Bankruptcy - yes or no?

Pat__3

Also people may be interested in another site that helps with debt problems and bankruptcy questions & proceedures.

www.debtquestions.co.uk

Simon Wiggins runs the site and used to work for thr BBC and National Debtline.

He has given and still does give very good advice, usually replies the same day.

I can vouch for this site as they helped point me in the right direction some time ago. And now I am debt free.:)

WiseSteward_2

Hi yeovilmac

Only just seen this thread as it has dropped to the end of the queue - by date. It will now go to the front!

From the details you have posted I think Bankruptcy is the best option. If you really wanted to, and thought it sensible, you would still be able to be self-employed providing you trade in the name in which you go Bankrupt.

Please see my other posts of yesterday & today on this subject in the 'BANKRUPTCY long post please read' and 'Im about to drown .... help!!' threads.

Best wishes, Graham B

yeovilmac

WiseSteward wrote:

Hi yeovilmac

Only just seen this thread as it has dropped to the end of the queue - by date. It will now go to the front!

From the details you have posted I think Bankruptcy is the best option. If you really wanted to, and thought it sensible, you would still be able to be self-employed providing you trade in the name in which you go Bankrupt.

Please see my other posts of yesterday & today on this subject in the 'BANKRUPTCY long post please read' and 'Im about to drown .... help!!' threads.

Best wishes, Graham B

Thanks Graham B for your kind comments.

I tend to go on to debthelpuk.co.uk site now as it is full of people in a similar position to myself. I today received a letter from HM Customs And Excise threatening me that within a week they will petition me. This is good news as I won't have to fork out £460 myself.

I'm now off to read your other comments.

Best wishes
Martin

salsup

hi,just a quick question from me,having read all the other views,if you do decide to go bankrupt do they want all your bank statements etc,I'd be uncomfortable with people going through all my business like that

xxbutterflygirlxx

Some posters have found my Username a little ... erm ... inappropriate. May I just say that I am not smug about being debt-free, just bl00dy relieved

I have to say I've read about 300 of your posts and never thought you were smug. Your username to me suggests thankfulness rather than anything else. You put a lot of time and effort into trying to help others and that is bloody brilliant IMO.

Anyway, Saturday night and a couple of glasses of wine and I'm rambling so I'll shut up now.

WiseSteward_2

Hi salsup

Following the making of an Oder in Banruptcy by a District Judge (in England & Wales) a comprehensive questionnaire has to be completed prior to an interview (in person or by telephone), usually within the following 2 weeks, with a receiver at the local Offical Receiver's office. The questionnaire looks quite daunting and the interview can take 1 to 3 hours, possibly longer if a business has been involved.

Comprehensive financial documentation, including all bank account statements, has to be provided so that the receiver can form a picture of what led to insolvency (inability to service indebtedness) and to find out whether or not fraud or dishonesty has been involved. If there's been no fraud or dishonesty there's nothing to worry about. It would be wise, however, to obtain free advice, guidance, practical help and representation from a currently practising debt specialist experienced in bankruptcy procedures. It really isn't as bad as the above makes it sound if you get appropriate help, and there's plenty available.

For fuller details follow the links in the threads referred to in my post above.

Regards, Graham B

Malestrom

xxbutterflygirlxx wrote:

Some posters have found my Username a little ... erm ... inappropriate. May I just say that I am not smug about being debt-free, just bl00dy relieved

I have to say I've read about 300 of your posts and never thought you were smug. Your username to me suggests thankfulness rather than anything else. You put a lot of time and effort into trying to help others and that is bloody brilliant IMO.

Anyway, Saturday night and a couple of glasses of wine and I'm rambling so I'll shut up now.

I have to agree with this, never have I thought that Debt_Free_Chick's username was inappropriate or her manner in any way smug. I hate to think that people here might take that view, especially seeing as she is such a great driving force for this board.

Debt_Free_Chick

I just wanted to thank you for reassuring me

I tend to post pretty "to the point" suggestions. Partly, as I want to get a response on the Board as soon as I see a problem. And sometimes because some people don't seem to see that the light at the end of the tunnel is a train - so tough, quick action is needed.

It's also interesting to see how this Board has developed. I think we now have a strategy to address debt - get necessary expenses down, ditch unnecessary expenses, negotiate with creditors etc ....

Also, very encouraging to see those who first posted with "Help me" messages now post messages to help others!

Great stuff. Glad to have contributed

It's always really nice to be appreciated - I am very touched.

Malestrom

Group Hug! Group Hug! :j