Bankruptcy Where To Start?

cybergirlclareb

Where do I start the bankruptcy process and what is likely to happen?

sophistica

Go to the Citizens Advice Bureau they will guide you through the whole process and the advantages and disadvantages.

CLAPTON

why do you consider bankruptcy is appropriate to your circumstances?

why not post an SoA here and see whether people here can help

but you may wish to read

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=01_bankruptcy

and

http://www.insolvencyhelpline.co.uk/bankruptcy/what_is_bankruptcy.htm

best of luck whatever you decide.

earwig

hi phone your local county court they will send you some forms fill then in phone the court back up and they will give you a date you will be bankrupt on the same day it cost 460.00

Broken_hearted

What if you don't have £460?

cybergirlclareb

Broken_hearted wrote:

What if you don't have £460?

Thats what i'm wondering, where the hell do they expect someone who is unemployed, just lost her benefits etc to get that type of money? Sell myself on the street corners or what:mad:

cybergirlclareb

CLAPTON wrote:

why do you consider bankruptcy is appropriate to your circumstances?

why not post an SoA here and see whether people here can help

but you may wish to read

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=01_bankruptcy

and

http://www.insolvencyhelpline.co.uk/bankruptcy/what_is_bankruptcy.htm

best of luck whatever you decide.

Income:
Housing Benefit 0 (Inc Rates)
Incapacity Benefit £228.00
Child Tax Credit 0
Child Benefit £67.00

Total = 295.00 Per Month

Outgoings:

Rent £280.00
Shopping £80
Electric £50
Phone £40
TV Lisence£11
Broadband £15
Insurance £25
Tax £15

Total £516 Per Month


That is even before I pay creditors and I am behind in rent and car finance.

MBNA = £4250.45
Capital One = £3890.45
Over paid Tax Credit = £4000
Hosuing benefit = not sure

CLAPTON

sorry i hadn't associated your two threads.

i think that lynzpower on the other thread has provided very good advice.

there seems no particular advantage in your making yourself bankrupt at this time, best to spend your energies in sorting out your benefits situation.

cybergirlclareb

CLAPTON wrote:

sorry i hadn't associated your two threads.

i think that lynzpower on the other thread has provided very good advice.

there seems no particular advantage in your making yourself bankrupt at this time, best to spend your energies in sorting out your benefits situation.

Thats what I was thinking, But what do I say to my creditors in the mean time, now I can't afford to pay them?

CLAPTON

you should write to them including your SoA as above saying you can't pay anything at the moment but of course when your situation improves you will contact them again. ask them to freeze interest and charges.

they won't like this, but that is the actual situation. they will probably threathen you with court action, unpleasant phone calls, bailiffs etc...but you can't pay what you dont have.

and keep copies of everything you send.