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| T O P I C R E V I E W |
| cpaha |
Posted - 10 April 2009 : 18:49:52
I am 45 years old, I am divorce, with one dependant child who is 15 years old, living in a rented council flat, and I am currently in incapacity for work, which I have been for the last 10 years, when i was married my husband use to help me to make payment to my various creditors, i have been separeted for the last year and a half, and got the divorce this month. Since my separation I have been receiving benefits, and most of the money is going towards paying creditors which add to over 15,000.00. I am really stragelling and find not way out. Is any way I can apply for Bankruuptcy? your help will be very much appreciated. |
| 1 L A T E S T R E P L I E S (Newest First) |
| John |
Posted - 10 April 2009 : 20:13:03
Hi
if you cannot afford the repayments then bankruptcy is one solution. As of last week there is a new option available called a Debt Relief Order.
It works pretty much the same as bankruptcy except you do not go to court and you do not see the Official Receiver to discuss your case.
However, to qualify your debts must be less than £15K, you must have no assets and your monthly disposable income must be a maximum £50.
I would arrange an appointment with your local CAB office to see how to reduce your debt below the £15K limit and to discuss with them if it is your best option.
John White
England Jackman & Spacey |
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