I would like to know the costs involved in bankruptcy, also we have a car with a trailer that we will need for work, will this be affected in bankrutcy.
It will cost you £700 per person to declare bankrutpcy.
As to the car and trailer, I have no idea what would happen with this. Perhaps best to speak to an expert who you can contact via the experts link on the left hand side of the page.
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
I would just add here that your question about the car and trailor, being your tools for business have been answered above on our second post.
You may be entitled to a remission of your court fee dropping the cost of bankruptcy to £525 if your gross income assuming no parner or kids is £13,000 or less. Form EX160 from the court explains everything
Hi Kallis, no there are three ways to get a full or partial remission of fees. Yes through certain benefits. Income support, Income based job seekers allowance, working tax credit where no child tax credit is received, state pension guarantee and income related employment and support allowance. All these give an automatic right to full remission of the £174 court fee.
if you are working but your total gross income does not exceed certain limits you also qualify for a remission. You need to provide evidence of income by way of three months bank statements. There are different levels of gross income dependant on whether you are single or in a couple and dependant on how many children you have.
Finally there is a time consuming route whereby you complete a form establishing your disposable income. I have never used this method
bankruptcy
Posted - 05 January 2012 : 14:23:48
