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| T O P I C R E V I E W |
| madwithworry |
Posted - 26 October 2009 : 23:57:31
What is the worse possible scenario after the OR interview? Got BR hearing out of the way - now I keep going hot and cold just thinking about the OR interview. Our debts have accumulated over the years due to sickness, unemployment, supporting son through university etc. We couldn't believe the amount of debt to banks we were in.Using credit card cheques etc to supplement our living. Now it all seems so bad that we didn't do any thing sooner but always thought something would turn up. We have until recently carried on using credit cards. What is the worse that can happen to us. Please is there any re-assurance any one can offer? I really need to get some sleep. Thanks Katie |
| 6 L A T E S T R E P L I E S (Newest First) |
| charlie44 |
Posted - 27 October 2009 : 12:38:53
Katie, we are in exactly the same position as yourelves except we don`t go BR until late November. The rollercoaster of emotions is unbelievable so I can empathise with you there. It is only the likes of this forum that has kept me going, and after reading literally hundreds of threads you realise that you are not alone, so hopefully you should have no problems with the interview, as long as you are completely honest with the OR. That is the message that keeps jumping out at me, so good luck with your interview and please let us know how you get on. |
| gettingoutofdebt |
Posted - 27 October 2009 : 12:31:40
You haven't done anything that anyone else hasn't Katie, so try not to worry. Lots of people, myself included, were using credit cards for everyday needs (i.e. buying food, petrol, etc.) and using their income to make the minimum payments on their CC and pay their loans. |
| Niobe |
Posted - 27 October 2009 : 11:08:34
Katie - I am sure that you will have nothing to worry about and that everything will be fine.
The glimmer gets brighter all the time
Jan
xx |
| mark.64 |
Posted - 27 October 2009 : 10:45:12
Hi Madwithworry, My wife and I found ourselves in a similar situation to you, nearly 100k of debt when all added up after the shortfall of our house, I can only comment from personal expearance but found the OR interview very good, just told the truth to what we could remember over the years, He was very neutral and polite and things are so much easier now since making the decision to go bankrupt, which was june of this year, He is now looking to be released as trustee as he has finished looking into our affairs
Sleep easy im sure everthing will be o.k
Mark
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| debtinfo |
Posted - 27 October 2009 : 07:32:19
There are 4 things that the OR can do.
Firstly the OR can give you an early discharge.
Secondly the OR can let your bankruptcy run the full 12 months.
thirdly the OR can seek a BRO/U, where you are still discharged but the resrictions of bankruptcy last for up to 15 years. Only about 6% of cases go that far.
Forthly the OR can seek a prosecution which can lead to imprisonment. This is usually only where something like theft is involved an only about 1% of cases prgress that far.
If you have been using credit up until the bankruptcy the OR will look at whether you were just recycling other credit or whether you were spending new credt |
| RHB |
Posted - 27 October 2009 : 07:26:37
hope you got some sleep!
The very worse is for you to get a BRU/BRO for a number of years but that is very, very unlikely by the sounds of it. |
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