help before I make the final decision

[jss]

At which point does OR make a visit to out home to remove assets? Is it normally done same day of bankruptcy hearing? Thank you.

[chris.g]

The OR will not visit your home. You will hand them over if you have any, ie, car, expensive jewellery and the likes. They will advise you when you have the meeting with them.

[sjw]

with regards to the tax year thing does it matter ? what effect does it have on whether it is before of after new tax year. x

[Skippy]

You will normally get a Nil Tax Code for the tax year that you are made BR. This means that rather than your tax being deducted at source it will all be paid to you and you will then pay it to the OR.

The later in the financial year that you go BR the less likely it is that HMRC will implement the NT code. I went BR on 29th March last year and didn't get one.

[jss]

Need some advice from people that have been through bankruptcy recently, have to go to court tomorrow, really nervous as never been to court before, what will happen tomorrow? Thank you for all the help.

[chris.g]

Me and hubby filed on 13th Feb, (what a Valentine's, eh?) I was dreading it but it really isn't as bad as you imagine.
You first hand the forms and the fee to one of the clerks who will check the forms are correct and gets you to swear on the bible. Then you wait until a judge has time to see you. When we went in he asked if it was the only way, I explained that we did not have enough cash for DMP or IVA and that token payments weren't practical because of the level of debt we had, approx £75k. He then signed the forms and declared us br! You may have to wait for a phone call the the OR, we didn't but I think it was just because there were so many br's that day. Then you will have the OR meeting, usually within a week of filing.
I think the best think I can advise you is to try to remember that it is the begining of your debtfree future, something you have to do to get your life back on track.....
Good luck and please let us know how you get on,
xx

[chris.g]

I'll just add that it's normally a private hearing, only you and the judge, maybe a court official but it's not public,
xx

[jss]

Thank you Chris! I am somewhat relieved to hear about procedure from you, did they put you in local newspaper?

[chris.g]

Apparently yes, but we never saw it. The thing is it's a very small notice, and if your local is anything like ours they group br's together so your not alone.

[Oliver]

Good luck with the bankruptcy.

This will give the a fresh start and a bright future.

[Soulgrowth]

I just wanted to echo the same wishes jss,

Good luck for tomorrow, I am sure that all will go well for you, and you will feel relieved and as if you have a fresh start with none of the worries.

Fingers and toes and everything crossed ... make sure you let us know how you get on tomorrow.

Debbie

[Stell]

Hi - Im a newbie but I wanted to wish you all the best as well.

I filed for br many years ago before I was married, had kids or anything - I had a house but it was in neg-egg - I personally scared myself witless thinking about all the "stuff" - I couldnt believe the IS were so nice, it was all sorted ... and yes, it is the "start again" we all deserve.

Wishing you good luck.

Stell x

[Soulgrowth]

Hi Stell ... it's good to have the experience of someone who's been through it ... stay around, I am sure that you will prove to be a terrific help to other Forum members in the future [:)]

Debbie

[Stell]

Thanks Debbie

My o/h is now juggling, he had an accident, business down the pan, £32,000 debt - considering an IVA.

That's another post LOL!!

I am very happy to talk about my BR to anybody who wants to talk. It was filed in 1998 though so could be rules have changed? I dont mind expanding on the emotional side of things though - OMG I almost lost the plot totally at the time!
Stell x

[jss]

Wow, thank you all! You see my main reason for going BR is because of that shortfall after our home's been repocessed & sold for less than 50% of what we've bought it for. I could have negotiated on other unsecured debts, I am certain of that, but it turns out there is no way IVA will work out considering my disposable income as it stands. I just hope they will see that there is a genuine reason behind this. I will let you all tomorrow what happens or whenever it's settled. Thanks again for all the help & support.