Bankrupt advise please

Kentmumof1

Hi,

I have been paying off my debts on a pro rata basis for at least 4 years now not including when I used to pay them before when I was working, anyway my totals havn't gone down, and the cccs advised me to go bankrupt as i rent my home, i don't have a car and am on income suppport, beneifits etc. I didn't really want to do this but after all this time I can't see any way out of this debt, I don't have any credit cards or anything now only a cash card, but the thing is how much does it cost to go bankrupt ?

I have about £40k altogether

tigerfeet2006

If you have beenadvised by CCCS to take that route then it is probably the best thingfor you.

We will try and help and support you through the whole process.

It will cost you £495 to petition. £150 for the court fee (you may get remission on this if you are unemployed.) £345 to the OR fees (this is always payable.)

The first thing you need to do is read as much as possible, start on here with the Bankruptcy Help sticky, read lots of threads and ask lots of questions. KNOWLEDGE IS KING.

Wishing you all the best and well done for getting your life back under control.

Kentmumof1

thanks I have looked into it before and I know this is silly but the thing that stopped me was having my name in the local paper, as I live in the same area as my parents and they do not have a clue about my debts, do they still name and shame you ??

tigerfeet2006

I am afraid yes they do putit in the papers. There were rumours that sometime this year they mightmake it discretionary but nothing has been confirmed yet as to as and when.

ETA: Have you actually ssen the BR ads in your local paper? Is it in a section most people would read?

So_Sad_Angel

So far your name MAY go in the paper. There was talk of it changing soon but no news yet.

Having said that its one week (or one day) & soon forgotton.

I used to look at that section for my work but can`t remember a single name !!!

The more imporatant thing is that YOU GET YOUR LIFE BACK !!!! & if that means you get your name in lights for a day then SO WHAT !!

Tell your parents that you are sorting out your finances & that your life will be tough for a while.

hth , Angiex

Summer1969

natashayannis wrote: »

thanks I have looked into it before and I know this is silly but the thing that stopped me was having my name in the local paper, as I live in the same area as my parents and they do not have a clue about my debts, do they still name and shame you ??

It never bothered me, tbh, but I know that it bothers a lot of people. Honestly, before I went BR, I never looked at that section in the paper and I am sure hardly anyone does. At the end of the day, I think its still a small price to pay for peace of mind and to give you a fresh start. Have you thought about telling your parents?

justwanabefree

Hi
my OH and I are likely to go BR this year and are both self employed. I have never seen a BR notice for anyone in the local or national press

Radiantsoul

Sounds like it is the best thing for you, unless you are likely to gain a large sum of money in the course of your bankruptcy. Being made bankrupt will wipe the slate clean and is really not so bad(if you are on benefits there will be no income for the OR to take from you and it sounds like you have no assets).

Kentmumof1

thanks for your replies i know im being stupid i have never seen the BR annoncements in the paper, and im sure my mum and dad don't read them, if i know what week it goes in i can nick their paper !!