Just gone BR after failed IVA, OR Phone call...

[flashingblade]

My husband and I have just come back from Court, having made ourselves bankrupt after our IVA had failed.

We are currently sat at home waiting for the OR to call us.

What will they say, and does anyone know of any questions i might want to ask them when they ring?

Cant believe weve finally done it!

[moretolife]

well done to you both...you get a bravery award for taking this step...i have no idea when the OR will ring but previous posters say they are usually very sympathetic
maybe skippy will post ....check out her blog...

[MelanieGiles]

It must be a big relief to now know exactly how you stand. Just answer the OR's questions honestly and the meeting will go fine. They will see that you have tried to address your debts, and for reasons outside of your control things have not worked out. Good luck and let us know how you get on.

[flashingblade]

Thank you
Its been a VERY long time coming, and im hoping that today has been the hardest step (though it felt very easy in court) and we were lucky that the judge did not want to see us.

Hope im not going to be sat waiting all day for the call, im already on edge!

We did see a rainbow as soon as we came out of court...we hope thats a sign of nice things to come!

[freelili]

I remember you so well, it has been a long time. I hope everything goes OK from now on, you sure deserve it. Having been in an IVA they can so see how hard you tried. Just try to relax now, hey? You are debt free.

[Skippy]

Hi Flashingblade, I'm glad you've got this bit over and done with.

I was phoned by the OR the day after I went BR. This was to arrange my interview date with the examiner and to confirm a couple of bank account details. She also confirmed that my car was exempt, although I understand I was lucky getting that confirmed as quickly as I did.

I had my telephone interview 12 days after I went BR. The examiner asked me what I spent the money from my loans on, and she didn't even mention my credit cards.

The best advice I can give you is to answer the questions you are asked, if you don't know the answer say so, and don't elaborate on the answers.

[liberta]

If you are worried about the phone call, why not take the bull by the horns and give the OR a ring yourself. The number of the OR's office should be on the bottom of the bankruptcy order.

Though your bankruptcy may not have been assigned to a case worker yet, they will be able to give you an idea of when you can expect the call. It can only act in your favour if you are seen to be proactive.

[flashingblade]

Thanks everyone.
The call was no where near as bad as i thought! The ORs clerk rang us and took some details, and he was so nice. Now we have to wait for a letter from the OR with an appointment to interview us, either over the phone or in person. We dont know yet.
Would someone just have a quick look at our I&E, and see if they think we will paying anything:

Income
Husband wage: £796
Tax credits £301
Incapacity Benefit: £300
Child Benefit: £76 = £1473

Expenditure
Rent :£435
Housekeeping inc food and cleaning £390
Gas and Elec: £100
Water £25
Telephone: £50
Travel £120
Clothing £70 (is that too much??)
Council tax £87
Tv licence £13
Car tax £16
Car Insurance £36
Car Maintenance £25
Internet £20
Mobiles £20. = £1407

Surplus £66, thats for a family of 3, 2 adults one child.

[jane.l]

I would not put Internet, I just lumped it under BT at £55 per month and nothing was said [;)]

[liberta]

It is probably unlikely that an income payment would be asked for. In anycase it would only be 60-70% of your surplus.

You have nothing in there for emergencies or haircuts by the way

[jane.l]

Have you got household insurance in there too?

We had a surplus of £20 but the OR was intent on getting an IPA, they disallowed house insurance and optician costs and holidays, etc, we refused to sign the IPA agreement of £52 they wanted and the next we knew, we both got ED, so don't be afraid to question it if they try and get an IPA[;)]

[flashingblade]

we dont have household insurance.
Forgot to put in for haircuts, and i wasnt sure if to put a contingency.
I read someones blog on here, and they had £300+ for travel, and £50 for a hol fund.
As for our internet, we are in a contract for another 17 months. We did that deal with aol for the free laptop, but have a 24month contract, so cant get out of it.

Jane - whats does ED stand for?

[MelanieGiles]

I cannot see an Income Payments Agreement with that level of income and expenditure - but please reconsider the need for contents insurance - if you were to lose everything in a fire it would be disastrous, and if you were to work out the cost of replacing all of your possessions and clothes you would be suprised.

ED stands for early discharge. If the OR believes that there is nothing else to do in terms of realising your estate, then you could be granted discharge from six months onwards.

[Shanks]

Is there a way I can save this thread as there is some useful info on here that I may need. Thanks

[MelanieGiles]

You can print it off using the option at the top of the screen, or save details of the web address which will take you right back to the topic should you need to.