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| russ__01 |
Posted - 20 August 2008 : 05:51:56
I have Debts of £31,000 and negligible assets. Am I eligible for Bankruptcy and how do I go about instigating the procedure.?
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| 1 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 20 August 2008 : 08:23:55
Hi Russ and welcome.
We would need a bit more info, like what you have left per month after paying essential living costs, ie disposable income.
Do you have enough to go for a DMP Debt managment plan which is less drastic.
You saay you dont have any assets so for you it may be a good idea, I dont 100% know what you should do as its all dependent on your own circumstances.
If you do wish to declare bankruptcy then it is possible to do it yourself but you should really get some professional advice first, our experts on here are more than willing to advise and then you can take it from there.
You can pay to get someone to do it for you if you dont feel confident doing it yourself or you can fill it all in online at:
http://www.insolvency.gov.uk/
Here you register and fill in the form at your leisure and when your ready submit, print of 3 copies and take to your court.
As I said though it may be worth getting a bit more advice first, I did and then I knew I only had 1 option left which is what I have done now.
Keep posting hopefully I have given some advice, but a bit more if you dont mind on your situation like I said what you have left per month, etc, etc and the experts here will be able to offer more if not better advice than me, I can only go by what I know and that is not a lot.
Thanks
Jo
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!" |
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