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Dan.25
Starting Member
1 Posts |
 Posted - 23 June 2011 : 16:03:42
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hi,
im currently in about £10,000 of debt have not made payments to any of the companies for quite some time as i have been struggling to make them and dont see that changing.im not a home owner and dont have any assets.the worry is really getting to me am i better off just declaring my self bankrupt.
thanks |
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Alina Pietrzyk
Starting Member
20 Posts |
Posted - 23 June 2011 : 16:46:14
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quote:
Originally posted by Dan.25
hi,
im currently in about £10,000 of debt have not made payments to any of the companies for quite some time as i have been struggling to make them and dont see that changing.im not a home owner and dont have any assets.the worry is really getting to me am i better off just declaring my self bankrupt.
thanks
Hi Dan,
Welcome to the forum. I'm not an expert, but commonsense tells you that you can only answer that question by looking at your income against outgoings.
They can't touch you on the rent and Council Tax, that is for certain. The only exception would be if you were a single person renting a three-bedroom house - that sort of thing!
You also get to give the electricity and gas boards their due! Also water if it's not already included in the rent.
On top of that you need to consider your essential monthly expenditure (telephone and mobile too usually included) and see what you have left. Include £50 for food a month and £10 for cleaning products; £8 for prescriptions (even if you don't have one, you may do in the next 3 years) unless you live in Wales (where they are free); £10 for drycleaning costs; travel costs (cars can be kept in many cases); eyes and teeth (dental) treatment; TV licence/hire.
Computer internet charges not allowable, so though you can keep your PC/laptop you can't go on the internet as ALL your dispsable income above £20 MUST be paid over to your OR for 3 years. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 23 June 2011 : 16:49:21
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Hi Dan, welcome to the forum
You may qualify for a Debt Relief Order. I suggest you give one of the experts a call to chat through your situation.
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 - 24 June 2011 : 07:36:40
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I agree with Viki that a DRO could be the way forward. Best speaking to an expert as she suggests.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
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Am I better off just declaring myself bankrupt ?
