Bankruptcy approved!

[rachel33]

Hello everyone,

Just wanted to let you all know I went to court on Friday and my bankruptcy was approved. I have never felt so nervous in my entire life - I thought I was going to be sick in the court! All those nerves and apart from waiting for 35 mins I was actually only with the Judge for 2 mins. All the staff and the Judge were so nice to me, I wasn't made to feel stupid or uncomfortable, I was treat with respect.
Thankyou to everyone who has given me advice and words of encouragement over the last few weeks, I cannot begin to tell you how much this has helped. Anyone who is new to the forum I would recommend posting straight away - it took me months before I did and I really wish I had done it alot earlier!
I still have my OR interview to come so nerves still there for a bit longer but the relief we are feeling today cannot be described.
Thanks again
Rachel [:)]

[MelanieGiles]

That's good news for you Rachel - and will be a comfort to lots of other forum members. And don't be worried about the OR interview. These people are civil servants doing their jobs. They get up in the morning to go to work, and go home at the end of the day to their own families, and probably have a few beers on a Friday night. You will be in safe hands and soon can put this nasty experience behind you.

Keep posting and let us know how you get on.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[rachel33]

Thanks Melanie, I think I just get nervous when in a new situation and most of the time I wonder why I worried quite so much!
Rachel

[scaredkez]

well done rachel glad it went well for you, its not as bad as you think at all is it? at least you can start to breathe again.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[rachel33]

Thanks Kerri, I cannot believe the relief I feel, I didn't realise just how low I had got. Having this website along with the support of my family and friends is what has got us through this. I actually feel like a mam to my two sons now, something I haven't felt like in a very long time.
Rachel

[sps]

Hi Rachel
Glad to hear you have got the biggest hurdle over with and are feeling so releived. I'm sure your posts will help others considering or about to go bankrupt. Keep posting.
Sue

[iva experts]

Congratulations Rachel!!

Im so glad that everything went well, you can now look ahead knowing that you have a debt free future.

Best Regards. IVA Experts

[iva_squirrel]

Hi Rachel,

Congratulations!
It must ba a huge relief. Good luck for your new start!!!!!


Regards,
Michelle P.

[rachel33]

Thanks everyone!

The support is truly amazing.

Rachel

[zoe]

Well done Rachel
It really is a load off your mind isn't it!
I had my interview with the official reciever today and it was fine, i was worried but you really dont need to be. As Melanie says they are just doing their job.
I was advised today that my payments to them need to be about £110 a month, which is loads less than IVA and it is for 3 years!
Z
x

Zoe
x
Keep your chin up - everything happens for a reason!
View my blog http://zoes.blogs.iva.co.uk/

[rachel33]

Thanks Zoe,

That reassures me about the OR interview, I'm glad you are also sorted. I'm so much calmer now and it was great today ringing the creditors with the bankruptcy details, they sounded a little disappointed no wonder - most of them had agreed to the IVA and it's a shame but this is not something I should worry about anymore, I tried my best.
Rachel

[MelanieGiles]

I am sure that Zoe will not mind me pointing out that she was offering a return of 43p in the £ to her creditors based upon contributions of £485 per month. This goes to show the huge disparity between what the Official Reciever is prepared to allow and that required by creditors. I personally feel sorry for Zoe and Rachel's other creditors who supported her IVA in good faith and will now receive nothing.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[westonr]

I think this is a really good point melanie - if NR don't accept my proposal tommorrow I may have to go to bankruptcy and then all creditors will recieve nothing. At my original creditors meeting I got 60% accpetance, basically all other creditors accepted - its a shame that there is not a system yet that allows you to have an araangement with all the creditors that have accepted, maybe that may happen in the future.

[MelanieGiles]

It will be happening from April 2008 onwards, but only for those people who owe less than £75,000.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[rachel33]

Thats great news melanie, it wouldn't have applied to me as I owed more than £75K (I know - even I can't believe it) but it should be a help to others in the future.
Rachel