Really Confused Now - Don't Know What to Do???!!!

[snowman365]

Hi Melanie

Would I be expected to pay the OR from Canada though? Bearing in kind that for the first few months, I may not even be able to get work, and it may take a while to get a decent job...

[MelanieGiles]

Whilst you are subject to English bankruptcy proceedings, you have a duty to keep your Trustee informed of your circumstances, and this includes details of earnings. You will be assessed on the basis of your current earnings at the time of the bankruptcy order, but this is subject to ongoing review should those circumstances alter.

[snowman365]

Right, I see...thanks for the info.

[snowman365]

How long does the whole BR process take? from making a decision to go for it, and then being declared 'Bankrupt'?

I am still not sure how BR might affect an Application for a Visa in Canada though - have emailed the High Commission but no reply as yet...

I just want to get something sorted...my next lot of payments to my crditors are due on the 23rd. I have altered the payments to them to £10 each. Not sure if I've done the right thing or not???

Have got a new Basic Bank Account now though from Natwest - received new cash card today!!!

Am still thinking about going for IVA first, and then seeing how that goes, or is that a bad idea - should I just go straight for BR???

Feel like I'm going round the houses...

[MelanieGiles]

It depends upon how quickly you can complete the forms, and the system and waiting list operated by your local County Court.

Do not propose an IVA just to test the water. They are only suitable for people who are committed to a long-term repayment plan, and your circumstances and ambitions prevent you from doing this.

[snowman365]

Hi Melanie

Thanks - I appreciate your frank advice.

Can you recommend anywhere or anyone where I can get a straight yes or no answer about BR and Visa applications please???

Have I done the right thing by offering each of my creditors £10 each???

[MelanieGiles]

The only people who can confirm the effect on your visa are the High Commission as they are the ultimate decision makers.

The payment of ongoing token payments is fine - and at least it keeps the wolf from the door in the meantime.

[snowman365]

Hi!

Yes thought as much - the High Commission are an absolute nightmare to get hold of though!!!

With regards my creditors and making token payments, should I contact them to make them aware of this and that I am considering an IVA / BR, and if so, should I write to them or call them up???

[MelanieGiles]

It does you no harm to keep the creditors informed of your intentions. But I doubt it will stop the ongoing pressure from their collections departments.

[snowman365]

Alright Guys!

Long time no word...

Well, I have now stopped my full payments to my creditors and have reduced my payments to each of them to £10 each a month as a token gesture. The phone calls have started coming in - about 10 a day from HSBC and Cooperative. I am not answering them at the moment, but have just sent each of my creditors a letter explaining my situation.

I am going to hold out until at least my next pay day and try and put away a bit of money - my car is in a really bad way at the moment and as I am going to Canada I am going to need about £2,000 to sort out Visa's, flights etc.

I still think BR might be my better option, but I have a few concerns, which are:

Having to declare to my work that I am now BR.

My BR being advertised in the Local Paper (I work in quite a high profile job for a Local Authority - there are often pictures of me in the Local Paper - might look bad a picture of me on the front cover doing good community work and my name in the back as being BR!!!)

I live in rented shared accommodation - my housemate is worried about what effect would BR have on him, if any at all???

How BR might affect my chances of getting a Permanent Residency Visa for Canada??? The Canadian High Commission are a nightmare to get through to!!!

Anyone got any advice / suggestions???

[MelanieGiles]

No more than I gave you last time you asked. The answer lies in the High Commission I am afraid.

[snowman365]

Ok, how about the effect which BR might have on my housemate, if any at all???

[MelanieGiles]

It will have no effect on him at all.

[plasticdaft]

Is it worth making token payments given that any interest charges will wipe these payments out completely so arent they a waste of money(which is what we are all short of)?? Just wondering??