We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

can you

I just want to know out of interest if you are paying you loans and loaning money on credit but paying off what you loan can you petition for bankruptcy. A friend of mine is saying that his what he is doing but I do not know if you need a reason to go bankrupt like can no longer pay.

Comments

  • dojoman
    dojoman Posts: 12,027 Forumite
    To go BR you have to be insolvent, I don`t think there is anything else involved. But from what I have read you have to seek advice before going down the BR route. If you are not insolvent then you cannot BR.
    :pB&SC No. 298
    Life`s Tragedy is that we get OLD too soon
    and WISE too late!
  • that is what i thought thanks.
    dojoman wrote: »
    To go BR you have to be insolvent, I don`t think there is anything else involved. But from what I have read you have to seek advice before going down the BR route. If you are not insolvent then you cannot BR.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.2K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.2K Work, Benefits & Business
  • 600.9K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.