poss going bankrupt little advie

beliver

hi me and my partner owe just short of 50k we live in a council house and have 6 children,wondering at the minute we are on a dmp plan and paying just short of 800 a month still early days but findind it quite hard to adjust to a tight budget,if we went bankrupt what happens exacly do baliffs take all the furniture and kids toys.
and how much is it to go bankrupt i got made redundant from my full time job 5 months ago and have managed to get a part time job .
any sort of advice is appreciated cheers in advance

jedi82

Hiya, you need to contact one of the debt charities like CCCS, National Debtline or CAB (see the stickies at the top). It costs £600 each to go BR but you can have this reduced to £450 if you are on certain benefits but again the charities will advise you this.

If you go br bailiffs will not be sent to your house. The OR may be interested in any assets you have, such as car but will not be interested in anything like toys, furniture etc unless you have something worth a lot of money.

Hope that helps a bit.

Jedi x

dojoman

https://www.nationaldebtline.co.uk/
https://www.citizensadvice.org.uk/
https://www.cccs.co.uk/



Below is a link you may found helpful about going BR?

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

now

jedi82 wrote: »

Hiya, you need to contact one of the debt charities like CCCS, National Debtline or CAB (see the stickies at the top). It costs £600 each to go BR but you can have this reduced to £450 if you are on certain benefits but again the charities will advise you this.

If you go br bailiffs will not be sent to your house. The OR may be interested in any assets you have, such as car but will not be interested in anything like toys, furniture etc unless you have something worth a lot of money.

Hope that helps a bit.

Jedi x

So true I was worried that everything would be taken but I found the OR very fair and helpful they even told us to make sure we included things we thought might not be paqrt of BR just incase a creditor tried to come back years later for debts which should be cleared by BR. thank you for your reply it is people like you who help others feel at ease on this board xx