Today I have been automatically discharged from BR so I guess my journey has come to an end.
I have been using this forum now almost on a daily basis for the last 18months when I decided that BR was the only option that was available to me to help sort out my debt problems and get my life back on track. I thought I would share my experiences of my 12months of BR and I would also like to personally thank the forum experts for all of the help and advice they have given me
I’m in my mid thirties and have been robbing Peter to pay Paul most of my life due to being left with debts after a relationship breakdown about 5years ago. I was part of the generation who would take out 0% creditcard, transfer balances around whilst slowly chipping away at the balance and then 6months later transfer the balance over to somewhere else. I definitely haven’t lived the high life but I always had a creditcard on me if I ever needed or wanted anything.
Then 2years ago when the Credit crunch started to kick in Banks stopped giving out the Creditcards as easily or without the option of a 0% balance transfer. Suddenly I started having to make interest payments on the cards, then my salary wouldn’t cover living expenses and the monthly card repayments so I had to use the remaining balance to live on. The remaining credit options I had soon vanished and that is basically my story.
I went to court not knowing what to expect but all of the court staff there were so helpful and professional. They put my mind at ease helped me with a few minor amendments to my SOA forms and took me up to the Judge. This was the part I was worried about the most. I went into the Court room and I was met by lady who introduced herself as the judge and she immediately relaxed me by offering me a Werthers Original sweet whilst she read my SOA forms. After tens mins or so she agreed that BR was the right option and she declared me BR and informed me that I would receive a phone call from the OR the following day at 9am. I left court with my BR notice in my hand and went straight to the local library and photocopied it 30 times so I could send a copy to all of my creditors to stop the letters and phone calls.
My telephone interview with the OR was straight forward and all you need is a copy of your SOA next to you, a pen, a pad of paper and a large mug of tea/coffee.
Following on from my interview and over the last 12months I have received no telephone calls from the OR and have only received a letter confirming they were not interested in my vehicle and that they have the BI in my property
I am no finanicial expert but if I could offer anyone any advice that I have learnt during my BR it would be the following:-
1 Before you go bankrupt listen to professional advice. The experts on here are first class and really know there stuff. There is no such thing as a silly question. 2 It is a fresh start and a way to resolving your financial problems. 3 I chose not to tell anyone but in hindsight this was the wrong decision because there will be times you need to talk to someone. 4 Open a CoOp Cashminder account soon as possible and get all of your standing orders, direct debits and salary paid into this account before you go to Court. I cannot compliment the CoOp bank enough. They are the most friendly helpful bank I have ever used (Probably because I don’t owe them any money!!) 5 If there is any chance you can start a new 12 month insurance policy for your house and car before you declare BR then I would. My renewal date was about 5months into my BR and on the comparison sites I couldn’t get the cheapest quote with the option to pay monthly – I presume because of my BR being on my credit report but I may be wrong here. Insurance has been the only real head ache that I have had.
I will still be posting on here over the next few weeks because I want my credit report cleared up asap and my properties BI is now with the OR so I will no doubt have further questions about this over the next few months.
I cannot thank the forum experts on this website enough, I have asked so many questions and I have always had my questions answered by someone with 24hrs. They also help prepare you for the stages of BR and what is likely to happen next. They helped me to stay one step ahead of the OR so I was ready to give them all the information they need to handle my BR case. There is no way that I would have got through the last 12months without you so again a big thank you to you all.
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 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side.
Discharged today!!!
Posted - 27 August 2011 : 09:23:56
