Hi Paul I would not speculate as to whether your circumstance makes you eligible but that it is not possible to determine from the very brief information you have supplied.
There are many other factors to consider before one can be accurately described as insolvent.
As far as i understand it Paul anybody can petition for their own bankruptcy at any time. Its your right. However if a judge can see that you can clearly repay your debts then he/she wont make you bankrupt. With such a small sum owing would you not be better off considering an iva or at least examining the possibility. If you pay out more than you earn without being extravagent then to my mind your insolvent and your bankruptcy would be accepted.
am I eligiable for bankruptcy?
Posted - 11 July 2008 : 22:11:22
