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Hi Guys

Hi Guys,

Just got my redundancy letter and needing a little bit of help.

I have debts that are around £24,000 paying out £1,000 a month, working in the finance sector as a secured loan underwriter for a broker im aware im not going to get a job in what im doing, im going to struggle to get a job thats going to pay £1,200 a month which will leave around £250-£300 a month in spare cash and this could take me a while to get into a job. I havn't missed payments to now but know now i haven't got a choice.

If i go bankrupt how much do you pay a month?

Can i go bankrupt with my clean credit file or will they just chuck my case out?

I have looked into DM but as i have no assets i dont really see any point in this.

Any advise would be amazing.

Comments

  • jeff23
    jeff23 Posts: 37 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    When i say spare cash i mean cash to pay creditors after paying rent and bills and living costs
  • Waspeze
    Waspeze Posts: 2,479 Forumite
    Part of the Furniture Combo Breaker
    If you have surplus income of £100+ after all reasonable living expenses have been taken off (looks at some SoA threads to get an idea of what's allowed) then you pay a percentage rising from 50 -70%, depending on the amount of surplus.

    it's be worth talking it through with national debtline, CCCS or your local CAB to see what your options are.
    :hello:
    Save a little money each month and at the end of the year you’ll be surprised at how little you have.
    An eye for an eye only ends up making the whole world blind
  • jeff23
    jeff23 Posts: 37 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    hi again, how long is it until my credit report just wont show iv been made bankrupt? am i right by saying that would be after 7 years?
  • Waspeze
    Waspeze Posts: 2,479 Forumite
    Part of the Furniture Combo Breaker
    There's a lot of info here on credit files and bankruptcy:
    http://forums.moneysavingexpert.com/showthread.html?t=677875
    :hello:
    Save a little money each month and at the end of the year you’ll be surprised at how little you have.
    An eye for an eye only ends up making the whole world blind
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