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Wayne.08
Starting Member
1 Posts |
 Posted - 14 April 2014 : 16:33:42
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| How much will i need to pay to declare myself bankrupt considering im on dla and esa |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 14 April 2014 : 16:45:28
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Hi and welcome to the forum.
It will cost £700 for you to declare BR but you may well be able to get a reduction on the fees.
How much are your debts? It could be that another solution is possible. Please speak to an expert so that all of the options can be explained to you. The advice is free.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 15 April 2014 : 08:29:52
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Hi Wayne.08
Niobe is of course correct and you need to take some professional advice as there are alternatives to bankruptcy depending on debt level and income which are cheaper alternatives.
For help and advice on the easiest and most effective way to a debt free future, please telephone me on FREEPHONE 0800 298 0253 |
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pcoventry2
Junior Member
230 Posts |
Posted - 18 April 2014 : 19:45:16
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For the record when I was went BR I was not working and I was leant the money. I was told it's £525 if you are on benefits.
It has not changed I have just checked. basically you don't pay the £175 court fee. But the money for the OR to do nothing for the year is £525.
I wish this charge didn't exist. They did nothing for me BUT hound me and take my car away. I was left to contact each creditor and tell them I was BR (none of them knew) and after I am still sorting my credit file out.
And now when I have companys who refuse to write the debt off even though they were named on the BR, where are the OR? Not interested as the case is closed.
It's a waste of money if you ask me but got to pay it - got to give the government fatcats their holidays! |
Edited by - pcoventry2 on 18 April 2014 19:46:38 |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 18 April 2014 : 20:39:26
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The good thing is that they cannot pursue you for the debt - it will have been written off in the BR. I think the fee is high but someone has to pay their wages.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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debtinfo
forum expert
2826 Posts |
Posted - 20 April 2014 : 15:10:30
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quote:
Originally posted by pcoventry2
For the record when I was went BR I was not working and I was leant the money. I was told it's £525 if you are on benefits.
It has not changed I have just checked. basically you don't pay the £175 court fee. But the money for the OR to do nothing for the year is £525.
I wish this charge didn't exist. They did nothing for me BUT hound me and take my car away. I was left to contact each creditor and tell them I was BR (none of them knew) and after I am still sorting my credit file out.
And now when I have companys who refuse to write the debt off even though they were named on the BR, where are the OR? Not interested as the case is closed.
It's a waste of money if you ask me but got to pay it - got to give the government fatcats their holidays!
Forgive me if i'm a little personally offended by your post, seeing as i was one of those workers who just sit there doing nothing all year, in fact my largest concern all those years i worked there was simply how to fill my days and stave of the boredom.
Not that i expect to change your mind but lets put a few things straight for others who may just be reading this shall we.
"the money for the OR to do nothing for the year is £525" - Actually the average cost of a bankruptcy was £1715, the total of these fees collected from all of the bankruptcies covers the cost of running nearly all of the insolvency service including its staff, buildings etc etc. Unlike many other countries when you go bankrupt you only have to pay a deposit of £525 and the OR will start work they will attempt to recover the rest of their costs from assets of the bankrupt. If there are not enough assets to do this the remaining amount will be written off. this happens in a large proportion of cases and the OR simply makes a loss on that particular case.
"I was left to contact each creditor and tell them I was BR (none of them knew)" - The OR has a statutory duty to send a report to all your creditors and will have done so, of course the creditors will have sent we dont know but they will have had a report. this is one of the principle duties of the OR and is done in every case. The OR has arrangements with all the major creditors to send these reports to specific addresses for each of the main creditors so someone in that organisation will have had the notice, it is then their job to disseminate that through their systems to their call centres. Just to be clear it is not the OR's job to stop the creditor contacting you just to make sure that the creditor has been notified of the bankruptcy.
"I am still sorting my credit file out." - and it would be your job to do so. The credit agencies do not sit within the Insolvency legislation and the OR has no obligation to inform them. if they are holding incorrect information about you then it is the Information commissioners office that is the correct authority to complain to.
"hound me and take my car away" - it is the OR's job to realise assets , there are exemptions in some circumstances for vehicles but you obviously did not meet one of these. You complain that the OR did nothing but on the other hand you also complain that the OR did something which is one of the prime responsibilities they have, ie to realise assets
"They did nothing for me" - I think this may be the root cause of your unhappiness. You seem to think that the OR is working for you, they are not, You then probably think that they may be working for the creditors, again they are not. The OR is an officer of the court and they are working for and instructed by the court. They makes decisions and sent notices in accordance with the law, sometimes that may benefit you, sometimes that may benefit the creditors but neither is their motivation.
"It's a waste of money if you ask me but got to pay it - got to give the government fatcats their holidays!" - i have explained above how much is paid. You have received the Debt relief you were looking for and you would receive the protection of the court if a creditor tried to take action against you for an proveable and discharged debt. The OR does a job and someone has to pay for it. It was decided a long time ago and quite rightly in my opinion that, rather than the creditors who are already losing a significant sum, or the general tax payer who would balk at paying to write off someone elses debts, that it should be the person who seeks debt relief that pays for it and the costs of administering the system. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 April 2014 : 16:22:38
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Well said debtinfo and I totally agree.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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andyb53
Starting Member
United Kingdom
28 Posts |
Posted - 20 April 2014 : 19:54:28
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And if you want a Discharge Certificate they want £65 for 1 sheet of computer generated A4
TOTAL AND UTTER ROBBERY!
Andyb |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 April 2014 : 20:10:05
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If you print it off as soon as you are discharged then it won't cost you anything.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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debtinfo
forum expert
2826 Posts |
Posted - 20 April 2014 : 21:19:30
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you can also ask the OR for a letter of discharge which they will do for free.
Only the court charges for the discharge certificate, which is because it is not just a sheet of A4 but a court sealed document guaranteeing the discharge and confirming that all necessary checks have been made. |
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Topic |
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How much will I need to pay to declare myself bankrupt ?
