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| jack65 |
Posted - 10 April 2008 : 20:24:15
I have 15k worth of debt, no assets and very little left over after all my bills are paid. Cant see me ever paying my debts off and want some direction.One creditor is threatening bankruptcy for £900 !! Told him that i could only afford £10 a month but he refused and said they would proceed.
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| 5 L A T E S T R E P L I E S (Newest First) |
| melanie_giles |
Posted - 11 April 2008 : 22:22:02
Where would you get the money from to offer 25% of the debt? You are right that this is possible, but this either has to come from assets or contributions of your own, or monies provided by a third party.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| jack65 |
Posted - 11 April 2008 : 16:06:51
Thanks for that. If i were to make a final settlement offer which is accepted how does a satfisfied mark on my credit actually help? Also is it true you can offer as little as 25% of the debt which may get accepted. It seems foolish to go all out to settle some of my debts if it doesnt shorten my poor credit status. |
| melanie_giles |
Posted - 10 April 2008 : 22:22:05
If they are going to pay for you to be made bankrupt, then that will save you £495!
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| Carl McMullen |
Posted - 10 April 2008 : 21:51:27
Hi Jack,
Which creditor is it ?
In my experience, it is unlikely that creditor will actually make someone bankrupt, i have only ever seen HMRC and American Express petition for a bankruptcy and see it through.
But as Brett says, with very little disposable income and debts of £15,000 then maybe that bankruptcy is not a bad idea.
Have you taken any advice ? |
| Helpful Advice |
Posted - 10 April 2008 : 21:14:41
Hi Jack,
With little or no assets and minimal disposable income then Bankruptcy may be the fresh start you need.
As you have said you can't see yourself ever paying the debt off, so I think this could be the right direction for you.
I hope this helps,
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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