Hi. I am considering going BR. Lost my job last year and I have a number of debts, most of it Credit Cards and personal loans ... but also a few thousand pounds owing to the tax man. I'm unemployed and have very few assets (no home, renting only). I'm told Inland Revenue will commence bankruptcy proceedings against me if I don't pay (I can't pay as no income other than small pension). Would it be better to let them force me in to bankruptcy as I assume this will save me £600, or should I declare BR before it gets to that stage?
Should I declare BR or wait for proceedings ?
Posted - 21 February 2011 : 18:52:10
