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kellsy
Starting Member
20 Posts |
 Posted - 20 May 2009 : 15:54:14
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Hi,
my q is simple is it better for me to be made bankrupt or to declare this myself?
thanks |
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memphisd56
Junior Member
United Kingdom
112 Posts |
Posted - 20 May 2009 : 16:06:04
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| It would save you the £510, if you were declared BR by a creditor...but it all depends on how much pressure your under regarding CCJ`s & baliffs, i would think. |
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kellsy
Starting Member
20 Posts |
Posted - 20 May 2009 : 19:42:05
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| well i have just got home from work to find a letter from the HM revenue asking for thr full amount owing or to take away items in my flat!!! |
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jwmc77
Junior Member
United Kingdom
195 Posts |
Posted - 21 May 2009 : 00:58:54
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trust me....its very rare for a creditor to apply for a br order nowadays, they will leave it knowing that the amount you owe will grow and grow (and believe me, it will!)as they can claim this back from they're insurance, all the while debts will be passed on to collection agencies who will harrass you with phone calls and visits to your home.
i know how you feel as i queried this option as well before going br, but do you really want that stress of the phone going or the doorbell ringing for months?
it is a lot of money but its by far the better option to get it sorted for yourself....and you'll feel a lot better for it!
MAC |
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John
New Member
United Kingdom
73 Posts |
Posted - 21 May 2009 : 08:49:04
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Hi
MAC is right, it's not often high street lenders petition for BR.
However, the two bodies that will go for it sooner rather than later are HMRC and your local authority.
These particular bodies also have slightly different powers in respect of attention from bailiffs. Therefore to decide whether to jump or be pushed is a more difficult decision to make.
If you have the funds I would go for it yourself but it is a personal choice.
If for no other reason, if you have seen the complexities of completing a Statement of Affairs and Debtor's Petition, you should see the PIQB you will have to complete if you are made bankrupt by a creditor. The SoA has 12 sections to complete, the PIQB has 25!!!
John White
England Jackman & Spacey |
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kellsy
Starting Member
20 Posts |
Posted - 21 May 2009 : 09:10:07
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| thanks guys!! |
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Topic |
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to be made bankrupt or to declare this myself?
