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T O P I C R E V I E W
alia
Posted - 25 October 2008 : 10:14:09 hello, Im just wondering if their is a limit or how much debt you have to be in to declare bankruptcy? as im about 5000 in debt and am unemployed and 6 months pregnant with an 8 monthold too but am on my own on a very low income and can only just scrape by paying the normal bills like rent electric and stuff so i have letters coming from bailiffs but cant pay would i qualify for bankruptcy?
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Needafriend
Posted - 25 October 2008 : 13:05:48 Hi Alia and Welcome to you.
Have you thought about IVA's or a DMP. As you have a small debt which may be sorted via one of those plans although no i dont think it would be impossible for you to declare BR.
Do you have any assets like a mortgaged home or a car.
What if any money do you have left per month after paying your essential living costs not including the payments you should make to your creditors as the above plans need some disposable income to be able to go onto to one of those.
Thanks
Jo
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For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
