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T O P I C R E V I E W
jason.r
Posted - 16 February 2009 : 21:59:31 I have been told it is better to wait until one of my creditors applies to make me bankrupt, rather than declaring myself. Is this true?
Will it affect my credit rating even more after the bankruptcy is over, if I declared myself?
4 L A T E S T R E P L I E S (Newest First)
givemestrength
Posted - 17 February 2009 : 21:54:35 if a creditor does it does all other creditors get included? and is it worth all that waiting for telephone calls and knocks on the door?
pix1
Posted - 17 February 2009 : 21:51:06 It could be worth you posting to outline your circumstances so we can help you decide if it is better to go ahead yourself. You do get more control of the situation by stomaching the fee and petitioning yourself. You could wait for ever if you wait for a creditor to do it.
Reviva UK
Posted - 16 February 2009 : 22:13:43 Hi
it can cost a creditor up to £2000 to make you bankrupt so whilst you may get threats about Br it is actually only around 15% of Bankruptcies that are creditor let and a huge proportion of these are from HM Revenue & Customs.
I always believe it is better to be in control of your own destiny and decide what happens to you and when.
If Br is the right solution then take control yourself.
Posted - 16 February 2009 : 22:03:17 Hi and welcome Jason :)
I don't believe it makes any difference, except obviously it will cost you the £495 in fees. I think what you need to consider is can you wait? Do you have any creditors that have CCJ's? Can you cope with the phone calls? You need to think about the waiting process if you decide to hold back.
