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T O P I C R E V I E W
abimark
Posted - 23 March 2009 : 21:11:15 hi long story short my husband and i have to go bankrupt,for a large some of money owe to various companies,including the halifax home we owe approx 42000 for obvious reasons and along with most who go bankrupt we cannot afford the 1000 fee,is there a way for us to ensure one of the many companies we owe to make us bankrupt
1 L A T E S T R E P L I E S (Newest First)
John
Posted - 23 March 2009 : 21:56:29 Hi
unless you have assets such as a property with equity, which every creditor could check, then the chances of any one of them petitioning is not high.
The threat of bankruptcy made by a creditor was once a very powerful tool. It was the apparent shame that would force us to do almost anything to avoid it. Creditor view was that it was worth doing if payment was not received, after having made the threat, to set an example.
The whole thing is so common now that for the most part the decision is entirely a financial one.
If a creditor is owed money and has established you have no assets why pay to petition the court (which costs a creditor about £1500 by the way) when that very act will guarantee that same creditor receives nothing.
For as long as you are not bankrupt each of the creditors can continue to pursue their money, hassle you etc etc.
