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| T O P I C R E V I E W |
| Callum |
Posted - 09 June 2012 : 06:48:34
Hi, I owe about £4500 to payday loan cOmpanines an due to this I have fallen behind in all house hold payments phone payments an so on, I'm onley 22 an whould like to know what my chances are becoming bankrumpt are, I work on national min wage an can not afford to live. If you can tell me if I can file an what my chances are will be a big help. Thank you |
| 3 L A T E S T R E P L I E S (Newest First) |
| year 2029 |
Posted - 13 June 2012 : 11:36:59
Hi Callum, and welcome.
As has been said, first port of call is probably your local CAB who will be able to advise and assist you with your next steps forward.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
| James Falla |
Posted - 12 June 2012 : 17:12:13
Hi Callum
I agree with Viki. If your disposable income (the amount you can afford to pay your creditors after your living expenses have been paid) is less than £50 a month then a better option for you would be a debt relief order as it will only cost £90 compared to the possible £700 bankruptcy fee. You should take some time to find out more about this option before deciding on the bankruptcy route.
Debt solutions expert and author.
If you would like further help or guidance visit www.beatmydebt.com
Alternatively I can be contacted via e-mail: james@beatmydebt.com |
| Viki.W |
Posted - 09 June 2012 : 07:05:51
Hi Callum,
Do you have any other debts?
If your debts are under £15k, you have no means of repaying them and you have no assets, then you may qualify for the debt relief order.
I suggest you make an apointment with a money advisor at your local CAB and they can go through your situation to see what's best.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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