Bankruptcy threat

[chris.g]

You will be notified of the date etc. You will need to open a basic bank account as you will not be allowed to have credit. I can advice co-op cashminder, that's the one we have and it's got online/telephone banking, debit card, and you can pay cash into any post office for instant deposits.

[vicky 11]

One more thing.

I am due to upgrade my mobile phone tomorrow, I feel I need a mobile phone, well my Dad and my children like to know where I am every second of the day to be honest. My dad has only just stopped asking me if I got out of the shower alive. Would it be wrong to renew the contract knowing I am to be made bankrupt? My phone is on its last legs, it wont last much longer or should I just go on pay as you go.

I will open a cashminder account tomorrow when I go into town. I think there is a Coop bank there. Will I lose the account I have now, I have only a visa debit card, no overdraft, credit cards or anything.

[Skippy]

I was allowed to keep my contract mobile as Vodafone weren't one of my creditors. I think that providing you don't owe the company any money and you don't pay a huge amount each month you should be ok to keep it.

Who is your bank account with at the moment? It's not actually the OR who freezes your account but the bank themselves so it depends on them whether they will let you keep the account open.

[chris.g]

Me and hubby were allowed our mobiles, both £35 per month. Have a look on here,
http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=7238
it will give you an idea of what's allowed for expenditure in br. They are only guidelines, I put on the forms exactly what we spending and the OR just filtered through and said yes or no. Make sure all your allowances are covered, including things that you may think are luxuary like hairdressing and holidays.

oops, forgot the link....[:I]

[vicky 11]

Hi Skippy

I am with Lloyds tsb. I have a visa debit card but no credit with them. I dont owe any money to the phone company. It is a 25 pounds a month contract and i usually pay about 27 pounds a month by direct debit. I am quite scared now to be honest, I know it will be OK just the unknown I suppose. I wish I could just relax but I cant. Things just keep popping into my head. If only this company would just accept the offer, even if they cant accept it, they could have waited until I went back to work, I wont be earning anything like I was before but as someone has already said, health is so much more important than money. I will go back to the GP. They gave me something when I was stressed before.

I am kind of tempted to think, well sod it, I will take some of Dads money and have a holiday or something. I cannnot believe the attitude of this company, plus the other creditors who I have pledged money too will get nothing either. It makes no sense but I really cant do any more and I dont think it would be fair to ask Dad to cough up anymore either, even if he did offer it. So I kind of want this company to do it, just I am a little scared. Sorry for ranting on, if I would have had a crystal ball I wouldnt have been in the mess in the first place. I was very happy in my job, never missed a payment before this happened.

I have booked a hall for my daughters 18th birthday, its all been paid for, I am scared that this is going to be seen as wrong. I am scared of the judge and what they are going to say. I suppose everyone is, I dont have anything to show for the money I borrowed.

I still cant get over the way this man spoke to me, he laughed and said, well thats never going to happen. How can companies make a profit when they buy debts for peanuts and spend thousands on a bankruptcy? For only 2K debt? It makes no sense, what can they gain apart from rubbing my nose in it?

[chris.g]

Br is a way of dealing with debt that cannot be paid. It's not a punishment for not been able to pay it. You have your daughter's party and enjoy it, god knows you deserve to have a little fun!
As for that man on the phone, my way of thinking is....for every one person that looks down on you, there are 10 that would hug you. Put the call out of your head, it's not worth your energy.

[vicky 11]

Yes you are right, just trying to analyse the reasoning behind them doing this. Its been going on for a long time now, although I made full payments before I went on to half pay, I did write to them and asked about settlement. I made small payments to them with the half salary. I have tried my best, I must remember that and with them doing this, it will all be sorted out. Even if they did accpet the offer the other companies might not settle. The very first time I phoned for help, I was advised to go BR. I should have listened then, shouldnt I?

Thanks again

Thanks for your support.

[facingittogether]

hi vicki

i am so glad you have told your dad and children, you have really moved forward in the last few hours.

as for the a..hole on the phone, just ignore him, you are worth much more than him, like others have said its now their loss for not accepting your offer and being unrealistically greedy!

you are doing marvellous, keep yer chin up, we are all here for you!

love barb x

[Viki.W]

Vicky, I'm sure Chris and Skippy will confirm this, when you go to court, the judge will not go through all the details with you, asking you what you spent money on etc, you are usually with him/her for minutes and it's just in a room not a big court room, that is if you actually see the judge at all.

The Official Reciever will go over your financial affairs over the phone at a later date, but honestly, in your case, I don't think you've got anything to worry about.

I really can't recomment the BR sister site enough. Everyone has either gone through bankrupty or is thinking of it. Have a look, read as many posts as you can, knowledge is power.

http://www.bankruptcyhelp.org.uk/forum/

Viki X

[chris.g]

The judge didn't even ask how the debt had accumulated. He just asked if we had tried other ways to solve the problem. We told him we couldn't afford DMP or IVA and token payments were unrealistic. It's not as bad as what is imagined, as you say it's because you don't know what to expect.

[vicky 11]

Thanks everyone, I will go and have a look at the BR site now, print some stuff off. I am feeling OK now, even though its been a really tough couple of days.

Thanks to all of you. I dont know where I would be today if it wasnt for you.

I am very grateful.

[Soulgrowth]

Hi Vicky ... really good to see you making some positive steps forward today ... and you know that you are on the right track when you start to feel that sense of 'liberation'

Hang on in there ... you're doing great.

Debbie

[vicky 11]

Hi guys

Thanks for you lovely words. Just one quick question; As I am being made bankrupt for the smaller debt, will I get the chance to put my other bigger debts down? Is it worth me filling the BR forms in with everything, or is it just this one debt that will be included? How will that work with me being made bankrupt?

Thankds
Vicky

[Skippy]

Hi Vicky, once you are BR all of your debts are included.

[Soulgrowth]

Vicky ... this really is a way of you having a fresh start and clearing all your debts ... so every cloud DOES have a silver lining.

In some ways, if you don't mind too much paying the BR fees yourslf, you could take control of the situation and petition for your own bankruptcy.

All the best

Debbie