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Bankruptcy Charges

sajw6619
sajw6619 Posts: 6 Forumite
Tenth Anniversary Combo Breaker
in Bankruptcy & living with it
Me and my wife are wanting to go bankrupt asap. We dont have the spare cash to pay the fees and are considering doing a payment plan with a debt company. Is this a good idea or is it a rip off

Stephen and Emma

Comments

  • philnicandamy
    philnicandamy Posts: 15,685 Forumite
    10,000 Posts Combo Breaker
    before you decide on anything have a read here

    https://forums.moneysavingexpert.com/discussion/1056083

    then contact one of the helplines listed for free debt advice...they'll discuss your situation & decide on the best outcome for you
    We all die. The goal isn't to live forever, the goal is to create something that will
  • sajw6619
    sajw6619 Posts: 6 Forumite
    Tenth Anniversary Combo Breaker
    I have spoke to an insolvency practitioner and spoke to cccs and they both advise that bankruptcy is the best option for us as until we voluntarily surrendered are home we had 50k worth of debt now that has doubled with the shortfall from the sale
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    what sort of pay plan, its difficult to say without any info, what is the current situation and what do they want you to do and pay
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • sajw6619
    sajw6619 Posts: 6 Forumite
    Tenth Anniversary Combo Breaker
    Basically a plan that pays off the fees in 3 maybe 4 months.
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    Yes but how much are they asking for, is it just the £600
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    IE how does this help you go bankrupt earlier than just saving the fees yourself
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
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