Bankrupt and awaiting the official receiver telephone interview. Anyone give advice?

[DebtDevil]

Went bankrupt, had a brief conversation with the OR and telephone interview next wednesday!

I think i will get an ipo because of our earnings, how do they take the money? My wages vary from month to month and also have expenses but only for the fuel i use at work. Do they take everything automatically above a set figure.

Also if the ipo is high I will be reducing my working hours as I am not working for nothing. i know this may sound a little selfish. But ive spent years in debt paying interest and just cant hack the stress of it all and just want a fresh start. Ive been suffering health problems i think this might just give me the edge to drop from full to part time.

Worried about saying the wrong thing and having my bankruptcy in force for several years. My debt as basically built up over approx 6 years consolidate and spend with lower interest and shifting things around on cards and loans.Not expensive holidays or items, just the cost of living and spending over time surprising how it adds up always thought i would beable to pay it back but just got out of control!

Well enough of the excuses and sob story if anyone can give me advice would be extremely grateful ! Thanks

[Never-In-Doubt]

Re: Bankrupt and awaiting the official receiver telephone interview. Anyone give advice?

Sit tight. Riz and others are good with BR. Help will be here in morning.

[SXGuy]

Re: Bankrupt and awaiting the official receiver telephone interview. Anyone give advice?

Not sure about the ipo however in terms of saying the wrong thing and extending the bankruptcy, that won't happen. Only time BR is extended is if it's fraudulent i.e if you borrowed 70k with no intention to repay. So don't worry about that one

[Riz]

Re: Bankrupt and awaiting the official receiver telephone interview. Anyone give advice?

You would normally agree a set amount, subject to review, that you can pay by standing order or similar to the OR's agents.

Any IPA would last for 3 years, but the bankruptcy as in the length of time you remain undischarged would be limited to 12 months.

Bankruptcy restrictions can be extended if they think you acted dishonesty etc, but you would still be discharged after 12 months. From what you have said I would say it's very very unlikely they would even consider that.

The actual bankruptcy itself can only be extended by suspending your discharge at 12 months in cases where you refuse to cooperate with the OR. Comply with reasonable requests and you will have no problem.