Bankruptcy

[jojo]

Just thought I'd let all who have helped me with advise that we petitioned for bankruptcy this morning and all went well! Had my letter from DFD stating they had no objection to us petitioning, but no one even ased for it! The Judge just wanted to know if there was definately no way we could carry on the IVA. He was very nice and said he hoped it would be the start of a new 'financial life' for us as we had obviously tried every other way of dealing with the debt! Now I feel relieved and we are just waiting for the OR to contact us, which they said would be in 2-3 weeks! so to anyone failing an IVA and considering bankruptcy, so far it hasn't been that bad!
Jo x

[Lisa2009]

Great post that i'm sure will be a big help to anybody considering that option.

Well done you xx

[kallis3]

Glad it went ok jojo.

Great post as Mrs S says, and good luck for the future.

[Julie]

Glad it went ok -the OR call will be fine too xx

[Skippy]

I'm glad it went well. Try not to worry about the OR interview, I'm sure it won't be as bad as you think xxx

[tori]

So glad everything went smoothly for you Jo...it must be a huge relief for both of you...wishing you all the very best for the future. Take care xx

[debtmountain]

I'm pleased to hear that it all went well for you, Jojo[:)]..and yes, let's hope this is a brand new start for you all with a great future ahead of you as you really deserve it!!..keep in touch and let us know how things are with everything,won't you?..take care..xx[:)]

[jojo]

Thanks everyone!

[chardonnay]

Hi Jojo,
I'm so glad things went well for you and thanks for the inspiring post.
I'm just about to have to give up on my IVA and go BR as I can't cope and my I & E is just not working. Thank you for giving me renewed hope and confidence.
Chardonnay xx [:0]

[jojo]

Good luck Chardonnay. It took a lot of thought but we did it and I am positive it was the right thing. Hubby still doesn't have full time work and to be honest we are having a better quality of life now regarding time spent together and not scrimping and scraping in an IVA, which is what the last 3 years were like! We tried and it just wasn't going to work and the Judge even said this to us! Everyone we have dealt with during the process aswell, from our bank, IP, court staff, judge have all been fantastic! Friendly, professional and non judgemental, so really it hasn't really been bad at all! I hope it goes as smoothly for you!
Jox
(now I've said that though I will probably end up with some horror story about the OR! Lol!)

[Julie]

Chardonnay - knowing how you have tried to cope with the IVA, I don't blame you for looking at alternatives. You have to put your health and loved ones first and going BR will bring an end to the money worries.

Like Jojo - our judge also commented on how we had tried our best and there was no need to feel ashamed.We are already seeing the benefits of stopping struggling with the IVA - my car broke down today and its going to cost £200 to repair - in the IVA that would have been impossible, now I can get it fixed straight away.

The sense of relief is tremendous xx

[jojo]

OR interviews are tomorrow!! Sounds like a nice lady! Not too nervous now!

[kallis3]

Hope it goes ok jojo - let us know how you get on.

[jojo]

Had our interviews today with the OR and it was fine! They did got quite far back though! Even to when we sold our flat in 2003 before we got into debt! Was surprised that they wanted all details for this! Looks like we will get to keep our cars as both needed for work and not worth much and also looks like no IPA! I really thought we would get one, but it seems like they are treating us like two individuals, rather than in like the IVA when everything was lumped together as one! So as our monthly surplus is around £170, when it is divided by two it is £85 each. I didn't think of it this way, so no IPA! Because of the IVA we couldn't really remember exact dates for loans and cards etc, but they were ok with approximate dates, so all seems to be fine so far!

[kallis3]

Glad it went ok jojo. Good news about the IPA as well.

Hope it continues to go well for you both.