There are 2 ways of being eligible for BR - either you have to have more going out than coming in each month, or your total assets have to be worth less than your total debts.
I wasn't in arrears or unemployed when we went BR last year but our total debt far exceeded the value of our assets. My income covered outgoings not including debt repayment (and came nowhere close when it was included).
how do they decide if your eligable for bankruptcy
Posted - 04 January 2009 : 20:32:00
