i think you have to have enough money to pay the bankrupcty fee or you cant go bankrupt. if you are on benefits i think you can be exempt from the court part of the fee but you stil have to pay the bankruptcy fee.
i think most people save the money for the fees by stopping paying the creditors eg mortgage (if you are not planning on staying in your home if you own it), credit cards or unsecured loans.
i'm sure someone else on here will be able to provide more details.
Peppa pig is right you cannot go BR without the fee. If you are on certain benefits then you can apply via the court for the £150 to come off but the other £345 you would need to find otherwise you wont be able to continue with your BR.
Hope that helps to clarify things for you:-)
Jo x
22 Weeks down
30 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called: Needafriend's Info on Bankruptcy :-) http://debtfreejo.blogs.bankruptcyhelp.org.uk/ Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
what happens if i do not have enough money
Posted - 01 January 2009 : 23:59:55
