Hi gotr another question.I have been paying my debt up to now but living on nothing.I have now decided i cant go on like i have been so im going to stop paying.Will this go against me with the fact that i stopped paying a week ago and now im suddenly going bankrupt.Im worried that the judge thinks ive been managing but i havent.Also as i have just stopped paying should i estimate my i&e from now to get a ruff idea on what i need as ive been living nothing and just simply paying debt!!! so if i put them figures it wouldnt be at all accurate. Also will the OR wonder why all of a sudden i have stopped paying 2wks before i go to court.
No, the judge won't question it. Lots of people keep paying their debts by using more credit to live on, other's give token payments and most stop paying altogether, either months before or weeks.
Hi Ddonna, I would think the OR would see it as a good thing that you have been trying to pay your debts. They would only be concerned if you had been throwing away money on luxury goods prior to your bankruptcy. Don't worry as it sounds like you are in the same predicament as thousands of people in the country at the moment.
I was made bankrupt a few weeks ago and although it was stressful leading up to the day the actual process is almost completely painless. I basically filled out a few forms, handed them in on the day and was back out the door after waiting around for an hour. You will have an interview with the OR over the phone or in person which is okay as they are very nice and are not there to judge you or catch you out.
*IMPORTANT* I cannot stress enough that before you submit your bankruptcy petition get some professional advice. I used the National Debtline numerous time and also a company called Reviva UK. The later was paid for but very helpful. You can get the contact details from this site or if you can't contact me and I'll send them to you.
You can ask as many questions as you like and be as honest as you like. It certainly put my mind at ease.
Hi gotr another question.
Posted - 23 October 2010 : 11:50:00
