not sure which option

[wantmylifeback]

I think my main concerns are:

filling out all the forms, they look so complicated

loosing the house and finding somewhere else to live

what they would take from us from our home

Did you do all of the forms yourself?

Thanks Skippy

[poppyfairy]

Hi Wantmylifeback

I went bankcrupt at the court on the 17th June this year (just over a week ago now.) The process has just completed with me talking to the Official Receiver. If you go on to the following CAB website http://www.ned-cab.org.uk/debtselfhelp/bankruptcy.shtml that will give you the most fantastic guide to filling in the forms. They give clear examples which helped me tremendously. It is really important that you get the forms done correctly. I did them in rough then re-did them in neat. In the court I went to the clerks are so busy and they got really hacked off with people turning up and expecting the clerks to fill in their forms for them. There was three of us on the day I turned up and I was the only one out of the three with the forms done correctly which made the clerk really nice to me and the process quick and smooth. It is a very emotional process and you need to make it as easy on yourself as possible so getting the forms right just eases that - the last thing you want is someone being off with you. But these examples from the CAB are brilliant and so helpful. Just scroll down the side to where it says about BR example forms.

Also make sure you read the questions at least a couple of times each to make sure you understand exactly what they are asking you. On first glance you can think they mean one thing when in fact it is another which changes what you need to write - ie they may not need as much info as you think.

My house has not been taken as there is no equity in it - it is in negative equity. Providing your mortgage payments are up-to-date and your home is in negative equity I understand from my OR that the home is safe.

Be prepared for your bank accounts to be frozen and for the banks to shut the accounts down. I got myself a pre-paid Virgin Card - as well as the CO-Op being fantastic and agreeing me to have a cashminder account so my money can go in there and my direct debits can leave there.

There will be a period of unsettlement - I am still in it and it is hard - but there is light at the end of the tunnel and as each day passes the light gets brighter!

I hope this helps. Good Luck and if I can help in any way just let me know.

Poppyfairy

[Skippy]

Sorry, I've only just caught up with this.

I filled the forms in myself, and I did them online on the Insolvency Service website - much easier than filling them in by hand as you could amend and save them as you went along! There are also tips as you go along to help you fill them in. Once you have completed them all you do is submit them online and print them off. One thing I would say is check how many copies your court requires - some want one, others want three.

As Poppy says it's important to get the forms right, but if you do make an error don't worry, it's not the end of the world. The clerks aren't there to fill the forms in for you, but they will understand that people make mistakes, especially when they are nervous. I made a couple of mistakes on mine, but the clerk amended them and I initialled them in front of her.

Don't worry about things being taken from your home. Unless you have anything of great value the OR won't be interested, and your household goods will be safe.

I went straight back to work after I went BR (I don't get a lot of holiday) but that evening I had a migraine. The following day I felt as though everyone knew I was bankrupt, but after that I pulled myself together and kept reminding myself that I had done what I had to do and there was no point worrying about it as it was done.