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naithan.25
Starting Member
1 Posts |
 Posted - 07 March 2010 : 18:26:51
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| how much debt must you be in do declare yourself bankrupt |
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debtinfo
forum expert
2826 Posts |
Posted - 07 March 2010 : 18:49:07
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| there is no limit, just that you cannot pay your debts as they fall due |
Edited by - debtinfo on 07 March 2010 18:49:27 |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 07 March 2010 : 18:51:00
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Hi and welcome to the forum,
A good question.
There are lots of options to manage your unsecured debt and BR is just one.
First, establish that you are insolvent - more going out than coming in and an increase in the amount of debt on a regular basis
Generally, if you have no assets and debt of over £15,000, then BR may be an option for you to explore. However, thetre is no magical amount.
If your debts are below that amount, then maybe the following is worth exploring:-
Contact the local office of the CAB and have a chat with them
Contact the National Debtline
Contact CCCS
The above are free and will make some suggestions for you to explore.
What are your circumstances? How much debt do you have? Do you have any assets?
Post back with some more information and I am sure someone will be able to assist you.
Richard
"There are no problems - only solutions" |
Edited by - Housing on 07 March 2010 18:51:51 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 07 March 2010 : 20:38:08
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You can also contact an Insolvency Practitioner and they will be able to talk through all options with you. The majority of IPs will give free, no obligation advice, and you can read the reviews of many companies on www.iva.com.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
32 IPA payments made, 4 to go - the end is in sight! |
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how much debt to declare bankruptcy?
