BR QUESTIONS

[KADGE]

Hi All
Last week we were ejected for IVA and now going BR, need to try and get the money together as 2 x 485 is a lot of money to find when you don't have any. What happens inbetween, what do I tell by creditors, it will probably been about 6 weeks before we can get the money together and I am scared to death of having people banging on the door demanding money or goods until it has gone through. Will we have to pay toh ave the house valued, again this is more expense

Will this feeling of utter panic and being ashamed of yourself ever go away

PLEASE PLEASE HELP

[Adam Davies]

Hi
Inform any creditor that contacts you that you are declaring bankruptcy in a few weeks.If you have no court action at present[county court judgements] then by the time any is started now you will be bankrupt by the time that they could get a court order for bailiffs to attend.
You will not have to pay directly to have the house valued,it will come out of the sale proceeds.Do you have any equity ?
Regards

[aguise]

Dear Kadge please dot feel ashamed of yourself. You should be proud you have tried to do your best.. We are all here for support any time you need it. You will be fine.

Ang

[scaredkez]

kadge hang in there, 6 weeks will go faster than you think, when my iva was rejected i set up a dmp to keep the creditors at bay, it was for a very small sum until i could raise the 2 payments needed for BR, the phone calls kept coming but i explained what i was doing some said they didn't do BR and would make no difference they will string you many yarns but at least you know what you will be doing and the time scale you will be working too, there is nothing to be embarrassed about you have tried your best and Br is the final route you can take, good luck.
kerri

[MelanieGiles]

How silly for creditors to reject your offer and now potentially get nothing under bankruptcy proceedings. It is unlikely that you will be subjected to much creditor pressure over the next few weeks, and even if you are you can put this behind you when you are eventually able to petition.

Make sure you check how long the waiting list is at Court, as it would be awful to take six weeks to save the money up and then find there is a six week wait.

[Soulgrowth]

Good luck Kadge ... BR will give you fresh start ... it wont be long before all this is behind you.[:)]

Debbie

[KADGE]

Thank you so much for all of your kind words, I know that things will get beter, I don't think they can get any worse. Reading this forum has given me so much hope. I think I will book us into the court for 6 weeks time, I am sure we will ge the money by then and Like Melanie says I don't want to delay things further .

[Soulgrowth]

Kadge ... not sure what your debt situation is but presumably you have stopped making monthly payments to credit cards etc.? As you can always use this money for your BR fee if so. When it looked like I might have to petition for BR (still might have to) my IP told me to stop making my IVA payments to raise the money for the BR fees.

Debbie

[KADGE]

Hi
Inform any creditor that contacts you that you are declaring bankruptcy in a few weeks.If you have no court action at present[county court judgements] then by the time any is started now you will be bankrupt by the time that they could get a court order for bailiffs to attend.
You will not have to pay directly to have the house valued,it will come out of the sale proceeds.Do you have any equity ?
Regards

Thanks Dave
We don't have any equity, I have just seen the last valuation which was done in 2005, hopefully the court might accept this as I don't think the value has gone up much, we don't live in the best of areas, it would be a shame to lose it after living here for 23 years, would almost have paid for it now if things had been different. The valuation stated that for mortgage purpose is value is 80000 and for a rebuild 89000, our current mortage is 73500 and a secured loan of 181000, so I don't think there is anything left.
Once again thank you so much for replying

[Skippy]

Good luck Kadge. When I went BR I used the money from my IVA payments to raise the money - can you use the money that would have been paid into your IVA?

[chris.g]

I just wanted to wish you luck, Kadge. We've just declared and it wasn't as bad as we thought. It will give you a fresh start from your situation.[:)] xx