Comments for Piggy's bankruptcy blog

Comment on About Piggy Bankrupt by Somebody Else

Somebody Else — Thu, 25 Aug 2011 13:41:31 +0000

This is probably one of the best websites I have found regarding bankruptcy in the UK. I like the fact that the info is from a real personalised experience that people can relate to rather than just the facts from a ‘professional’ site.

However I feel that I am missing something. Lots of people talk about the stress and being scared. Am I supposed to feel this way too? Just not sure why I’m not seeing a light at the end of a tunnel. I can’t even find the tunnel.

I know what will happen, it’s just a process? Maybe I am lucky in that I have very little else to lose. I have an old ‘P’ reg car and live in a furnished 9 x 7 room. I sleep and go to work. I bring in less than £1k per month. So with absolutely no chance of paying my debts I guess bankruptcy is the right way to go. It’s just a process of tying up the lose ends rather than leaving a mess for somebody else to sort out.

The decision is made and just saving for the fee and timing it to end just before I my 50th. At least at the end I’ll be debt free.

Thanks again for a refreshingly informative bankruptcy site.

Comment on Tracy – bankruptcy restrictions by Veronica McGannon

Veronica McGannon — Sat, 06 Aug 2011 17:55:09 +0000

Tracy, I have just read your comment about your feelings during your bankruptcy. It happened to me nearly three years ago, I felt ashamed, dirty and the banks made me feel like a criminal. All I was tryng to do was to follow a dream, invested £150000 of my own money and it never worked. It was something I wanted to leave for my son and grandchildren. You seem to get thought of more if you want to sit on your backside and do nothing.
What you feel now will eventually go away, though it will take time. But hold your head high and carrying on beleiving in yourself. Good luck. Veronica. X

Comment on When I declared myself bankrupt by Susan Openshaw

Susan Openshaw — Thu, 04 Aug 2011 08:23:07 +0000

Hi Lynne

The Co-Op bank may give a basic account to bankrupts and if you cannot get a basic bank account there are other options for a small fee. Hope this helps and good luck for the future.
P.S Please do not feel ashamed, it is not your fault and there are plenty of us out here that has had to do the same as you x

Comment on About Piggy Bankrupt by Anonymous

Anonymous — Sat, 27 Mar 2010 13:06:58 +0000

To all those judgementals. In my experience those who have never made a mistake are those who have never tried.

Comment on Discharged from Bankruptcy by Anonymous

Anonymous — Tue, 09 Mar 2010 17:17:19 +0000

Hi, My husband and i have just been to hand in our petition today, we are going to attend court tomorrow we have been told what to expect and that we may have to see the judge we have also been told that the judge is there to ensure that we understand the whole thing and the chances of having an IPA/IPO. We have also been informed that the Clerk will make a call to the OR and leave us to have a quick chat with them… This is making me feel ill with worry, Why at forty something do we feel so scared and worried. I wouldn't say we have been irresponsible in our spending its more of a case of buying a house that at the time we could afford but due to change in health and jobs our income decreased. Even tho we still had holidays and treats like any family would. It was only when we sat down to go through our finances that we realised how much debt we owed.
For three months now we have been using only cash to buy things i wish we had done this earlier because hard cash makes you think before you buy… the usual questions like is there an alternative or do i really need this spring to mind.
We feel sickened because whats really damaged us is the secured loan we had on our house. It was a loan for 10 years after two years of payments and paying £14.400 they had a cheek to say we had paid £250 off the amount we originally borrowed.
I have been off work since December with anxiety chest pains etc i am still not ready to return to work as my brain only accepts one thing at a time at the moment until i can come to terms with losing everything.
After all my ramblings i feel much better now i have typed this. Your site is comforting to read and i will continue to read everyones comments.

Comment on Piggy’s thoughts on Bankruptcy by Anonymous

Anonymous — Tue, 26 Jan 2010 00:13:47 +0000

What a great blog. Its nice to feel that you're not alone, even though I wouldn't want anyone to feel what you must have felt and what I am feeling right now.

Still so many questions and so much uncertaintly but everything looks a tiny bit better than it did before I read this site.

Comment on About Piggy Bankrupt by Anonymous

Anonymous — Mon, 25 Jan 2010 23:39:11 +0000

After reading the first two or three comments on here I almost clicked off the page, but thankfully I chose to carry on reading and found support in the fact that many of the stories have happier endings.

Like most people writing here I have found this to be the most difficult decision I have ever taken - had I been living a champagne lifestyle of credit it might have been much easier, because I would have nobody to blame but myself and I would probably have a bunch of memories of great holidays and whatever else you do in that situation.

I'm 32 and i've never been out of work for about 14 years.

I started a business with a trusted friend of 10 years who turned out to have been a deceptive little shit playing a very long game, and he has tried to ruin my life - for what reason? Because HE wanted a champagne lifestyle without all the work.

It didn't matter whether his targets were big businesses, small firms, or individuals like myself. If they had any money or credit facilities they were fair game to be deceived out of anything they had. Yes, I feel stupid. No, I wasn't the only one.

I have a modest house, I used to drive a reasonable new car, everything was paid for with years spent developing a career and working long hours and making sacrifices to get the best jobs and quickest promotions. Sure, I borrowed money for things but never more than I could afford and I never missed a payment. Nothing that most other people in the same situation don't do.

I worked for the business I started - the one I left a good job to become involved with, and I did so mostly without pay and surviving on my life savings. I worked harder for the business than I have ever worked. I even had my family invest their savings because we thought we were onto something - and they were happy to because they looked over the material i'd helped my business partner provide based on information he'd given me and it looked great.

But as it turned out, everything he provided was completely and utterly made up.

Later, we find out that this guy has ordered company cars, spent more time abroad than he did at home (and not in budget accommodation either), he even did his weekly shop on the business account! But with all the meetings and promises never produced a penny of profit. Oh the meetings took place, just what we were told the outcome of each was, was evidently not what actually took place.

Because of this creature I am now writing this comment 12 hours before I go to the court to file my petition for a bankruptcy which isn't my fault - I should have done it 2 years ago but I thought I might be able to sort the mess out, i've stressed, lost sleep, fought battles and tried to go to work looking like I was in control of everything and keep up good humour. I could take some responsibility for being a trusting fool but I know that I am not the only one that was taken in - he even got money from a big bank!

Leading up to this, the first thing that has to go is your car if its worth anything, and they never sell for anything like you bought them for.

Then you have to consider the fact that you could lose your home, though hopefully not because for once in your life, you count yourself lucky that its worth less than you paid for it.

I'm single, so thankfully I have no kids or partner to have to explain this to - but at a point in your life when you think you might want to go out and see who you can meet, your confidence is nowhere near what it used to be.

And I feel bad, because I feel guilty - *I* feel guilty - for going bankrupt because I can't pay debts for money that was stolen for me.

Whats happened to the other guy? He's under investigation for sure, he's acted criminally for sure - but will anything come of it? Fingers crossed - but I just don't know.

So before you judge, consider yourself lucky that its us doing this, not you. And watch your back, because you don't have to be irresponsible to end up in this position - just unlucky.

Comment on About Piggy Bankrupt by Mary C

Mary C — Fri, 01 Jan 2010 21:33:45 +0000

I really feel for the lady who is so scared . I have been scared for years . Constantly expecting a knock at the door .I had nightmares about baliffs taking the childrens toys at christmas.
Yesterday everything stopped we finally gave in and went to court and became bankrupt ! My husband has great faith in people meaning what they say so for years he has believed people when they said they would pay and then disappearing off the face of the earth . We would re mortgage again and again .
He would pay his staff before us . I
clothe myself from charity shops we eat food at its sell by date - real high living ! I am almost grateful for the
credit crunch because at last so many of his clients went down he was forced to liquidate . We filled in the forms from the internet. We went to the court sat in a room with a very nice chap who corrected them .We swore an oath on the bible. We went upstairs to the judge
who put the time and date on the papers and that was it !! We need to see the
Official Receiver but I understand there is nothing to be feared .
Although well meaning people had told us
that our belongings would be taken to pay our debts it turns out we have nothing of value.No antiques .No expensive furniture jewlery,and electrical goods loose their value very quickly .I cannot put into words the relief we feel .Thank you to those of you whose experiences I found helpful.

Comment on About Piggy Bankrupt by Anonymous

Anonymous — Sat, 28 Nov 2009 12:19:15 +0000

My husband and I choose to file for bankrupcy, we went through with it on Wednesday. My husband was earning a good income until it changed in Feb of this year, not enough money coming in – too much coming out. As so many people have said circumstances do change, we tried our hardest to set up payment agreements, tried to go through an IVA etc, but in the end bankrupcy has been our only option. I am relieved now as we know where we stand. We have enough money to eat, pay our bills and have a roof over our heads. We have air in our lungs and each other. If anything some things are far more important in life. My advice to anyone going through the stress is.. nothing lasts forever try and be thankful for what you have got not what you haven't.

Comment on Piggy After Bankruptcy by Anonymous

Anonymous — Wed, 25 Nov 2009 16:03:57 +0000

I declared myself bankrupt just over 2 years ago I was 25 at the time, i have al;ways maintained full employment after and going bankrupt enabled me to get a job travelling the world as i didnt have to worry about the debts i had keeping me in england. I was discharged early after just 6 months so it doesnt always last a year. Never looked back, have even enjoyed adjusting to a life of pre payment and saving up, valuable lesson learnt, I never want ANY kind of debt ever again, saving up for things makes me appreciate them more!! It was a great feeling when i save d enough for my car and to insure it, small steps but feel fantastic!!