Am now BR ...

[fudge34]

So I went in and I came out and I am now officially BR.

For those who are interested. I went in at 9.30 had to line up with a big queque of people all looking slightly shifty as we all knew why we were there.

9.39 I was called to the counter and in front of everyone in the queque had to explain what I was doing there, hand over my cash, and swear on the bible which was pushed through the glass petition. The cashier (which was all she effectively was) kept asking me to speak up as people kept walking in and out of the office on their way to the divorce court.
Handed over my forms (was only asked for one copy) and then told to come back at 10.30 to pick it up. Spent an hour in Starbucks wondering what I am going to tell work (I assumed it would take an hour) went back was handed a realm of paperwork and was then told to go somewhere else to see the OR. 30 minutes walk later arrive. Sat there for an hour and was told that this wasn't the offical OR interview but a check through of my forms etc. Sat with a women who was very nice but couldn't answer any of my questions apart from to say that the OR don't deal with the house my mortgage company make a decison whether my husband is allowed to take on my BI.

Couldn't elaborate on that at all which I found quite frustrating - did say that she would allow me to keep my current account open but again up to the bank as its their decison fair enough.

OR interview could be in 10 days - won't do it over the phone- even though I explained that I work full time and its hard to take time off without booking it with plenty of notice. And that was that. 6 hours after I first started at the court I am now waiting for my OR interview date.

Stressed never felt anything like it -

[MelanieGiles]

Rather strange advice from someone who clearly does not understand about properties and beneficial interest issues - I would wait for the OR interview where everything should seem a whole lot clearer.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[fudge34]

Oh Melanie it was so humiliating, I felt so geared up to get it sorted and now sort of let down. She said she has to write to the mortgage company today (who are unfortunately NR) to tell them of my BR and now I am really panicking as you know they were a major creditor of mine. I asked what should I do as I assumed that the OR contacts me and my husband asking if he wants to buy the BI in the property and she said no, don't do a thing you have to wait for the mortgage company to write back to you - I am quite confused - should i call NR now and ask them what to do?

She said that NR can and might repossess the house despite us being up to date on every single mortgage payment, and my husband working full time and being solvent - I said that I will still pay into the mortgage but she said that didn't matter and NR will take it on his wage alone and whether they will allow me to keep the house. I told her that my IP had worked out that I had around 4 grand worth of eqiuty in the property and surely it would cost NR a lot more to sell it and she said the OR can tell you that. I am really worried about what i should do now

[katy]

Hello Fudge, that sounded a bit of a nightmare and seems in complete contrast to what I experienced on Monday. At least the BR part is done and that's one hurdle over, I hope the actual interview goes better for you. I have mine on Wednesday next and am not looking forward to it.

[Adam Davies]

Hi
It,s amazing the different experiences regarding actually going bankrupt,it depends on your area I guess.Your,s sounds a bit of a nightmare and I wouldn,t be too happy explaining my bankruptcy for all to hear.Poor you
As Melanie states you have been given strange advice,do not worry because NR would rather the mortgage is paid than repo the house,especially with only 4k equity.Wait for the OR interview because he/she will be able to give you all the answers that you need.
It will get better
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[fudge34]

I think we just have a bit of a bad process where i live - in retrospect its not as bad as it could have been, I didn't have to meet the judge or anything like that but just weird having to do all your personal business in front of a room full of strangers who kept looking at the wall, then the floor, then the wall you know what i mean! I know, I wish they could do a one day service so you could get all the stress out of the way in one day but the wheels are in motion now so we should be very proud of ourselves!

[accgroup]

Hi Fudge,

Try not to worry. I agree with Andy and Melanie, things should be a lot clearer after your interview with the OR. I wouldn't do anything until after that meeting. Don't make any hasty decisions and remember to take expert advice if you need to.

Andrew Wilkinson
Insolvency Practitioner

AccumaGroup - A large insolvency practitioner service based in Manchester.
www.accumagroup.com

[BrassicLintus]

Aw Fudge poor you. It's a pity that all courts can't operate like Cardiff, my BR date was really painless - but at least the deed is done - well done you! I know what you mean about waiting... I've had my OR interview today (by phone) and am still none the wiser regarding my house or car! The OR couldn't comment on the BI in my house, apparently that's dealt with by a different department so I too am playing the waiting game. Just try and take each day as it comes and don't panic. Don't stress too much about your OR interview (easy to say I know!), I was a bag of nerves but the guy was really patient and pleasant. Just make sure you have a copy of your Statement of Affairs in front of you, and check and double check that you have included absolutely everything in your I&E. But you've got over the worst bit - so hopefully things will start to become a bit easier and clearer.

[ray_a]

Agree and suggest you wait for the meeting with the OR who will be helpful. I wouldn't worry about the mortgage because I understand that if your partner is not in bankruptcy they can not touch the house as he has an interest in the property. I also understand though a charge can be made on your share of the equity though! Please correct me if I am wrong!

Obviously if you are up to date with your mortgage payments there should be no problem as NR will not want to repossess!

Sorry it was not nice today. Have a good drink tonight and look forward

Good Luck

[fudge34]

Thanks guys - your kindness makes me want to cry --- I feel so shaky and tired and just want to have a rather large drink! I think my experience isn't the case in all courts, just my one! I just called NR explained the situation they were very nice and said that we have two options. One is called a change of parties where by I get my husband to fill in a form and then the house goes into his name with the OR's approval (but the problem with this, is that, he doesn't earn that much and I doubt he would be able to get a mortgage on his own for the amount we need, my payments wouldn't be taken into account because of the house being in his name then) or for him to buy the BI from me.

When this happens the house remains both our names apparently and I remain making mortgage payments towards it as I have always done. Again up to the OR as to how much they can ask for from this - NR were really nice and said you are valued customers and we wouldn't want to lose you and in 9 out of 10 cases people work something out so they can keep their houses. Feel a tad better now! Although i obviously have to wait to see the OR to see what they say about it all - but I am thinking about making them an offer in my first appointment to get the house sorted asap.

[lily]

Fudge

Pleased that you got this far, the daunting thought is at least out of the way now. One mountain climbed at least and one step nearer to your new life.

Good luck with the OR.

lily

[fudge34]

Thanks Lily you are always there with a kind word - appreciate it x

[MelanieGiles]

Fudge

You don't need to take your name off the mortgage for your husband to buy out the beneficial interest. I think that the person you have spoken to at Court is confusing you - wait until the OR takes over and then things will seem a lot clearer.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[fudge34]

Thanks Melanie - NR mortgage department were really helpful too this afternoon they said we of course want to help you - just need to get the BI bit done now - the lady at the court did say that she would be writing to NR to tell them I had been made BR and I would await their letter is that correct or should I just wait for the OR to get involved - I understand the writing to NR bit (although would be so much nicer if they didn't know!) but what do they have to do with it? surely its up to the OR if we have never defaulted on our mortgage - thanks Melanine you are so supportive!

[pippa]

Fudge

I just wanted to say I am sorry your day wasnt as perhaps productive as you had wished, sounds to me like some of the advice given at court etc was 25p short of a pound.
As brassiclintus said in our area it is very different experience, but dont worry all those questions you have will be answered very soon once the OR is involved.
I dont think any of us have had it easy and I still have days when I want to disappear off the face of the earth, but they are few and far between now. Give your self a big pat on the back for today you are moving on, and I will have a bar of fruit and nut for you (who said again!)


Think this time next year we should all get together and have a BR discharge party, what do you think?

Pippa