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SATAL
New Member
United Kingdom
50 Posts |
 Posted - 04 March 2011 : 14:30:17
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Is it correct that the OR may refuse a BR because I have used my credit cards recently? I am getting conflicting advice about this and am very confused!
I used them to get supplies for work (I am self employed/sole trader), for travel and cash for living expenses..not for luxuries.
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 04 March 2011 : 14:58:04
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Hi SATAL,
it's not the OR that decides whether you're bankrupt or not, that's done by the court(sometimes you might not even see the judge) as long as the liabilities are £750 or more, the OR then examines your financial affairs to establish why you became insolvent. As a sole trader, you would have a face to face interview
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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SATAL
New Member
United Kingdom
50 Posts |
Posted - 04 March 2011 : 16:13:39
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| Soif the court decides I can go bankrupt but the OR has a problem with my use of the cards, or the reasons I have become insolvent, what happens then? |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 04 March 2011 : 16:18:49
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You would still be bankrupt, but you may get a BRU (bankruptcy restriction undertaking), which means that you will be subject to the restrictions of BR for a longer period.
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 - it's over at last! |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 04 March 2011 : 18:11:49
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Hi and welcome,
As already advised, the court (DJ) makes the Order for BR and the OR investigates. Have you been to court or are you considering BR at the moment?
Again on the ways you behaved to arrive at BR will be investigated by the ORs officers. One sanction is a BRU or a suspension on the discharge - rare, but can happen when a BR does not co-operate with the OR
Come back with a bit more detail and someone here will assist you
Richard (Housing)
"There are no problems - only solutions" |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 04 March 2011 : 18:27:17
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It depends on the level of use, and over how long. The worst that could happen is a BRO or BRU in which the restrictions could be extended beyond 1 year, or the least is that you don't get ED. Without knowing the level of use etc. it's hard to say what may happen.
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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SATAL
New Member
United Kingdom
50 Posts |
Posted - 04 March 2011 : 19:05:17
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There used to be a higher level of use on the cards over a number of years but that has dropped alot in recent months, though I did use them as detailed above last month and a bit in December.
I am unable to keep up with payments now and still have enough to live on so need to declare BR. I'm in the process of filling out the SOA, and am really scared of the whole process. |
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SATAL
New Member
United Kingdom
50 Posts |
Posted - 04 March 2011 : 20:18:17
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| I just wanted to add that although I have spent on credit cards over the years (much of it for work, but I admit some of it foolish), I never did not intend to pay it back, though I had no idea how. This is the reason I've put off BR so long..I always thought I'd catch up somehow and did not want to admit failure. But how would I convince the OR of this? How do you prove that you intended to pay your debts? |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 04 March 2011 : 20:30:39
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Hi Satal
your situation is not that you have run up hundreds on the cards the night before going BR.
as long as you can say that when you used the cards you had the intention of paying back it will not be a problem. (patterns of spending of previous years when times were better)
The OR is not a monster they understand life
when did you last use the credit cards or take out the loan ?
even if card usage was recent you may under extreme circumstances be able to justify.
if you are concerned that the OR will shout at you call one of the experts, they will give honest appraisal
Richard
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SATAL
New Member
United Kingdom
50 Posts |
Posted - 04 March 2011 : 20:38:53
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I last used them about a month ago and won't be using them again.
I did ring one of the experts who very brusquely told me that I should not appy for BR for a few more weeks because of this. If this is true, fair enough, but I am anxious to get it done now that I have decided on BR. I'm finding being in this 'limbo' very stressful, can't pay my bills and have been put on anti depressants.
I would really like some help with all this but don't know who best to ask..I need someone who will be patient with me as I cannot help getting stressed |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 04 March 2011 : 21:08:57
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OK if expert has said wait a few weeks i agree
some courts have waiting lists of about 4 weeks others are walk in no appointment necessary.
so make a decision to use expert or do yourself from what you have typed I think you need someone to hold your hand make certain all of preplan have been completed,take care of the paperwork and if appropriate help you at interview.
keep posting their is also patience and support here on cyber
oops forgot to say come to court with you as that can be the most stressfull although in practice it is an anti climax.
Richard |
Edited by - Richard P on 04 March 2011 21:17:26 |
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SATAL
New Member
United Kingdom
50 Posts |
Posted - 04 March 2011 : 21:28:58
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Thanks Richard.
I think I need someone too...it's just finding them that's the problem (and paying for them!).
I will keep posting in the meantime..sometimes it makes me more confused, but it does help to know you're not alone.
Thanks for your help. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 04 March 2011 : 21:40:57
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Personally I didn't use a company to help me - I completed the forms with help from the forum, although it would have been nice to have had the forms checked! My partner went to court with me for moral support - do you have someone who could go with you?
Good luck whatever you decide to do. I don't know who you have already spoken to, but I would definitely recommend taking further advice before deciding whether to use a BR assist company or not.
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 - it's over at last! |
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SATAL
New Member
United Kingdom
50 Posts |
Posted - 04 March 2011 : 22:29:32
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Thanks Tracey.
I do have someone who can go with me, but I don't feel confident in filling out the forms myself, esp as I am self employed so it makes it a little more complicated. As you say,it would be nice to have someone check it all.
I'll keep looking on here for answers while I decide what to do. |
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choccie lab
Starting Member
United Kingdom
48 Posts |
Posted - 04 March 2011 : 23:30:18
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Hi Satal,we had all our forms done with the help of our local CAB,they were really helpfull and best of all it was free.
Good luck with whatever you decide to do |
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glafy
forum expert
436 Posts |
Posted - 05 March 2011 : 06:49:01
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Hi SATAL, as Richard P has said, there is some great support on here. Did you contact one of our experts from the link on the left of this page?
It can take a couple of goes before you meet the right one. It is a hugely stressful time and you will need to have a good, trusting relationship with an expert if you feel that you do need assistance with your BR. I was one of those who needed help & support through BR & the following year & I (& hubby) know we can pick the 'phone up at any time for a chat with them.
Try not to rush into anything & take time to decide if you can do your own BR and use this Forum to assist, or DO try & contact one of our experts.
Good Luck with it all & keep on posting any questions that you need the answers to.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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Topic |
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Is it correct that the OR may refuse a BR
