A Free Bankruptcy, IVA And Simple IVA, Insolvency Advice Forum

[michelle7]

Hello Everyone

I am new here and have just joined this evening..... I will be filing for BR in the next month or so (as soon as I can get the Court fees of £495 together) and I must say first of all, what a fantastic site, and have been reading through all the forums and they have been really helpful to me so thank you Myvesta!
I am a single woman living in rented accomodation (my ex landed me in debt )- the 'usual' story I ended up lumbered with a load of debt, paying for all the bills, rent etc..... partner became abusive, possessive and suffered from OCD - after 2 years of what seemed like hell, I had the courage to end the relationship but ended up with the debts. As the next couple of years had passed I ended up with a consolidation loan to help pay these debts and ended up using my credit card to pay household bills, travel expenses to and from work, food shopping etc and have now ended up in the vicious circle of simply not being able to manage even though I work full time!
For the past 2 years I have become depressed however hopefully hide it well from friends and family, have become almost a recluse in my own home and just have the feeling everyday of being desperately unhappy. I have two cats - they are so precious to me and are the only things that keep me going and keep me sane!! I even have had suicidual thoughts but to be really honest I think this is a cry for help from me - I really do not think I would do anything so daft After hiding the fact that I owe over £27,000 in 3 credit cards and a loan I confided in a friend who has been fantastic as his parents were declared BR a few years ago. Also I have spent the last 3 hours on this site just reading the forums and they have been really helpful.
So I hope you don't mind if I ask a couple of what I would think silly questions.......I have been renting a one bed flat off a letting agents since Oct 2006 and have not missed a single rent payment or have never been in arrears. The flat is clean and tidy (in fact the previous tenants left it in quite a state and the landlord noted in my previous annual inpspection last year that the flat is in better condition now (i.e. I have painted the flat myself, bought new curtains etc etc at my own expense) I have read though my tenancy agreement and there is nothing about being BR. But I am still frightened I will lose my home if the Landlord finds out. Help!
This is a more daft question - I don't really have any assets - no expensive jewellery, I do not own a car, I take the bus to work, all I have in the flat of course is my own furniture and clothes. I do own several DVDs which I have collected over the years because I simply love films - I have about 200 - will any of these be sold to pay my creditors????? Plus I have a computer at home (like most people) I bought it in 2004 and my friend estimated it is now worth about £250 - are they likely to take my computer from me? It is one of the only things I like doing in my spare time - ie going on the internet and I 'chat' to my brother who lives in Thailand - I know this seems very trivial but I do not want these tiny simple pleasure taken away from me - this is seriously the only enjoyments I have at the moment!
Thank you again for reading my post! x

[Thomas]

Hello Michelle
Glad you found the site helpful.
First of all, your possessions will not be taken from you. The OR will only be interested in things that would bring him serious cash, like antiques or an expensive car.

Your flat rental agreement has nothing about bankruptcy so even if your landlord reads the publicity (does he live locally to you?) following your bankruptcy he would not be able to terminate your agreement because of it. Of course, he can always refuse to renew at the end of your current term but that can be for any reason. Unless he wants your flat back, why would he want to refuse a renewal when you are proving an exemplary tenant? If your renewal date is coming up soon why not negotiate it in advance of bankruptcy so that by the time the next renewal period comes up your bankruptcy publicity and dust will have long since settled and forgotten. You should certainly hold on to what you have got as it WOULD be much more difficult to rent elsewhere after bankruptcy when new checks are made.

Please seek medical help with any ongoing depression. Treatment will make you feel so much better. Two years ago I nearly went round the bend at the perceived disgrace and failure of bankruptcy, all of which proved quite unneccessary in the event. Following medication I felt so much better and I am sure you would do too.

Let us know how you get on.

Regards Thomas

[michelle7]

Thank you so much for your kind words and advice Thomas - it really does mean a lot
It is wonderful to know that there are some people out there who are really willing to help someone like me (and I know from reading this site that there are many) and it is really comforting to know that I can log on to this site and feel comforted - I just cannot wait until this is all over and I will certainly keep everyone posted on my experience through BR
Thank you x

[Mattyd433]

Hi

You have little to fear as it is very unlikely your landlord will ever bother to read the public notices let alone take any action. When you go bankrupt take the tenancy agreement to the OR as this may mean they do not contact your landlord.

All will be well.

Good luck

[michelle7]

Thank you Mattyd433 for your advice! This is is most thing that I am worried about is losing my current home as I honestly will have no where to go and there is no way that I can afford another deposit and rent up front for another Landlord. I do rent from a small lettings agents and always wondered to they actually go through the local papers to check who is and who isn't BR?? Is that what letting agents do???

Thanks again

[Hg]

If you are paying your rent, why would they want rid of you even if they did find out?

The problem comes if you have to move, but that's usually best dealt with by renting from an agency or private individual that doesn't have access to carry out credit checks.