I was made bankrupt on friday. I was quite surprised how easy and painless it was, i know it will get a harder when i deal with the OR but if anyone is thinking about doing it there is nothing to fear about the court date
Try not to worry about the OR, they look very closely at your finances but, provided you are honest and upfront with them, they are fine.
If you forget about a creditor and they find out about it then there isn't a problem but if you try and hide something they will really look very closely at your financial history and it may result in a BRU (Bankruptcy Undertaking), which would increase the time the BR restrictions apply.
I have not much to hide, i have a car worth about £2700 and a house with about £5000 woth of equity in it.On this forum i have been told told i dont need to declare anything under £500 as a asste is this true?
not quite, you dont have to declare any household goods worth less than £500. All other assets you have to declare regrdless of value, for instance you may have £50 of premium bonds
Bankrupt
Posted - 17 April 2010 : 10:35:44
