I am considering bankruptcy as I'm about to loose my house and in debt to the tune of £20,000. My question is I am eligible for early retirement next year which I can take a lump sum payment of £24,500.What I would like to know is if I go through with the bankruptcy will they expect me to pay £24,500 off the debt? If this would be expected I would not consider early retirement. Any information on this dilemma would be appreciated.
Thank You Viki for your reply.When you say my lump sum is at risk do you mean I WILL loose it or there is a way of saving it by consulting an expert? Regards.Willy.