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[Piston broke]

Forgot to say, congrats on the hubby getting a job

[patch]

Hello Hills

Just one note of caution re bank account opened before, we did have a Nat West account that was basic, no chq book or overdraft etc as we had been in a IVA and it was in credit. The official receiver did immediately write to them to state no interest in the account, but Nat West did freeze it. They then charged us a monthly maintenance fee, and it led to the OF writing to them four times. We had to just keep referring it back to the OF every month when we got statements as Nat West refused to discuss the account with us, just stating it was frozen. After five months We received copies of all the letters the OF had sent to them, with a apologie from Nat West. They did remove all charges and closed the account.

I do stress that this is our experience and lots of people on here have had no such problem so it is up to you to decide.

Now we are with the co op and that is excellent for us. Of course I think a lot of it comes down to who is dealing with your case, but we were turned down for several other basic bank accounts so I am very pleased I waited till the day of bankruptcy to open the co op account. If that account had been opened prior and there had been a problem I don't know who we would have been able to get a account with.

So the 31st October is going to be the beginning of a new life. As it is Halloween just think that at midnight when all the evil spirits disappear, so will all your debt! I would like to wish you all the best for the day. I hope that you know that the wishes of us fellow bankrupts on here will be beside you and your husband on the day.

How fantastic you both have new jobs. Good luck, and do let us know how it goes. I will be thinking of you both xxx

[hills]

hi everyone
just a quick question. we go to court next friday how long does it take from that day for bank accounts to be frozen and will we have lots of people phoning for their money. As of yet we have not missed a mortgage payment or anything else come to that. i have heard some horror stories recently that your house can be repossessed after missing only one payment. As we have to save a down payment to rent somewhere this will not give us much time so i am begining to panic.
Apart from the BR hanging over our heads life is not too bad living in limbo a bit as it all seems a little unreal at the moment we are staying strong though and have had wonderful support from family and friends. I suppose in this economic climate we are not the only ones going through this.
will keep in touch
hills

[patch]

Hi Hills

Its a horrible time whilst you wait for your court date. With regard to freezing bank accounts, our OR immediately informed Natwest on the day by letter. As you have to state the amounts in the accounts on the day of bankruptcy I would ask the OR if you are able to withdraw any funds for immediate living expenses but I would imagine that it will depend on the accounts etc.

We did have phone calls etc but we were told when we left the OF office just to tell them we had been declared bankrupt and refer anyone to the OR office. Letters were packaged up and forwarded likewise. I got photocopies of the bankruptcy order and put a covering letter in to anyone who was persistent.

With regard to mortgage I cant honestly say? You previously said you will lose the house, so I wonder whether paying a extra month is going to have any delay on that?? Hopefully someone with experience in this will offer advice to you.

Easy for me to say but try not to panic, in a week you will be in the better stage. Sounds strange I am sure but I felt alot better once I knew what the processes were going to be.

Do let us know how you get on,

[hills]

hi
all done and dusted today we are officially BR. It took all of 2 hours and most of that was waiting in the queue!
I must admit to being relieved that the court part is over. The judge who we saw for 30 seconds was lovely so understanding. The court usher was helpful and considerate.
When we arrived home i had a call from the OR who asked a few basic questions and kept telling me not to worry any more.
I have to talk to him again on Mon or Tues and hopefully then he will talk to my husband too as he hadnt had his details from the court. I just hope we dont get different OR s but i suppose that might happen just takes twice as long.
So there you go 25 days since we made the decision and we are BR.
Things must only get better from now on in

[Thomas]

Hi Hills
Read your previous post and since then have been waiting for your report of today's proceedings..!

Isn't the actual act of bankruptcy simple? 2 minutes at most before the judge, a rubber stamp and signature and off you go, without the debts..... Like you, I found everybody at the court polite and helpful which makes things much easier. They see it every day so no point in being otherwise..

All the best for the immediate and the long term future

[Piston broke]

Hi Hills
Glad to hear all went ok for you both. Bet you sleep well tonight

The OR's arent to bad, they do try and help if they can. I was worried sick going to our interview, but needent have worried as they were ok, asked if we wanted tea or coffee before we started the interview.

Didnt really hear that much from them all the way through the bankruptcy, couple of forms then a letter telling us we had been discharged two weeks before, only did 9 months. Sounds like we had been inside putting it like that

Anyway, good luck in whatever the future brings you both.

[patch]

Hi Hills

Thats great news. Hope that now you can relax a little and move on into the next phase of your lives with ease. Good luck with the future.
x

[marine_boy]

hi
all done and dusted today we are officially BR. It took all of 2 hours and most of that was waiting in the queue!
I must admit to being relieved that the court part is over. The judge who we saw for 30 seconds was lovely so understanding. The court usher was helpful and considerate.
When we arrived home i had a call from the OR who asked a few basic questions and kept telling me not to worry any more.
I have to talk to him again on Mon or Tues and hopefully then he will talk to my husband too as he hadnt had his details from the court. I just hope we dont get different OR s but i suppose that might happen just takes twice as long.
So there you go 25 days since we made the decision and we are BR.
Things must only get better from now on in

Not sure if congratulations are in order, but very very pleased for you both.
WOW you can answer your phone and open your post now with not hesitation, I would love that!!!

Please post updates on how the bankruptcy is effecting your day to day life. living, jobs, kids holidays etc. this would we wonderful and informative to hear.

Well done anyway this takes alot of courage. I am sure we will all learn a great lesson after bankruptcy and how to deal with money and debt in future, they should put money management and debt on the school curriculum along with cooking and homeskills!!!

thanks again for your posts!

[hills]

Hi
Filled in more forms from OR so that he can talk to us next week. Took all day but they are now in the post.
I start a new job on Monday one that pays really well. Hubby is still looking the one he was offered was withdrawn on the day he was meant to start................. he was just on his way when the company phoned and said they were reveiwing their staffing so the job wasnt there any more!!!
He has had a few interviews but no offers at present. I am not sure how this will affect us when we need to rent some where but we will see what happens. What will be will be. One thing is for certain i will never have a loan, hp, or credit cards ever again its cash only and if we havent got any then so be it!
Feeling more confident than i did just trying to keep hubby feeling ok.

I will keep in touch

Hills

[Piston broke]

Thats a bit of a bummer, regarding hubbies job. Im sure something will turn up pretty soon.
Glad to see you are feeling more confident and obviously happy too, its a great wieght off your shoulders once it has been done.

And like you, I will never have any credit again. It actually gives you a sense of achievment paying for something in cash.

[patch]

Time to update a bit more

Seven and a half months on from the first time I posted our story on here! There's been points when I thought that we would not get to this point let alone ever be able to see the light at the end of the tunnel.

Our cases have been passed to the RTLU, but not convinced what exactly that really means. Heard nothing from them to date. From what I can gather it is just the next part of the process.

Generally life has not been too different financially than prior the bankruptcy as we had no money then either. Ok we are answerable to the officials, but before that it was the IVA and before that to the banks!

I would not like to say that this has been a good thing because at the end of the day that would undermine our responsibilty to the debts we had, but given the fact that this is the position we are in, there are many ways for which I am really grateful. We have recovered from marital problems (sure lots of folks in financial difficulties will understand that) and now have a much happier home life for us as a couple and our kids. There is no more sitting up in bed crying at all hours and snapping at each other. Well to be honest I still snap but that's just life! We are able to enjoy each others company without the constant pressure of working and living together. We cant afford any luxuries but we are living just about ok. I am saving on everything with lots of vouchers and coupons, and I am especially grateful that I have kids who understand that whilst we don't have the money for great x mas gifts etc, they have a good strong family. My husband is working and loving his job so we are both pleased that it is looking like a better balanced future.

To anyone who is reading this and having to face bankruptcy, I would say this site has been a God send to me. If you can come on here for advice, support or even just to share your feelings it is brilliant. No one has ever judged me and at many times it has been essential to my emotionally and mental well being. There are people on here who I will never met but who have given me the strength to keep going. I just hope that one day I can be such a good friend to someone.


Patch

[Piston broke]

Hi Patch.
Glad to here that everything is looking a lot better than 7 1/2 months ago.

My kids were exactly the same once we had explained what was going on with money and stuff. I think we should give the kids credit for being understanding in these times.

At least this Christmas you will all be together around the dinner table and although the pressies may a bit thin on the ground this year, at least you are together as a strong and loving family which has got stronger as the months have gone by and through times of great stress and anger.

That light at the end of the tunnel is not too far away now and its a relief when it does finally arrive.

May I be the first to wish you and your family a very merry Christmas and a fantastic New Year.

Geoff.

[patch]

Hi Geoff

Thank you so much for your kind words. We will actually be having our x mas a day late as my hubbie has to work x mas day and overnight, but it will be just the same. On Christmas day I am hoping to accomodate my uncle who is single. As my Nan passed away in June it will be the first Christmas without her at the table and that will be more upsetting than any worry of lack of gifts. What ever the day will bring it will be filled with love and happiness. I hope that you have a very enjoyable day to with your family. You are right, we do underestimate our kids ability to understand. My kids are aged between 7 and 12 so its amazing to know they are so adaptable to the situation.

Thank goodness for poundland and car boots! It is so much more fun with a sense of achievement when you grab a bargin.

Best Wishes

Patch

[hills]

hi to everyone
today i had my phone interview with the OR. all matter of fact at the end he said i probably wont hear from him again and wished me luck for the future!!!!
he did say that he wasnt really interested in our home as there was not too much equity in it and to wait to hear from the mortgage company. so a question for you. what and how long will we have to wait to be repossessed or will we be advised to sell house? When i phoned mortgage company to inform them of our position they said they were aware we were BR and would wait to hear from OR and not to worry! Why do people say that i am worried as i dont want to be dumped on the streets with little or no notice.
On a brighter note my new job is fantastic just what i need full time work to keep me occupied. Hubby has an interview tomrrow so please keep your fingers crossed for him.
My daughters are being really supportive contributing where and when they can one is at uni and one works for a legal firm!! very apt.
Well thats the story so far. Christmas is fast approaching and i feel much happier than i did last..................... maybe we will have a good one.
until the next update, thanks to everyone who has kept me sane.
hills

[patch]

Hi Hills,

I always say don't worry! worrying just makes you feel ill. But I am the worst at worrying. One of the things I have learnt is that the worry has not achieved anything. Just try as hard as you can to take one day at a time. It's brilliant you are enjoying your job and good luck to your hubbie for his interview. Hopefully as we see in the New Year it will feel like its all coming back right for you. It sounds like you have a wonderful family who are all standing together, and that is more important than anything.

[Piston broke]

Hi Hills
Glad the OR was ok with you and its almost done and dusted.
It sounds to me as though the OR will not want the house, great news if they dont, as long as you can keep up the mortgage repayments each month then I dont see any reason the motgage Co would reposses as you say you are up to date with the payments.
I believe that the OR will keep an interest in the house for 3 years just in case house prices start to rise again. HG or Thomas will probably be able to clarify that a bit more for us.
Good news about the job and good luck to the old man with his interview

Regards

Geoff.

One other thing, you may get letters from various DCA's telling you that they have bought your debts, its nothing to worry about as they have bought then hoping to make a few quid from the OR, yeah right

[hills]

thanks for all the advice and kind words.
the thing is with me being the sole earner at present we cant afford mortgage payments we will have missed 2 payments by the end of this month.
will we be taken to court by the mortgage company? i am worried about what affect this is going to have on us. I thought going to court for bankruptcy was bad enough i dont think i could cope with another appearance. i dont need this with my new job i cant be taking time off as it would make me look unreliable.
so where do we go from here?
problems problems!
hills

[Piston broke]

Me again

We had a house reposessed back in 1995 I think
We did have to go to court, but we spoke with the Abbeys solicitor before going in and said that we would not be fighting the repo at all as I had no job at the time although I was due to start one in the New year but it was dependant on me passing some exams and I didnt want to make promises I couldnt keep, regarding paying off any extra of the arrears.
We were in there for about half an hour all in, the Judge asked if we contested the repo order and we said no and I explained our situation and that was it, repossesed in 28 days.

Went to see the council and they told us to come back nearer the time. They rang us with a 2 bedroom flat and some money to redecorate the place. Six years later they offered us a nice 3 bed housing assoc house and we have been here ever since.

The problem I think you will have, is that because the repo would have taken place after the BR order, is that you would still be liable for the shortfall in the mortgage and any associated costs to do with the sale of the house.
It may be worth talking to the mortgage company and explain your problems and try and come to some arrangement over the payments for a while.
Not much help I know, but its the best I can come up with at present

Regards

Geoff

[patch]

Hi Hills

Would it be worthwhile putting your name on the housing list as a caution? Also have you looked at whether you would be able to get any benefit payments towards your housing costs? It may be worth speaking to the benefits agency or looking on line first, in case you are eligible for assistance it may just make any offer you make to your mortgage company a bit more acceptable.

Did the OR give you the booklet "what happens to my home"? That may give you some help.