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sorting out my life
Starting Member
9 Posts |
 Posted - 06 June 2012 : 13:34:59
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Hi all, I have a Court date set for tomorrow to present my forms - feeling very nervous and anxious. Basically I have debts of £80,000, I do not own a property, am a single parent and my income is decreasing due to a change in my current job. I took the pragmatic decision to file for bankruptcy now to get my life back on track.
I did have an IVA but have failed it as I won't be able to manage the £200 a month repayments. I have emptied out my bank account except for the money that is needed for direct debits so that I have cash for the rest of the month until I can open a new account. I have sought advice from the debt help line and various other Insolvency Practitioners who all advise this is the right way to go, but its easy for them to say as its not their name on the petition!!
I guess I just need some reassurance really that I am doing the right thing, which I believe I am, but some human affirmation would be appreciated! I know I am not the only one out there who is in debt, and when you see big companies crashing it makes my little petition seem insignificant.
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repo
Starting Member
United Kingdom
2 Posts |
Posted - 06 June 2012 : 13:51:13
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| Good luck tomorrow - it is not anything to worry about - over in less than 3 minutes... |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 06 June 2012 : 13:52:16
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It sounds to me as though this is a good solution for you - you can't pay your debts, your IVA is not sustainable and, unless you want to try for a DMP, this seems to be the only option.
You have done your best and good luck for tomorrow.
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
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 06 June 2012 : 14:21:18
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I agree with Niobe, sounds like bankruptcy is your best option.
Good luck for tomorrow, you'll be fine.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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year 2029
Average Member
590 Posts |
Posted - 06 June 2012 : 15:45:45
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Good luck for tomorrow.
Its not as daunting as it might seem.
You might also find you can still use the account you have, and not necessarily have to open a new one.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 06 June 2012 : 17:44:07
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Good luck from me as well.
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
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Not sure where to turn
Starting Member
United Kingdom
7 Posts |
Posted - 07 June 2012 : 08:13:41
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| Thanks for your words of support, I'm feeling much calmer and positive and will update to let other's know the outcome. |
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year 2029
Average Member
590 Posts |
Posted - 07 June 2012 : 13:16:51
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Hi not sure where to turn.
I hope all went well today?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 07 June 2012 : 14:11:42
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Hope it all went ok.
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
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Not sure where to turn
Starting Member
United Kingdom
7 Posts |
Posted - 07 June 2012 : 16:19:01
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| Hi Niobe and Year 2029 - I arrived in plenty of time and just as well I did as the Court had moved over the long weekend! After getting stressed because this was unexpected, we eventually arrived at the correct office to be told I had to go to a different location to pay my £700 and then go back - luckily I had a good friend with me who helped keep me calm. My worry was I would have missed my slot with the Judge and be delayed to another date. I needn't have worried, once I paid and returned to the correct office the Judge looked at my papers straight away - I didn't even see him/her. I know have my official bankruptcy petition and will wait to hear from the OR next week some time. Time to relax and reflect I think. I will repost once I have something to say - but if I can give anyone advice on the initial 'legal' process ... I would say its very straightforward and matter of fact. The rest is a mystery! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 07 June 2012 : 16:27:49
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That's great news, glad you eventually managed to get it sorted. Good luck with the OR interview, I'm sure it will be fine.
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
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year 2029
Average Member
590 Posts |
Posted - 07 June 2012 : 16:30:25
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Well done!
I'm well into mine and its been nowehere near as bad as I thought.
Any questions on how mine has gone, feel free to ask away
;-)
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 07 June 2012 : 16:42:32
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Im glad it went well x
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 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. |
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Feeling very nervous and anxious. Needing some reassurance that I am doing the right thing
