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alex
Junior Member
United Kingdom
171 Posts |
 Posted - 18 June 2008 : 00:15:52
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Hi,
After I tried every way to sorting my debt, I am now decided to Declare BR. I really tough it been difficult till now but I found myself in situation which I have no idea what will happen to me from time I go to my local court and ask for BR application.
Please help me (sorry for my poor writing)
Let me explain my situation: I have around 31,000 Pounds debt(25k in one loan and rest in 3 difference C/Card company) which been build up in last 5 years. I am council tenant(I am up to date with all my bills and rent) and have no valuables, I have car which worth around 600 Pounds. I am in not very good mental and physical situation so I am working part time and earn 550 pound A month. Now is where my head is not working at all:
1. Will I lose my house?
2. WILL I lose my car?
3. When I can I do some over time Will they know how much I earn?
4. How will know about my BR? will my current employee find out if would like to keep this to myself for no further embarrassment?
5. who will I have to tell about my BR from then?
I really appreciate your help
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melanie_giles
Senior Member
1191 Posts |
Posted - 18 June 2008 : 00:20:43
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Hi alex and welcome to the forum
You will not lose your house if you declare yourself bankrupt, and your car will be safe as it is of low value and presumably required for transport to and from work.
You have a duty to keep your Trustee informed of changes to your income, but your employer will not be directly informed of your bankruptcy. Your Trustee will advice all of your creditors of the bankruptcy, and apart from them no-one else needs to know.
Good luck with your application.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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alex
Junior Member
United Kingdom
171 Posts |
Posted - 18 June 2008 : 11:42:32
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Hi Melanie
Thanks for very helpful replay, I am much more clear now.
Is there any where I can get help with £475 ?
Thanks again |
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 18 June 2008 : 12:55:12
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Hi Alex - if you are in receipt of certain benefits you may be entitled to reduced court costs. You can check with your local court to see if you qualify.
Some utility companies apparently do grants towards court costs but I will need another expert/forum member to confirm the details of this.
You will get lots of help from this forum so keep posting!!
Vicki x |
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melanie_giles
Senior Member
1191 Posts |
Posted - 21 June 2008 : 00:39:48
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You can save the £150 Court Fee if you are in receipt of income support or other benefits, and as Vicki states some utility companies have funds to assist with the balance. Try ringing your electricity and gas suppliers to see if they offer such assistance.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 21 June 2008 : 14:19:50
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Hi Alex,
Just to let you knwo, the court fee is now actually £495.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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tried every way to sorting my debt
