Hi, I'm in a real mess and can't sleep at night because of it, could some one please help. I owe about a grand with payday lenders about 700 to hsbc for overdraft and over 400 in council tax, I rent privately and it costs 525 PCM and I earn about 1000 PCM so don't have hardly any spare money, would I be able to declare my self bankrupt? It's not a great deal of money but I just don't know what to do. Thanks for reading
If your debts when totalled up are below £15,000 and you have as you state no assets and a disposable income below £50 (after all your outgoings) you may qualify for a Debt Relief Order - DRO (similar to bankruptcy but for debts below £15k) it costs £90 to file for a DRO as opposed to £700 to file for bankruptcy.
The best advice i can give you if you think you meet the criteria above is to make an appointment with your local Citizens Advice Bureau who will complete the paperwork and apply for the DRO on your behalf. You do not have to attend at Court nor the Official Receiver if you go down the DRO route - so this may be better for you
If I can answer any other queries with tregard to a DRO or bankrutpcy please feel free to post again, Melanie
Melanie Nicholas CertDR 30 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles
Hi, I'm in a real mess and can't sleep at night. Could someone please help ?
Posted - 05 January 2012 : 16:26:30
