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Needafriend
Junior Member
United Kingdom
344 Posts |
 Posted - 09 September 2008 : 11:00:43
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Hi i just found this dont know if its helps its from
http://www.clearstart.org/bankruptcy-faqs.php#faq1
"1. How Does the Bankruptcy Process Work?
If you want to declare yourself bankrupt you have to start the process by filing a Bankruptcy Petition (Debtor's Petition).
Or your creditors can file a Bankruptcy Petition Creditor's Petition) against you if you owe them more than £750.
Once you the bankruptcy petition has been filed, a court date will be set for the initial hearing to see if a Bankruptcy Order should be made. Once a Bankruptcy Order has been made, you will be declared bankrupt."
I cant find anything that says how much you need to owe before u can consider BR.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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369
Junior Member
366 Posts |
Posted - 09 September 2008 : 11:11:10
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Hello,
I went bankrupt in Nov 07, and am now just waiting to be discharged in Nov 08. It has been a really tough year though...seperating from my partner, moving house, moving jobs, going bankrupt but I will be glad when Nov this year comes around and I can carry on making a fresh start!
As far as I know I think that "normally" you should be at least £15,000 in debt before thinking about bankruptcy - although I dont know if this is written in stone.
An IVA (Individual Voluntary Arrangment) is like a Debt Management Plan, where you pay a certain amount back each month for a certain amount of years and then after this time the remaining balance is wiped - that is what I have been told by an IVA company.
I would ask an expert to be honest, as you are already in a Debt Management Plan and it is not working out for you. As you have £7,500 in debts and no way of realistically paying it back soon, and no assets then maybe bankruptcy is the best option - but I would think about it very carefully first and talk to an expert like John or Julian....
Hope that helps! |
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staceb
Junior Member
United Kingdom
175 Posts |
Posted - 09 September 2008 : 11:20:26
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| thankyou maizie ill have a look x |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 September 2008 : 11:23:03
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Good Luck Stace
Give John or Julian a call, its free you know and it may be worthwhile to have a verbal conversation about your options.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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staceb
Junior Member
United Kingdom
175 Posts |
Posted - 09 September 2008 : 11:29:23
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how do i talk to the experts?? haha that sounds dumb!!!! so you can go bankrupt if you own more than £750 then.god i wish i never got myself in this bloody mess!!!!
think one of the reason i want to go bankrupt is because i want a second chance really,to learn from my mistakes.as well as not having the horrible feelin of everyone being after you anymore ha!!
it sounds like you have had a pretty rough time!
worse than what i'm moaning about,how you do it? |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 September 2008 : 11:34:37
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No dont misread that what i wrote that is how creditors can do it.
The phone number is at the top of the page but its
0800 078 9367
Give them a call. You need to find out for def what options are for you.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 09 September 2008 : 11:37:42
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Hi Stace
One more thing, for me and many others on here it has been the help of this site that has got us through, being able to share your problems and feelings and by not feeling alone anymore.
For me i have just managed, maybe its the nursee side of me that wants to help but i like to be able to make everyones life a little better and by giving my time on here i know that even though i dont have all the answers i have some understanding that we can get there in the end.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated Needafriend's New Life- A Debt Free One! blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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should i go bankrupt??
