Hi, I owe about £4500 to payday loan cOmpanines an due to this I have fallen behind in all house hold payments phone payments an so on, I'm onley 22 an whould like to know what my chances are becoming bankrumpt are, I work on national min wage an can not afford to live. If you can tell me if I can file an what my chances are will be a big help. Thank you
I agree with Viki. If your disposable income (the amount you can afford to pay your creditors after your living expenses have been paid) is less than £50 a month then a better option for you would be a debt relief order as it will only cost £90 compared to the possible £700 bankruptcy fee. You should take some time to find out more about this option before deciding on the bankruptcy route.
Debt solutions expert and author. If you would like further help or guidance visit www.beatmydebt.com Alternatively I can be contacted via e-mail: james@beatmydebt.com
As has been said, first port of call is probably your local CAB who will be able to advise and assist you with your next steps forward.
-------------- Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated. Professional advice should always be sought.
Hi, I owe about £4500 to payday loans. Fallen behind with all other bills.
Posted - 09 June 2012 : 06:48:34
