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Chris.71
Starting Member
1 Posts |
 Posted - 22 July 2011 : 10:34:37
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| Hello, I'm a self employed taxi driver, I run my own small business but am getting more in debt through garage bills and running costs. My income has dropped dramatically lately, my debts total about £2000.00 to banks, I have no assets except the taxi valued at about £500.00. I can't keep on top of this, should I go down the bankruptcy road? Thanks, Chris. |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 23 July 2011 : 12:23:04
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Hi Chris
For that level of debt, £2,000, I would suggest that you seek another debt solution. The solutions open to you would be a Debt Management plan where you pay the creditors over a certain length of time based on what you can afford. Alternatively, if you have no property nor disposable income of over £50 per month, you could apply for a Debt Relief Order where your debts will be written off in a years time.
All the best
John Blackaddeer
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 23 July 2011 : 18:17:05
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Hi Chris and welcome to the forum.
I agree with Blackie, it would definitely be worth you looking at other solutions for that level of debt.
View my blog at http://skippy13.blogs.iva.co.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.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Hello, I'm a self employed taxi driver getting more in debt
