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johns
Junior Member
United Kingdom
269 Posts |
 Posted - 17 August 2011 : 06:15:52
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Hi to everyone, I have been using this forum for the past 3.5 years although not as regular as the time leading up to bankruptcy and shortly afterwards, now 3 years since bankruptcy i would like to share an insight for potential people in the position i found myself in and also the gratitude i have for the forum and experts that helped me some tough decisions.
Bankruptcy is a way forward when all is coming down on you but weigh the pitfalls and listen to advice from the forum experts not people who think they know,( although this should not restrict your need to talk),my biggest fear was that of failure and what my family and secondly my friends would also think of me,(years of a lavish life style and spoiling family and friends).
The day after a lot of deliberation i decided to go bankrupt it was raining as my very supportive wife and i walked down to the court my biggest concern was that of a loser. Arriving at the court was met with extremely friendly check in staff and although shaking at the knees i carried on with my usual wit and confidence,then the time came i introduced myself to the pre- court official who took all my details,(Plus monies), in a truly friendly yet professinal manner. Next thing i was on my way down to the judge and sitting there i thought to myself had imprisonment been brought back for debts, my debts stood at £900k due to liquidation of my company,all i can say is the judge was not judgemental,(no pun intended)next thing i am back upstairs talking to the insolvency offices.
Next day i take all the information to their offices and informed that they would contact me soon. Two weeks later i recieve a letter from the trustee, remember life goes on and you have to keep going.
Nothing for a year and my wife recieves an e- mail from the trustee asking if she is prepared to buy the house or my interest in the property, in this instance just say yes unless you want to move out, again nothing for a further 2 years and for every single working day thereafter i went from work every day to check if the trustee had sent me a letter about the sale of the house. Then thtee weeks before my house is safe the dreaded letter came securing the creditors stake in my house my wife was distraught as i was also due to go into hospital for an operation so this was another kick.
Well my 3 year anniversary of bankruptcy fell on the 5th of August and on the 6th i recieved a letter stating that the house was being given back to me,( even with 70k equity) weird but thank you very much and this has now lifted a great weight of my shoulders and my wife now sees a future whatever life throws at us.
SO A BIG THANK YOU FOR ALL THE INFORMATION AND ADVICE FROM THE FORUM WITHOUT THIS SITE THERE IS NO WAY I COULD HAVE GOT THROUGH.
1 Before you go bbankrupt listen to professional advice.
2 View it as a start not an end
3 Be open with family and friends, i told all at the time which helped rather than hiding and awaiting them to find out.
4 Last but not least and i am so fortunate to have a supportive and loving wife do not let your own frustrations spill over to your friends and family, they all want to help in their own way even though they will never fully understand.
THANK YOU FORUM |
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pauld172
Starting Member
17 Posts |
Posted - 17 August 2011 : 06:27:50
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what a very positive post!
well done johns!
i have found both forums of value - this one and iva.co.uk - they have helped me immensley on my journey.......i am 2 months into BR and i have felt so much better taking this route!
like you i spoke to professionals before i made my decision and the help and advice i got was brilliant!
good luck for the future and i am looking forward to being in your position in 34 months.
paul |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 17 August 2011 : 07:53:17
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Excellent post and so glad things have worked out ok for you.
Good luck for the future.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
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glafy
forum expert
436 Posts |
Posted - 17 August 2011 : 08:52:25
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Great post johns. I am sure that it will be helpful to both new & old members of the Forum,
Good Luck to you & your wife as you move forward.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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Viki.W
forum expert
United Kingdom
2211 Posts |
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