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T O P I C R E V I E W
lr.m
Posted - 11 May 2009 : 23:18:52 i am 11,000 in debt i have been made redunant on job seekers allowance married got 3 kids need to support them would i be able to go bankrupt
1 L A T E S T R E P L I E S (Newest First)
John
Posted - 12 May 2009 : 00:07:23 Hi
no need. With your level of debt you should speak to CAB who may suggest you apply for a Debt Relief Order. This can only be done through a CAB office and costs £90 instead of £510 in bankruptcy. That said as you are on JSA your fee in bankruptcy would reduce to £360.
To qualify for a DRO you must have monthly disposable income of no more than £50 (tick), your debts must not total more than £15K (tick) and you must have no assets (house / expensive car / share in property) (cant tick coz dont know but if you can tick this criteria I would recommend you make the appointment with CAB asap).
