Ok, its been just over a month of being bankrupt I thought i'd give some updates and ask for more advice.
I was called in for a meeting with the OR a couple of weeks ago. He went through all my cards, loans etc.
I basically now can get a family member to buy back the beneficial interest to my home to keep that safe so im happy there.
Its my car im a bit annoyed with.... Its worth £3445 on parkers. Its not much but for my job I get a car allowance, I travel 50 miles daily round trip plus drive to meetings across the country now and again. Yes they want to get rid and give me £1500 to £2500 to buy another one. I often have PC's and Servers in the boot so need something focus sized. All the cars I see for the minimum price have done way to many miles and wouldnt last 5 mins with the 15k miles PA I do. Then to top it all they wanted my car this friday and to give me a check for the money, that would be great with me trying to get to work for the next week! they wont even give me a clue as to how much I would get! I'm not happy about that! I phoned the OR and complaned waiting to hear back from them.
Is there a friendly family member or friend who could give you £1,000 on a temporary basis to buy out your interest in the car? I am sure it would not take too long to pay back, and it does sound that the car is pretty essential to you.
Or could your employer make you a short-term loan? I would do that for my employees.
Steve. Lots of questions.I am just at the beginning and advice re timing and details would be appreciated. I am panicking that it will all go wrong.Have just submitted my papers, 10 days ago but still haven't heard from Court.Lots of people say they hear and get a date within a week or two. Re your meeting with OR. I expected this was the process but loads on here have said they have had a telphone interview You said 'they ' re your car. Do you mean the OR office or is there someone else invovledI have heard the word -Trustee Does the OR oversee all dealings for 12 months ordothey farmotout to someone else? How involed and in control is the OR for 12 months ie do they want to see regular Bank statements to see what you are doing and the activity as how else will they know
The OR will only hand out the case to a private sector IP in the event that there re assets of material value to realise. With just a car to deal wtih this is unlikely.
They will want to see a full set of your documents initially, but will rarely ask for bank statments on an ongoing basis. And if you file a debtor's petition, it is unlikely that you will need a face to face meeting with the OR - unless you are self-employed or your affairs are complex.
Thanks again. Lots of questions and worries which is really a waste of energy and emotions as there is little that can be changed at the moment but as much accurate info as possible does help as it gives a small feeling of being in control.
Honestly don't worry about it, its such a nice relief once your bankrupt. Little word of advise though, usually you phone the court previous day and ask if they are dealing with bankruptcy the following day and you just turn up early.
The official receivers deal with all your assets, I have not had any problem with washing machines, tv's beds etc as they are all standard stuff they are just not interested in those items...
I have found a car to buy for £2100, its done 65k miles and looks mint condition so that will last for a while. I just hope they give me 2k for mine but I should be able to find some extra cash its payday tomorrow
Depends what court you are at as to whether or not you can just turn up.
Some of them need an appointment making and some have quite a backlog at the moment. I would advise ringing the court to make sure what their policy is.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I would ring the court too jripley, as Jan says different courts have different procedures.
Steve - is leasing a car an option for you, maybe you could ask the OR, see if you can get an allowance. At least that way you'll get a reliable car to ensure you can continue working.
Jripley, when you say that you have submitted your papers, do you mean you've submitted them online? If so, you still need to contact your local court to make an appointment.
Swans_girl wrote:
I would ring the court too jripley, as Jan says different courts have different procedures.
Steve - is leasing a car an option for you, maybe you could ask the OR, see if you can get an allowance. At least that way you'll get a reliable car to ensure you can continue working.
I looked into this but its too expensive I dont have the disposable income.
Thanks for the advic. I submitted online, then printed off and swore them with a solicitor before posting , registered to the High Court in London almost 2 weeks ago . I would have thought that I would have had some acknowledgement. Anyway I have now ,at last found the phone number. Other courts info are much easier to find. I intend to ring tomorrow. I was hoping to get some info re dates /timing before informing creditors and DMP. Worried in case the Courts say No. Should I be writing now to say I am applying for BR or wait until I see Court and OR
Do you mean that you turn up with your papers on speck and hope to be seen that day.I knew that I would have to go in person but thought that after submitting the papers I would then be given a date and time to appear . They have not sent them back or a letter telling me that I have done it wrong. Hopefully I shall get some clarity tomorrow
I would give the bankruptcy clerk a ring to check. I might be leading you up the garden path as it is a while since I was involved with anything in the High Court in London.
Generally most people just go along to Court with their papers on the day and an Order is made there and then - although it can be a bit time consuming.
