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Questions about bankruptcy... (sorry for long post)
Hi all, some time ago now I put my first post on here telling the tale of the extremely deep and dark hole that I had somehow managed to dig myself into. I got a lot of positive feedback and now a few months later things have settled down slightly. My DMP with the CCCS is now under way and I pay £258 a month to them to…
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How hard is it to declare yourself bankrupt
Now this isnt somethin im planning on doing or ever going to do as my debt it managable and i AM going to clear it up. Just wondering how hard it is to declare yourself bankrupt as i think sometimes some people see it as an easy option to clear debt. Im just concerned that as im in debt, these creditors are losing all this…
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Bankruptcy and Civil Servants
Hello As i have mentioned in prev posts i have a personal un-secured debt of approx £83K. Payplan are approaching my creditors with the offer of a DMP (which will take 23 years). However, as i have no real assets the obvious solution would be bankruptcy. The only thing stopping me is my job (i am a civil servant in MOD). I…
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A Couple of Quick Questions About Bankruptcy
Hi All, I'm getting a bit sick and tired of dealing with DCAs almost every day as well as worrying constantly about making ends meet. I'm now seriously considering going bankrupt, but I'm a bit confused about the process. I'm 27, don't own anything of any value, apart from a computer which I use for work. Having temped for…
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Questions about Bankruptcy - Please Help!
Dear All, I wonder if you could offer some advice: After visiting the CAB for advice on our debts they said they could write to our creditors to reduce our monthly payments to them or consider going bankrupt which would sort out our 2 mortgages and secured debts which are the biggest financial burden we have. However, my…
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Is bankruptcy the best way out
Morning all have not been on here for a while so have had to re register as I lost my username. Found this site last year which was a great help for me ,i finally took my head out of the sand and I had finally started taking a hold of my finances and had got my debt down from around 15k down to 9k in 8 months. Things were…
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Bankruptcy
I have an elderly relative who refuses to pay his land tax. He will be taken to court in January and declared bankrupt. He owns 1 property of around 10 acreas value around four hundred thousand pounds. He also has arouind 30 thousand pounds invested. Would the debt be taken from the liquid asset or would the property be…
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bankruptcy or iva urgent advice needed
hi everyone just wondered if someone could offer any advice to relation who has got himself in big money trouble.he currently owes bank 28K in personel loans and overdraft,he is 26 single and takes home 850 pounds per month.the bank adds approx 70 pounds per month in charges .he lives at home with parents who are not in…
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scottish bankruptcy laws?
hi, i just wanted to check here if anyone knows if the new scottish proposals on personal bankrupcy laws in scotland are changing soon. i have a couple of question which i hope someone can help me with. 1 will the new laws on making yourself bankrupt be the same or simmilar to england where it is easier to make yourself…
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Bankrupt today
Just thought I would let you know about my day. Got to court at 9am. Saw clerk at 9.30, very informal, just like being in the queue at the post office. Handed my papers over, told to go upstairs. Waited about 20 mins. Went into room, saw lovely judge, declared bankrupt at 10.21am. Went to OR office, will be in touch with…
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Why would you chose IVA over Bankruptcy ?
(sorry if you have already seen this, I mistakenly posted this to an existing thread when meant to start new one) Sounds like IVA's - Cost a lot more than Bankruptcy - Take more of your disposable income - Last longer (5 versus 3 years) - Good for Solicitors, Accountants, School Governer Wanna-Be's etc Light bulb moment is…
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bankruptcy fees
help! i'm in debt to the tune of about 18k and i'm a recently single parent with 3 kids. i'm on DMP but will be paying this off longer than my youngest (3) will be at home. i was just wondering, how do i get the fees up together to go bankrupt in the first place? the debts are solely my fault...borrowing to pay off debts…
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IVA or Bankruptcy? Or is there another way for me?
I am a newcomer to this site and have been reading various posts with interest but cannot seem to find the best way to approach my current financial problems. I have written a little about my background and current situation in the hope someone can help steer me in the right direction so I can find my way out of debt. I…
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It was the BIG day ! Now I can get on with my life.
Evening guys, Im sorry Ive not been here to offer my 'wisdom' again this weekend, As you know.. I have had my kitchen to refit after my Pumkin of a neighbour leaked on my foundations !! Its the big Bankruptcy day tomorrow (10am).. Im dead nervous, By working hard this weekend has kept my mind away from it. I think and I…
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Bankcruptcy?
To keep it breif..... I owe about £67,000 all on usual loans etc... and not 1 thing to show for it! ive tried cccs failed on a dmp.... im 26 in an unsteady relationship of 5 years and two young children, i rent and im the only one that works, im loosing control and all grip on reality! I havnt paid my creditors for almost…
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Bankruptcy & Civil Servants
Hello As i have mentioned in prev posts the best solution to my debt problems is bankruptcy. However, the stumbling block is my job (civil service). I intend to ring my HR Dept & welfare officer annonymously to find out what the situation is. If the answer is no i was thinking of taking a chance & going bankrupt anyway &…