How long does the BR process take?

MockneyGooner

I know it will vary depending on individual circumstances but in general how long does "going bankrupt" normally take, ie at what stage can I draw a line in the sand and say once again I am responsible for my own finances (OK that came out wrong)

I have been unemployed for two months now with little chance of getting a job until the new year, and was hoping that I could start the new year and new job free from sword of damocles that is above my head. Is it once the Court has granted the Bankruptcy order I start a fresh, or do I have to wait for the OR interviews etc

MicheH

As soon as you have that bankruptcy order in your hand the creditors cannot touch you.. if bankruptcy is the only solution for you.

In order to get that order you must show the judge that you are in fact insolvent and have sought professional advice. National Debtline, CAB and CCCS offer advice that is free and constitutes at that professional advice that you need.

We waited about a month for our court date, some courts are said to offer drop in sessions. Once BR is decided upon it can all be over very quickly.

Get that advice first though yeah.

MockneyGooner

I am speaking to the CCCS but I have no income at the moment and about £42k worth of debts, I have a 50% share in a house but the equity is not enough to come close to my debts. The other party is unwilling to sell the house so I feel I am left with BR as the only recourse