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 Going BR for £4,500 + small debts ?		  New Topic  Reply to Topic
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Rob.85
Starting Member



1 Posts
Posted - 23 February 2011 :  00:52:29  Show Profile  Visit Rob.85's Homepage  Reply with Quote
I'm thinking about going bankrupt but not sure if i will be accepted as i only owe £4,500.00 on a small bank loan and 2 small credit cards is there a possibility that i could apply and pay the £600 and be turned down and lose a further £600 ?

Viki.W
forum expert



United Kingdom
2211 Posts
Posted - 23 February 2011 :  07:08:50  Show Profile  Reply with Quote
Hi Rob, welcome to the forum.

Have you spoken to someone for advice? Do you qualify for a Debt Relief Order?

I advise you contact one of the experts on here for help as bankruptcy may not be your only option.

Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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Niobe
Administrator



United Kingdom
4590 Posts
Posted - 23 February 2011 :  08:51:00  Show Profile  Reply with Quote
Hi and welcome.

I agree with Viki that a DRO is a possibility. Do you own your own and do you have less than £50 disposable income once your bills have been paid?

If you don't fit that criteria then a debt management plan may be a better option than bankruptcy.

Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.

Jan
xx
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