becs, well done. you cheered me up with sharing your experience especially the bit about the court room and the british economy, good luck. |
| Becs |
Posted - 10 February 2009 : 23:45:27
Thanks everyone
Soz for the epic post .... I hadn't realised it was so long!
I'm absolutley exhausted! I think I've been running purely on adrenalin and fear ...... off to bed now for FINALLY a decent nights kip can't wait.
Goodnight!
Becs |
| pix1 |
Posted - 10 February 2009 : 22:58:49
good luck becs |
| debtrider |
Posted - 10 February 2009 : 21:56:58
Hi Becs
Thank you for sharing your experience with everyone.
You can now look forward to a debt free future.
Skippys interview must be one of the shortest at 23 minutes, mine lasted 2HRS.
debtrider
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| Niobe |
Posted - 10 February 2009 : 21:50:44
Well done Becs, glad it went ok for you.
Good luck for the future
The glimmer gets brighter all the time
Jan
xx |
| GUSS |
Posted - 10 February 2009 : 21:48:31
well done becs all the best for a happy debt
free future
take care guss |
| Skippy |
Posted - 10 February 2009 : 20:39:43
I'm glad it went well Becs, and thanks for posting your experience.
Good luck for the OR's interview. Mine lasted 23 minutes and was nowhere near as bad as I was expecting.
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/
20 IPA payments made, 16 to go - on the home straight! |
| movin on |
Posted - 10 February 2009 : 20:35:40
Becs
Im so pleased for you.....it certainly sounds like you got a judge with a sense of humour.
Your well on your way to that new life of yours and already feeling so much better i should imagine.
Again, congratulations !! enjoy the rest of your evening.
Hindsight is a wonderful thing
Jenny
xx |
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