My creditors meeting is on Monday 7th September

[kallis3]

And I agree with Angela that Skippy's blog is a good source of information.

[Julie]

Hi - the bank account won't be frozen atraight away...its not the OR that freezes accounts, its down to individual banks. Withdraw all the cash from your existing account and on the day you go BR, go and open another account.

I agree about Skippy's blog, it helped us no end with BR. Although I have to say, I didn't find the BR website any use at all...always got the answers and support I needed on here.Just my opinion of course.

[danny4]

Thanks for all te help on here. After talking to Michael and family we have decided to go down the route of BR. Our meeting is the 22nd October at the court. Just wish we could hurry up and get there. We have changed our phone to caller ID so that we can pick up when we want to.
1. Has anybody had a nationwide flexaccount(only the basic one) we wondered if we needed to change before BR. We don't have any debts with nationwide.

2. For the IVA which failed payplan did an online valuation of the house. Will this be Ok for the official receiver?

3. We are in negative equity and my dad is going to purchase the beneficial interest. How and when should I let the OR know.

Any help would be great as it always has been.

[Pennyless]

Danny dont know much about BR, but just wanted to wish you well on your journey.

Good luck.

[danny4]

Thanks pennyless. Can somebody tell me what a stay of advertisement is. Seen it mentioned before.

[Skippy]

A Stay of Advertisement is an order preventing your BR being advertised in the press. However for this to be granted you would need a very good reason, such as a threat to your personal safety.

These days not all bankruptcies are advertised in the paper, it's now at the discretion of the OR.

[Julie]

Hi Danny

I would be prepared to have to open another account. When my hubby went BR his name was on my Halifax account and that got frozen. ....despite no debts with Halifax and I had no debts whatsoever.

When you speak to the OR, ask them about the online valuation. I can't see why they wouldn't accept it. At the same time, let them know someone is interested in buying out the BI, they'll send you a leaflet explaining all.

All courts are different, but on the 22nd you'll probably have a very brief telephone conversation with OR. They'll arrange a further date with you to go through all the paperwork, then they'll decide what if any monthly payments you need to make.

[danny4]

I had an interesting conversation with one of Michael's team today. Northern Rock are now open for me to put in a new IVA proposal and stay on a repayment mortgage. Well consider the proposal anyway. I am not going to cancel my BR date of the 22nd October in case it doesn't come to fruition but was told they will fast track it through. Not sure what other conditions Northern Rock will want but expecting they may want six years. Quite a big turnaround from it must be interest only. We shall see what happens.

[Shining]

danny4 you've had a big journey in a short space of time, I wish you well in whichever route you choose to take x

[danny4]

It seems like a long journey. Everybody is so helpful. It's nice not to be judged as I do enough of that myself.

[kallis3]

Good luck from me as well. I hope you get it sorted out and that Northern Rock see sense if you decide to try for an IVA again.

Please don't judge yourself too harshly, there are so many people in financial difficulties, this forum doesn't even begin to touch the tip of the iceberg.

We certainly won't be judging you - we've been there![:)]

[danny4]

With Michael's help we are proposing a new IVA but have kept the bankruptcy date as we should be able to get a creditor meeting before BR court as long as returned by Monday. Sainsburys loan or somebody representing them has been in contact with us and even though told them what we were trying to do have told us they will take action within the next 14 days. Didn't say what the action will be but obviously I will keep Michael's team involved. Have had a couple of default notices from other people.
Really stressful time at the moment.

[Pennyless]

Danny4 hang in there matey....i'm sure it will come good in the end.

[kallis3]

Danny I hope everything works out for you. Michael will do his best for you.

Keep us informed.

[Julie]

Try to keep strong Danny, we're all rooting for you.

Don't worry about threats from creditors, you'll find a solution soon.