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abr
Junior Member
202 Posts |
 Posted - 02 April 2008 : 16:07:02
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hi, i am being threatend with bankruptcy by one of my crediters and was wondering if it would be better to file for it myself rather than wait
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 April 2008 : 18:00:12
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Hi Abroadmore,
Welcome to the forum,
This would all depend on your situation, I would require some further information before giving advice.
Have you any assets of value?
Do you own your property?
What is the total level of your debts?
All the best
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
Edited by - JulianDonnelly on 02 April 2008 18:00:55 |
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melanie_giles
Senior Member
1191 Posts |
Posted - 02 April 2008 : 22:12:26
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| If a creditor is going to fund the cost of bankruptcy for you, and you have determined that this is either the only way, or the best way, forward, at least you will save an application fee, but a lot of creditors use the threat of bankrutpcy as a method of deriving repayment and are not always willing to put money where their mouths are, so if you feel there may be a risk of this, during which time you may be put under undue pressure, a debtor's petition will draw matters to a conclusion - and start the time clock ticking towards discharge at an earlier stage. |
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am being threatend with bankruptcy
