www.iva.co.uk

Will the OR ask for back statements for my credits cards and bank statements? What if I don't have them?

Also, I know its not ideal, but I have an appointment at the courts in 2 weeks time to go bankrupt, but can I still use my cards until then? Will the OR expect me to have not been using them for a while? Will the OR check? I only ask because I have only a small amount of money left on one credit card and I need some money to pay for a hob as I do not have one as the last one is now dead and I need brakes for my car and a other bits and pieces for the house. [:(]

Hi
I wouldn,t use credit if you know that you are going bankrupt.The OR may frown upon this.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Thats what I thought too. Whats the worse the OR could do?

The worst that could happen is that you could get a Bankruptcy Restriction Order (BRO) or Bankruptcy Restriction Undertaking (BRU). Although you would still be discharged after 12 months you would be subject to the restrictions of BR for up to 15 years depending on the length of the order or undertaking.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

If you are planning on going bankrupt please consider whether it is really appropriate to keep using cards!!! I was told that - once you are recognised as insolvent - you should stop using all forms of further credit. As soon as I started down the IVA road I cut up and returned all my cards. It is hard to go without things you want / need but I agree that it is not fair to continue borrowing if you are on the verge on going bankrupt.

Sorry if that sounds a bit mean but PLEASE do not keep using credit once you have decided on a solution!!! Much better to start as you mean to go on!!!

Good Luck!!!!

Hi....before i went br...the last time i used any credit cards was 3 months before, as soon as i had contacted the credit card companies i felt i had to live off of my own money (if poss) however when i contacted them i reduced the payments dramatically that i paid them each month £5...which helped a little to getting a few bits sorted out, like yourself...i told them that i was in trouble and would be sorting out my troubles and informed them, when i knew that i was going BR...i had never missed a payment prior to this, i got a few calls from them asking for more money but i had none to give more, it took a couple of months of underpayments for them to get the CCJ started to be put in place, by then i had the money for the bankruptcy and my few problems sorted out by then for a fresh start,hope this helps!

B word not as bad as you`d think ? (im gonna find out soon)Since found out and turned out great!!!