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... I did it!
As of yesterday, I am now Officially BR. Do I get a badge or anything??
Procrastination over with!
It reached decision point, where my tenant had moved out and the house was in a mess. I didn't want that hassle again, especially when I wasn't making any money from the property. I'd decided to go for it, and had to arrange the date and time. During which, I got 2 months in arrears with the mortgage payment.
I moved all my Direct Debits to the 1st of the month, as I'm paid on the last working day.
I spent the first week of the month withdrawing money like mad, to get the £700 for court, and my cash for the month.
I filled in the forms the night before ... BIG MISTAKE. Get those two forms (6.27 and 6.28) filled in as soon as you can ... they are horrendous!
The week before I made an appointment at court for 9:30am. I got to court at 9:15am. Waited for the clerk to arrive. The waiting room already had a few people in there, and she said "Can I help". I had to explain that I needed to file for BR. This was the most embarrassing part of the whole time there.
The clerk sent me down the cashiers office, which apparently was closed until 10am ... but they open it up early for BR candidates. Excellent ... money paid, forms submitted ... I had to re-sign them in front of the cashier as I'd signed them the night before! ooops!
I was then sent back to the clerks waiting room. I was sat waiting until about 11 am, as the judge was busy with other cases.
11:10am I entered the judges chambers (his personal office, not the court room). He greeted me and asked me to sit down. He confirmed I was there to petition for BR; asked if I had sought advice; confirmed the total unsecured and secured debt. He then said "Do you believe this is the best course for you". He then signed the order, and wished me "Good luck". I was out of there in less than 5 minutes.
I popped back to the cashiers office, where they gave me a copy of the order; the details of the OR's office, and took my contact details again.
The OR had called before I'd even managed to get home, and they took some basic details.
I've since spoken to the OR two or three more times, for general queries ... and they are very friendly and polite.
I still have to go through my SOA with them, and I shall assume that I'll be paying an IPA for three years, and not sure how skint I shall be.
But for anyone considering BR, I really do feel a sense of relief. You're not judged (per se), no-one shouts at you and asks why you've got into that mess, and the people at the OR are lovely to deal with. The paperwork is long winded, but it's aimed at small businesses as well as individuals and has to cover every base. Take time to complete it, be honest and accurate and you'll be fine.
As of yesterday, I am now Officially BR. Do I get a badge or anything??
Procrastination over with!
It reached decision point, where my tenant had moved out and the house was in a mess. I didn't want that hassle again, especially when I wasn't making any money from the property. I'd decided to go for it, and had to arrange the date and time. During which, I got 2 months in arrears with the mortgage payment.
I moved all my Direct Debits to the 1st of the month, as I'm paid on the last working day.
I spent the first week of the month withdrawing money like mad, to get the £700 for court, and my cash for the month.
I filled in the forms the night before ... BIG MISTAKE. Get those two forms (6.27 and 6.28) filled in as soon as you can ... they are horrendous!
The week before I made an appointment at court for 9:30am. I got to court at 9:15am. Waited for the clerk to arrive. The waiting room already had a few people in there, and she said "Can I help". I had to explain that I needed to file for BR. This was the most embarrassing part of the whole time there.
The clerk sent me down the cashiers office, which apparently was closed until 10am ... but they open it up early for BR candidates. Excellent ... money paid, forms submitted ... I had to re-sign them in front of the cashier as I'd signed them the night before! ooops!
I was then sent back to the clerks waiting room. I was sat waiting until about 11 am, as the judge was busy with other cases.
11:10am I entered the judges chambers (his personal office, not the court room). He greeted me and asked me to sit down. He confirmed I was there to petition for BR; asked if I had sought advice; confirmed the total unsecured and secured debt. He then said "Do you believe this is the best course for you". He then signed the order, and wished me "Good luck". I was out of there in less than 5 minutes.
I popped back to the cashiers office, where they gave me a copy of the order; the details of the OR's office, and took my contact details again.
The OR had called before I'd even managed to get home, and they took some basic details.
I've since spoken to the OR two or three more times, for general queries ... and they are very friendly and polite.
I still have to go through my SOA with them, and I shall assume that I'll be paying an IPA for three years, and not sure how skint I shall be.
But for anyone considering BR, I really do feel a sense of relief. You're not judged (per se), no-one shouts at you and asks why you've got into that mess, and the people at the OR are lovely to deal with. The paperwork is long winded, but it's aimed at small businesses as well as individuals and has to cover every base. Take time to complete it, be honest and accurate and you'll be fine.
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