Have to save up to go bankrupt?!!

fatbelly

Ok, this is only going to help a bit ... but you can probably get off the £150 court fee by using an EX160 and asking for remission rather than exemption.

You're only exempt from that fee if you're on income suport, JSA (income based) or pension credit (guarantee credit)

OR your gross annual income is less than £15460 and you and your partner receive Working Tax Credit and Child Tax Credit between you. (HMRC send you an award notice that shows your annual income. This is your gross annual income. If it is more than £15,460, the court may suggest that you apply for remission. If you receive Working Tax Credit, the award notice will also show if you receive a 'disability element' or 'severe disability element')

Otherwise, try for remission when you've saved the £325 Official Receiver fee.

Other long shots for help with the OR fee are EDF and British Gas charities (if you're supplied by them), and work-related charities.

flis21

I know it was a massive pay cut, but I had a breakdown at my last job due to the stress and now am suffering with depression, anxiety, paranoia and psychosis (what fun!). So I really can't go back to a stressful job and don't want to take on a second part time job in case I stress myself out and get ill again. If I can't work at all I am no good to anyone!!

Fatbelly - thanks for that info. We don't get any tax credits. We are not supplied by british gas or edf, but I will look into the charity idea and try and get some advice about whether we can get off the court fee bit. Maybe will pop down CAB next week.

Mike_St_Helens

Hiya.. Sorry to but in. if creditors are going to fail the IVA and make you bankrupt, do they not pay the fee.

If a creditor wants to make you bankrupt, then they would usually pay the fee for you.

Mike x

flis21

That's what I thought, but they can fail the IVA without making us go bankrupt. I have been thinking for the past 4 months that they are going to make us bankrupt, which is why I wasn't saving up for it, but apparently they don't have to.

Broken_hearted

Mike_St_Helens wrote:

Hiya.. Sorry to but in. if creditors are going to fail the IVA and make you bankrupt, do they not pay the fee.

If a creditor wants to make you bankrupt, then they would usually pay the fee for you.

Mike x

Ah but mike the beeps never want to do that. It a fun conversation I have on and off. Goes something like
DCA "pay us more"
me "no can't afford it"
DCA "you have to pay us more"
me "no"
DCA "we will take you to court"
me "ok"
DCA "you will owe more"
me "no I won't they'll declare us bankrupt"
DCA "well we want more money"
me "Don't we all"
click phone goes down.

Mike_St_Helens

flis21 wrote:

That's what I thought, but they can fail the IVA without making us go bankrupt. I have been thinking for the past 4 months that they are going to make us bankrupt, which is why I wasn't saving up for it, but apparently they don't have to.

Ah I see.. Ive just had a look at the EDF trust, apply with them...

Im going BKY next month and am in the process of saving, its hard but it will be well worth the wait. Dont forget you know, you can agree that you are going to go bankrupt and take 3 months to save, you have a reason why you are not paying anything then.

Here is a good site for you to have a read/post

http://www.debtquestions.co.uk/debt_forum/

Mike_St_Helens

Also, with regard to them paying found this :

How are you made bankrupt?
An individual can be made bankrupt either in one of three ways.
Voluntarily - By the debtor themselves.
Involuntarily - By the creditor owed money (£750 Minimum).
The supervisor or anyone bound by an IVA


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