09 Mar 2015

A question about : Bankrupt today

So i was made bankrupt today, not really feeling any relief just yet!! Suppose i will after the or call.
Now home watching deal or no deal couples on demand which we got through to final round for but didnt make the show title=Frown thinking we if did might not be in bankruptcy today, big what if!! Reconise 5 couples on it though one was in our group so hope they all do well, slightly jealous though i must admit!! Haha

Best answers:

  • Aw, what a bummer! Anyhoo - there but for the grace of a failed lottery win go us all.
    You will feel relief - you can't help but do so after a period of stressful debt. It will come. In the meantime. Put your feet up, have a good cry if you need to. but know that ALL WILL PASS.
    Hugs to you.
  • Just remember, all the previous debts are no longer your problem?
    So, after your session in Court, you didn't go out for a nice coffee and cream cake, then?
    Now is the time to start afresh, and get on with your life...
  • Glad you got sorted! I didn't feel any real relief until a couple of months afterwards, to be honest.
    I had a few phone calls from creditors but I just gave them my BR number, they checked it and then left me alone. I think it sunk in after a couple of months once the phone & post went quiet!
    The year has gone by quite quickly, I'm just waiting the last few weeks until discharge now. 4 weeks 6 days..... who's counting lol :-)
  • Thanks guys, and especially to those who have helped me over last week or so, Aliastariq, Gardner and Owlet. Yor support and advice has been a huge help.
    I know it may seem like i did it quickly but it seemed pointless delaying the inevitable. I know I will feel the relief once the OR call has been done nice feeling though getting home to the post and just throwing it on the side thinking have no worries about that now!!
    No coffee or cream cake celebrations but did have dominoes for dinner! lol x
  • sorry I also should have mentioned Tigerfeet in that thank you post x
  • How much did you owe ?
    I'm in a nosey mood.
    Shame you never got on deal or no deal although saying that the average person that goes on the show seems to walk away with less than 10k
    I got more than that in me sock draw
  • Any relief comes at different stages for different people. In the end if it was the right thing to do then you will get there, believe me.
  • Well done for being strong and doing what needed doing even though it was a difficult thing to do.
    All the best for the future ahead of you, you are seeing the light at the end of the tunnel and it isn't a train.
  • So now you are officially bankrupt, how do you get by on day to day basis when it comes to money for buying food, etc?
  • In response to the above, I would imagine day-to-day living expenditure would not change, from pre-BR to post-BR.
    Income will not change.
    The only difference is, any previous attempts to make payments to creditors would have ceased..preferably long ago.
    Without the prospect of debt hanging over one's head, then there should be no problems with day-to-day living expenditure....
    WHen BR, one's income [or, the part necessary to meet one's day-to-day expenditure] is not taken off one by the OR....unless, or until, such time as a surplus of income is identified, and an IPA agreed.
  • I owed over Ј25,000 unfortunetly Nicholas
    Maninthestreet, my day to day living etc as alastariq says will remain the same just less the humungous bills I had been paying up until January. I have reset up all essential direct debits today to my new account, so it just means learning to make sure I budget more now as I dont have the secruity blanket of credit or overdraught.
    OR initially called yesterday to arrange telephone interview and has given permission for me to acsess my money for everyday living.
  • Hi....open a separate account to pay bills & DD's, etc from.
    WHen income hits the first account, simply transfer sufficient to meet the bills, etc, into the 2nd account.
    Thus, whatever is left in the first account can be set aside for normal day-to-day living expenditure..without fear of not leaving sufficient funds to meet DD's, etc.
    WHatever is left at the end of an 'income period' can be set aside somewhere else, even, for those 'sudden emergencies', or for those expenses that could not be met from within the SOA?
  • but the only BR friendly banks are barclays and coop arent they? i dont have coop near us and assume carclays wont allow me to open another account? x
  • There is no reason why Barclays would not allow you to open another basic bank account [or two]...
    There is no restriction on the number of [basic] bank accounts one can have.
    Either from the BAnkruptcy point of view, or from the bank's.
    In fact, it is standard advice from banks and debt advisors, to have at least two accounts, for budgeting purposes.
    Since Undischarged BRs are denied internet access by BArclays, it is a sound argument for them opening a second account for you.
    [Co-op have a special section on their website, for those on a restricted income, about budgeting..and the above is what they advise too.]
    Go into Barclays, speak to an advisor, explain what you want the 2nd account for, and open it...makes budgeting a lot simpler, with more peace of mind.
  • There shouldn't be any restrictions on a standard current account?
    It's must have been difficult for you but it sounds like you're working through it! Plus you appear to have a positive state of mind, which is always good. Enjoy your Dominoes, that stuff is addictive.
  • Been a emotional wreck these last few days and had bad anxiety attacks which I never normally get, think its all taking its toll on me now, I just really need the whole process out of the way. How long does it normally take for OR to deal with cases?
  • Hi Mummy George, try and relax a bit. Honestly, the worst part is filling out the forms! You are BR now and nothing will change that. The debts are gone.
    The OR normally does the interview in the first few weeks then after that you may well not hear anything more from him/her unless your case is more complex or there is property/assets involved.
    I only had the telephone interview then a letter about 8 monthss later to say he was looking at being released from my case.
    Don't worry unnecessarily, just carry on with life :-)
  • Hi, I do understand how you are feeling, I was just the same.
    I had a face to face interview as I had properties involved, the examiner was really helpful and juggled some figures around so no I.P.A.
    To be honest tho I did not relax until I was discharged, we are all different.
    Try to get on with your life..everything else will drop into place.x
  • As Luvchocolate, and owlet say, time to enjoy the new start?
    The worst that can happen is, you win the lottery before Automatic Discharge..
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