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| T O P I C R E V I E W |
| ciboney |
Posted - 26 October 2009 : 11:31:35
Hi All
I have got answers from various other posts and many thanks to all those who offer advice on this excellant forum. However, i guess every case is different and i could really do with some help; this is my predicament.
I have been considering BR for quite some time and like many i have tried to forget about it until my hand has been firmly forced. I have / did have a house which is about to be repossesed and should be cleared by tomorrow. Once this has been sold etc i dare say i will have debts from several companies in the region of £60k.
I have been renting for a few months elsewhere so i have a place to stay already set up. I live there with my girlfriend and her two children - she has no joint account or anything related to my own finances or the now to be repossessed house. I pay the rent for the accomodation, whilst she covers the bills etc. I am worried what this arrangement will have when it comes to the OR. I dont want her to be implicated in the BR whatsoever.
Also, whilst i know BR is iminent should i declare myslef BR or just wait until someone else does it for me? I know it would be cheaper but does this have a negative effect on my handling of the situation by the OR and the terms of the terms of the BR that they will impose?
Finally, i have a debt of around £1.5k with a gambling firm; whilst i have always liked a bet and i would say that whilst the amount is a lot, gambling isnt the reason for my current state of affairs. I am desperate to get out of this BR asap and not be held in for any longer than needed.
Any helps would be gratefully received
Ciboney
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| 4 L A T E S T R E P L I E S (Newest First) |
| In 2 Deep |
Posted - 26 October 2009 : 16:57:33
Hi Ciboney,
If it is only you petitioning for BR, the OR will not be interested in your partner, only that she is making a contribution to bills.
You will wait for a considerable amount of time for one of your creditors to file for your BR - unless you have a debt with AMEX who will petition for your BR. Do it yourself and you retain control of the situation to a degree.
If you have a debt incurred through gambling, I would say you will more than likely receive a BRU/BRO which can last from 2years to 15 years.
see: http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/bro.pdf
Please consult one of the forum experts who post regularly.
Gd luck with whatever you decide.
quote:
Originally posted by ciboney
Hi All
I have got answers from various other posts and many thanks to all those who offer advice on this excellant forum. However, i guess every case is different and i could really do with some help; this is my predicament.
I have been considering BR for quite some time and like many i have tried to forget about it until my hand has been firmly forced. I have / did have a house which is about to be repossesed and should be cleared by tomorrow. Once this has been sold etc i dare say i will have debts from several companies in the region of £60k.
I have been renting for a few months elsewhere so i have a place to stay already set up. I live there with my girlfriend and her two children - she has no joint account or anything related to my own finances or the now to be repossessed house. I pay the rent for the accomodation, whilst she covers the bills etc. I am worried what this arrangement will have when it comes to the OR. I dont want her to be implicated in the BR whatsoever.
Also, whilst i know BR is iminent should i declare myslef BR or just wait until someone else does it for me? I know it would be cheaper but does this have a negative effect on my handling of the situation by the OR and the terms of the terms of the BR that they will impose?
Finally, i have a debt of around £1.5k with a gambling firm; whilst i have always liked a bet and i would say that whilst the amount is a lot, gambling isnt the reason for my current state of affairs. I am desperate to get out of this BR asap and not be held in for any longer than needed.
Any helps would be gratefully received
Ciboney
Treat EVERY Penny as a prisoner. |
| Richard P |
Posted - 26 October 2009 : 16:46:14
sorry ciboney
meant also to say it is better to control your own future.
My wife had a letter from Tax man stating that they were definately going to make her BR, we thought it would be great if they did that as it would save us the fees, 6 months later they still have not done anything, so she has taken control.
If you do it, you do it at your own time and speed, once you have made the decision it feels a lot better
Richard |
| Richard P |
Posted - 26 October 2009 : 15:05:07
Hi Ciboney
if you believe that your BR could be complicated get some guidance from one of the professionals that help with this forum.
I have been challenging my creditors for the past 6 months to make me BR, no one has yet, they prefer the letters, phone call or visits anything to give you hasstle
I believe that part of this process is positioning your applicatiion corrrectly so that the OR can understand exactly what you are saying, who your debtors and creditors are. It can get complicated.
I have no doubt that their are some who can go through the process on their own, but over the past 8 months my head has been in a total dizzy mess, i needed the support and directiion of paul and Ken at reviva.
good luck Richard |
| mitsu8 |
Posted - 26 October 2009 : 12:12:13
im not an expert but what i would say is go br yourself as it will be a long wait for anyone else to do it.i waited about 8 mths and still no one was making me br .just kept getting letters saying it will happen etc but never did so i paid the 510.00 and did it myself.for me the best thing i ever did and basically now debt free |
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