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MadOne
Starting Member
3 Posts |
 Posted - 16 October 2008 : 22:13:54
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Hello,
I’m wondering if someone could possibly explain a little to me about the level of investigation into your affairs that happens once you go BR.
I currently am not working and have debts of around 50k, built up mostly between 2004- 2007 (I was self employed during this period). I have sought help and advice from the Citizens Advice and they say BR would be my best option. Although I’m nervous about this because of the following.
During the period in question I suffered from mental health problems and basically went off the rails. Due to my illness I was working only sporadically and whilst not thinking straight I kept remortgaging my home to basically live on. I did this several times until I had no more equity left. I was evicted from my home last year, and spent six months pretty much living rough.
I sought medical help in late 2007 and am currently in psychiatric counselling and also awaiting to enter into more detailed psychological counselling. So far things have gone well(ish) and my psychiatrist wrote to the local housing association and asked them to give me priority status for housing, which luckily for me was accepted and I’m no longer sleeping rough.
My nervousness about going BR comes from the fact that from 2004-2007 I don’t really have much of an idea about what I was doing onto a day to day basis, due to the mental health problems the whole period is somewhat of a blur and I’m concerned that if I’m asked any questions I may not be able to answer them at all. I’ve looked at such things as credit card statements etc and the truth is, I don’t recall hardly any of the transactions. For example on one of the statements was a transaction for a night in Iceland (the country not the shop lol), but I have no recollection of ever being there, perhaps it’s a fraudulent item, I just don’t know.
So I’m wondering just how detailed the investigation into my affairs will be if I go BR and what will happen if I get asked questions that I just don’t know the answer too?
If anyone could enlighten me a little that would be a great help, thank you very much
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eamonn
Junior Member
320 Posts |
Posted - 16 October 2008 : 23:45:02
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hi madone
welcome to the forum
i can not answer your question fully but i think that if you do decided to go br the or will ask you question's about how you got in to the debt and if you answer as fully and honestly as poss,(and that does mean if you can not remember that is what you should tell them)and that you explain your recent health problems,the only "punishment" the or can give you is to extend the length of the br restriction's with a bro/bru but given your health prob's i would have thought that unlikly,i hope this helps in some way and please continue to post your question's we are here to help where we can |
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useful
Starting Member
United Kingdom
44 Posts |
Posted - 17 October 2008 : 02:21:07
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Hi madone, I can relate to your problem of memory - in 2003 i suffered a psychotic breakdown and had to retire in 2004 - cant remember that year at all and have gaps in the rest - and then the medication (Seroquel) wiped out any anxiety of the increasing debt over the following years. Over the past year i have cut down the meds and now feel like crap but at least i am dealing with things, getting up in the morning and opening the mail, making phone calls
I wonder where the money went too - i havent got any nice stuff, car etc.....and so it goes - now rent a tiny room
I think what worries me most is not being believed that i cant remember everything and seizing up mentally
What ive found with visiting this site, is that all my fears have been calmed by the practical down to earth advice and support of people whove been thro this, so keep posting and forgive my own panick attacks in writing - im learning as i go along so keep posting and try not to worry about things you cant recall,as the memory is gone and no one can blame you for that |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 October 2008 : 07:21:17
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Hi MadOne
The OR will want to establish the facts mainly for the creditors so that they can put a picture forward of what exactly happened and why it had come to BR.
If the OR considers going that far back and your case warrants it then yes they will, but on the SOA form you fill in its asks basically how did it get to BR but not in those words and you can put it on down on there.
If you answer everything, be honest and dont hide things, do what the OR needs you to do and make sure all the facts are there for the OR then they may not have to look back so far, if they think they can smell a rat they will look further back.
Hope that makes sense. But all of our BR have to be looked at thoroughly and so as long as it does not look like you have done something really bad then it could just go through quite smootly.
Remember though that when wee declare BR we give the OR permission to look back as far as possible, you are given the chance on the SOA to say when you started to have difficulties and this would be your chance to explain.
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Level of investigation ?
