| Author |
 Topic  |
|
|
stuart48
Starting Member
1 Posts |
 Posted - 15 December 2009 : 15:16:15
|
| how long does the bankruptcy process take |
|
|
Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 15 December 2009 : 15:34:33
|
Hi Stuart
Welcome, and before there can be some help, it would be helpful to have some detail in outline:-
In what way do you mea; how long does it take - where are you at the moment with your finances?
For example, have you taken any advice from an insolvency expert? Do you know that bankruptcy is your best option? How much are your debts? Do you own any property - and if so, is there any equity?
I am sure the forum will be able to assist with your situation and offer you guidance
Come back and lets see what can be done for you, regards, Richard
"There are no problems - only solutions..." |
 |
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 15 December 2009 : 15:52:17
|
Hi Stuart
welcome to the forum as housing has stated depends how far you are down the slope !
my answer for my circumstances will be longer than most
years bulding up debts borrowing more money to just pay debts and years of sticking head in sand
many incoming phone calls and threatening letters.
3 - 6 months to get my prep done and with the help of my expert correctly position and confirm that BR. was the correct route for me (house, job , pension etc)
3 - 4 weeks to get bankruptcy court date, (each court differs) although i have applied to get cancellation and one has come in this morning for friday !
from my wife experience 10 mins on phone to expert who completed Statement of affairs
1 sleepless night before court
15 mins panicing outside court
2 mins with judge
5 cups of coffee waiting for confirmation that she was BR
90 min interview with official receiver, who was very nice
been totally compliant with OR hopefully no IPA so BR will last a year (as Housing states early discharge is bonus not a right).
biggest hint i can offer for any one, get your head out of the sand , denial, if you do not understand the process dont be affraid to ASK or use the proffesionals and experts on this forum, then get control back of your future.
but it has all been worth it as the stress and negative feeling have been lifted and we can plan for our future
regards Richard
|
Edited by - Richard P on 15 December 2009 15:53:55 |
|
|
|
mick1972a
Junior Member
235 Posts |
Posted - 15 December 2009 : 16:45:35
|
| Hi we were made BR 29th April, it usually lasts a year and we were one of the fortunate ones who got early discharge at the end of november with no IPA so from going BR to discharge 7 months for us. Each case is different though. |
|
|
|
chester2005
Average Member
United Kingdom
786 Posts |
Posted - 16 December 2009 : 09:10:50
|
as Richard has said the time before BR is more important than the 12 month BR period itself
making sure it is right for you and your circumstances and then planning it all so it is under your control and you don't get carried along with it
the court bit and the OR interview should be relatively harmless and then times flies to discharge date
of maximum 12 months as long as you cooperate with the OR
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
|
|
| |
Topic |
|
how long does the bankruptcy process take
