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T O P I C R E V I E W
little-kim
Posted - 01 February 2009 : 23:18:46 Hi i have 11 seperate creditors that i owe to, some of which i have in the past offered a fixed monthly payment to,but now cannot afford to pay them, can i still apply for bankruptcy or am i tied in to keep paying?
2 L A T E S T R E P L I E S (Newest First)
Melanie.n
Posted - 02 February 2009 : 10:10:23 Hi there
I would recommend you speak to an independant advice service such as the Citizens Advice Bureau, Consumer Credit Counselling Service or National Debtline or contact one of the highly recommended Insolvency Practitioners who appear on our sister site iva.co.uk - who ever you chose to speak to will go through your whole debt situation with you and advise you as to the best options available to you in your current personal circumstances. Don't just think that bankruptcy is the only option - there are many others but whether or not they or you are suitable for them can only be decided by fully exploring your present situation.
If I can help you further or answer any queries or concerns you may have please feel free to post away
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service Insolvency Manager Jones Giles 01446 711780
Reviva UK
Posted - 01 February 2009 : 23:31:17 Hi
the agreement you had in place was not bonding upon you or them.
So yes you are able to petition for bankruptcy.
You should however review your income / expenditure and fully explore all your options before deciding to pursue this route.
At the very least if you see a judge you can then clarly demonstrate that you have thought through your options and understand the consequenses.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
