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Karen Jane
Starting Member
United Kingdom
42 Posts |
 Posted - 28 September 2009 : 13:32:24
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Hi All,
I was declared bankrupt on Friday in Brighton County Court, I have just received my first call from the OR, he was a very nice man, professional and quite friendly!! I was expecting to have to close my Co-Op Cashminder account but apparently the rules in Brighton changed last week, if the OR is not interested in your account it depends on the bank as to whether you can keep it or not! Which I am so pleased about!! He also said that he hadn't received my paperwork and it will take a couple of days for him to get it, and if my case is as straight forward as what I have told him, he may not require an interview!!!
I will keep posting with any developments and hope I may be able to help others who are in the process of/thinking about declaring themselves bankrupt.
Thank you for all the help I have received so far.
Karen x |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 28 September 2009 : 14:26:18
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Well done and great news about the COOP account, that will make things a lot easier for everyone.
Paul
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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totally lost
Junior Member
116 Posts |
Posted - 28 September 2009 : 15:34:16
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Hi Karen Jane
Well done! I am so pleased for you
I hope everything goes smoothly for you and please do keep posting as I too will have dealings with Brighton OR/Eastbourne OR office.
How wonderful that they sound like decent humans....altough I am still petrified!
I will also (thankfully) be guided through all this with the help of Reviva and just hope it will be done soon.Still desperately saving for help + BR.
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Karen Jane
Starting Member
United Kingdom
42 Posts |
Posted - 28 September 2009 : 17:10:31
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Hi Totally Lost,
I know how petrified you must be feeling, I too felt like you!!! I have carried the weight of my debt for approx 10 years now, I stopped paying the agreed with my creditors last October when my relationship ended with my sons dad I was in a very bad place, I told my parents the extent of my debt etc and they have been fantastic although I thought my dad was going to be not so good, he has never had credit except a mortgage, without their help, Pauls from Reviva and this forum, I probably would still have my head buried in the sand still.
I will keep you posted on any future developments but was very surprised on Friday by not having to see the Judge and today speaking with the OR.
Good luck and I hope its not too long before you are on your debt free journey!!
Take Care
Karen x |
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coops333
Starting Member
United Kingdom
4 Posts |
Posted - 28 September 2009 : 22:33:11
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Hi there - I am the new kid on the block, After meeting today with CAB Office I am now ready to start filling out the forms. Brighton County court will be the place where it all happens and I am new to these forums and any advise would be really helpful.
Its seems that the court part is ok, but the O.R bit is were I have a question mark,I cant find much information Income Payment Orders and Income Payment Agreements that the OR arranges. Does everyone get these? I just want to get the whole thing over and being in a position to save for my future? any idea or advise wold be great. I have a few other questions but thought I would make some contact first.
BIG thank you in advance for any help :0)
quote:
Originally posted by Karen Jane
Hi All,
I was declared bankrupt on Friday in Brighton County Court, I have just received my first call from the OR, he was a very nice man, professional and quite friendly!! I was expecting to have to close my Co-Op Cashminder account but apparently the rules in Brighton changed last week, if the OR is not interested in your account it depends on the bank as to whether you can keep it or not! Which I am so pleased about!! He also said that he hadn't received my paperwork and it will take a couple of days for him to get it, and if my case is as straight forward as what I have told him, he may not require an interview!!!
I will keep posting with any developments and hope I may be able to help others who are in the process of/thinking about declaring themselves bankrupt.
Thank you for all the help I have received so far.
Karen x
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 28 September 2009 : 23:47:13
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Hi
an income payment agreement ( IPA ) is the procedure by which you contribute towards the debts out of your disposable income for 3 years.
the Official Receiver takes a percentage ( between 50 and 70% ) of disposable incomeover the first £99 disposable.
it is a sliding scale so % increases with available £.
An Income Payment Order ( IPO ) is where you have failed to agree with the Official Receiver and he takes you to court to have a court ruling on the amount of contribution.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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coops333
Starting Member
United Kingdom
4 Posts |
Posted - 30 September 2009 : 21:12:18
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Hi Paul, thank you for replying to my earlier questions, your very good!I hope you dont mind me asking more questions if I may?
To summarise my case I am about 48k in debt all non prority debts (lucky for me!) About 28k in loans and overdraft to lloyds, 10k egg loan and a few credit cards. I may want to leave the country in a couple of years time and think that an IVA means you have to stay in the country for 5 years is this correct? aso do you hink bank ruptcy is the best option, i have done a lot of research and think that it might?
If I am living with my sister in her spare room, but have plans to move into new rented one bed flat (17th Oct) around the time I complete my bankruptcy forms (meeting with CAB office in Horshm to check forms before court meeting), will my bankruptcy be connected to any of the addresses, as I really do not want to put it on my sisters address or my new flat?
Also I have been trying to save up for a deposit will this be taking into account. Also it mentions that some bills and utility bills may be effected, but I will probably only be in the property for over a few weeks if things go to plan? does my landlord need to know?
Sorry another concern, my husband works in the middle east (not on the uk tax so wont be part of this process) we would be keen maybe in a years time to get a mortgage - he would be able to provide about £50k deposit (from selling one of his houses) but will i be able to go on the mortgage also? He is middle eatern so can he even get a mortgage, he will have a visa by then?
Big thank you in advance for your help
quote:
Originally posted by Reviva UK
Hi
an income payment agreement ( IPA ) is the procedure by which you contribute towards the debts out of your disposable income for 3 years.
the Official Receiver takes a percentage ( between 50 and 70% ) of disposable incomeover the first £99 disposable.
it is a sliding scale so % increases with available £.
An Income Payment Order ( IPO ) is where you have failed to agree with the Official Receiver and he takes you to court to have a court ruling on the amount of contribution.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions
zoejc |
Edited by - coops333 on 30 September 2009 21:14:16 |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 30 September 2009 : 21:21:33
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Hi coops333
Just a couple of brief thoughts.
Husband has houses, with equity, possibly supporting you at present? These are all things that have an impact on the bankruptcy process.
There may be a claim against your husbands estate if you petition for bankruptcy.
Re the other issues:-
1. Your sisters address needs to be shown on the Br forms and is likely to be in the part " lately residing at"
2. The OR may need to write to the new landlord
3. Bankruptcy may well be the right solution for you but you need to review the impact on your husbands estate very carefully first .
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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coops333
Starting Member
United Kingdom
4 Posts |
Posted - 30 September 2009 : 21:39:44
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Hi Paul
Thank you for your swift reply, my hubby does not have a UK visa, he works in the middle east and does not pay council tax, he has never formally lived in the UK - only with his visitor visa, th CAB office said that he would not need to be involved in this process. Am i right in thinking that we wont be conneted? we married last December.
If i did not want to invole my sisters address and be in the fear of the OR contacting my land lord, do you think a IVA would be better suited perhaps, if I did an IVA would it effect my sisters postcode and would my new land lord have to know then? If i go bankrupct and have to pay 50% of my disposable incopme - it will probably work out similar to paying an IVA for 5 years? would do you think I should do.
Thank you again you are very kind for helping
Coops333
zoejc |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 01 October 2009 : 00:33:45
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He does not need to be involoved in the process but you have to declare your marital status on the forms.
If he owned the investment property prior to marriage then this is not an issue expecially as from what you have said I suspect you haven't contributed to either their upkeep or initial purchase.
Landlord. If you go Br after you move then the OR will write to them. Possibly a copy of the rental agreement may mean they elect not to contact them
Regarding your sister. If you have only been there a couple of weeks the address is not a problem. If you have been resident there then the address needs to be used. However you can write to the credit reference agencies requesting a notice of disassociation . this effectively separates your financial affairs from others at the same address
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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First contact with Brighton OR Office
