I owe the banks a total of upto £5000 and as I'm on job seekers allowance and I have low income I have no choice but declare bankruptcy. Is this possible? If so can I just download the bankruptcy petition form and hand it to the local court asap? I cannot afford to pay the banks even the minimum amount per month under the circumstances I'm in now. Thank you
Do you have any assets? If you don't and you have less than £50 per month disposable income then you could qualify for a DFO Which will cost you £90 and you will be free in less than a year.
If you declare BR then it will cost a lot more than that even with the reduction in fees as you are on benefits.
Speak to Viki who posts on here (her details are under the expert link on the lefthand side of the page) and she can advise you.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant