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T O P I C R E V I E W
paul_m
Posted - 11 July 2008 : 22:11:22 Iam in debt of 23,000 and I earn 20,000 I have two children that I pay 250.00 a month for, am I eligiable for bankruptcy?
3 L A T E S T R E P L I E S (Newest First)
eldraque
Posted - 12 July 2008 : 10:23:05 As far as i understand it Paul anybody can petition for their own bankruptcy at any time. Its your right. However if a judge can see that you can clearly repay your debts then he/she wont make you bankrupt. With such a small sum owing would you not be better off considering an iva or at least examining the possibility. If you pay out more than you earn without being extravagent then to my mind your insolvent and your bankruptcy would be accepted.
John
Posted - 12 July 2008 : 00:35:22 Hi Paul I would not speculate as to whether your circumstance makes you eligible but that it is not possible to determine from the very brief information you have supplied.
There are many other factors to consider before one can be accurately described as insolvent.
melanie_giles
Posted - 11 July 2008 : 22:14:45 Hi paul and welcome to the forum
Yes you are certainly eligible to file for your own bankrutpcy, and the Court fee is £495 which has to be paid in cash.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
