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| T O P I C R E V I E W |
| RandomGuy |
Posted - 24 July 2011 : 02:10:13
OK, so my life is a bit of a mess, which on Friday I made the first steps at turning it around.
I think my case is a bit unique, as I have been literally crippled by the debt to the extent I have suffered quite severe depression. I don't think I knew it at the time, but in hindsight it kinda feels that way.
Anyway, late 2007 I got divorced. Had a fair amount of debt, but could pay it. I think my depression started around that time with job pressures, and the divorce. I left my job for self employment in early 2008. Business was going well until injury made it collapse. Causing more depression, especially as I had spent alot of effort and a couple of thousand on stuff to get it up and running (no major expenditure really). Anyway, by the end of 2008 realising things weren't working out I went on job seekers for 6 months, until failing to get a job i decided to do a course. This didn't work out due to depression, and I have literally been housebound since not working.
At the same time, now living with my mother, I stopped spending anything as soon my business failed, apart from the cost of the course of around £400. The rest of the job seekers stayed in an account that i didn't owe any money to, and a few hundred in cash which I didn't touch. Anyway, for around 2.5 years I have spent nothing, and had no income. I literally just ate what my mother put on the table to eat, and became housebound.
I am worried, as I don't seem to fit in the usual mould of what you guys have experienced, having incomes etc, and it was a long time before knowing i couldn't pay my bills until i finally have done something about it. I think my only comfort when i get interviewed by the OR next week is that I did completely stop spending all those 2.5 years ago, and this will show in my records. All my accounts that were in debt were closed several years ago, and I just have debt collection letters now regarding them all.
I don't have any bank statements, or decent business records for the business I ran for those 6 months (although I have lots of receipts and the bank statements will show a fairly complete picture).
Because the debts that led to the bankruptcy occured several years ago, will the OR also go back that far, and if so will my lack of records hinder things? |
| 15 L A T E S T R E P L I E S (Newest First) |
| Niobe |
Posted - 11 February 2012 : 11:09:01
Excellent news Random Guy - good luck for the future.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| glafy |
Posted - 10 February 2012 : 09:10:41
Great news for you RandomGuy.
Really Pleased
"Life isn't about waiting for the storm to pass...
It's about learning to dance in the rain." |
| Viki.W |
Posted - 09 February 2012 : 10:35:07
Congratulation, great news.
Here is the link:
http://forums.moneysavingexpert.com/showthread.php?t=677875
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| RandomGuy |
Posted - 09 February 2012 : 10:24:30
Woohoo!
Just found out this morning that I was discharged on the 7th February.
Now to do the credit clearing thingy. :looks for link:
Thank you to everyone on this forum,... it helped me so much in those early days. |
| Skippy |
Posted - 28 October 2011 : 20:59:43
Make sure you're ready before you go ahead with your business - my OH is self employed and although his business has worked there are things he wishes he'd done differently. Hindsight is a wonderful thing!
Good luck x
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
| RandomGuy |
Posted - 28 October 2011 : 20:37:20
Thanks. Training is going well, should be ready to start my business next spring \ summer with a bit of luck.
To be honest, the thought of early discharge is a bit nerve wracking... Without wanting to sound lazy, I had planned on continuing my training \ business prep until July. Now, I have the option to accelerate my plans, and I know I still have alot to learn before I am ready to. Exciting times.
Anyway, I will let you all know how things turn out. I understand it will be about 5-6 weeks at the earliest before I know.
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| Skippy |
Posted - 28 October 2011 : 19:39:15
It's good to hear from you RandomGuy. Fingers crossed you get ED - don't forget to let us know! How is the training going?
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
| Niobe |
Posted - 28 October 2011 : 18:35:01
Fingers crossed!
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| RandomGuy |
Posted - 28 October 2011 : 18:23:17
Its been a while since I have posted, but think I have some good news to share.
I received the IPO questionnaire that they send prior to giving early discharge. With a bit of luck I may be discharged by xmas. |
| RandomGuy |
Posted - 31 July 2011 : 23:40:48
As for the inheritence... it kinda sucks but there is absolutely no point in risking the fresh start I will be getting because of £5000. Once I am discharged its a relatively small sum to earn bearing in mind my lack of debt payments. In fact I have been worrying abit all weekend. I know I will feel happier once I have followed up the email with a phone call, and got the money sent off.
My sole goal is to get everything done on my end as fast as possible. I am already got the energy and mental focus back to start thinking about my future, and I think I will be doing some vocational retraining this year so I can do some freelance web development work once the bankruptcy is discharged. Although I have alot to learn before then... but I definately don't feel depressed anymore. |
| RandomGuy |
Posted - 31 July 2011 : 23:34:28
I was careful in the divorce to not get a spousal maintenance order, and we had no kids (so no child maintenance order), and I think its those that would be caught after bankruptcy.
I feel kinda bad, until I remember what she was like before the divorce (and the fact I got totally screwed in the divorce settlement, as I was earning reasonable money at the time). |
| Bigal4787 |
Posted - 31 July 2011 : 22:09:50
HI,
You've done the right thing by informing the OR of your inheritance now that you do know about it, they now have 42 days in which to claim it, but only once the OR becomes the trustee, so that will be 42 days from when they become trustee.
As for the joint loan, I'm not too sure but the court may be able to get the indemnity overturned, as in some cases bankruptcy has precedence over some parts of divorce law and settlements. But it may depend on whether the indemnity was a court order or not.
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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| RandomGuy |
Posted - 30 July 2011 : 01:24:35
Wow, talk about a wierd evening. I was going through what Bankruptcy means with my mother, and she just told me I inherited £5000 last year and she was holding onto it until I had sorted myself out.
You can imagine my panic when everything was starting to slot into place. I have sent an email to my OR. I am quite worried about this.
My sole goal from this is to get a fresh start. I don't think I can cope with getting into trouble over the fact this was not in my Statement of Affairs.
Do you think this will cause problems? |
| RandomGuy |
Posted - 29 July 2011 : 21:07:14
OK, just a quick question on something I have been mulling over.
One of my debts is a joint loan I had with my ex-wife. I put on the Statement of Affairs, details of the divorce and a summary of the settlement. I didn't give any court ref. of the order of the settlement or much info regarding it, just that I gave indemnity regarding a joint loan as part of the divorce settlement.
Is this sufficient to cover me against future claims in the future? |
| Bigal4787 |
Posted - 28 July 2011 : 18:13:34
Hi Randomguy,
I doubt they will even go that far, you've been virtually housebound for over 2 years, the business didn't run very long, and you have not acquired any further credit since, in short I would imagine that your case will be closed very soon, then just wait for AD.
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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