Bankruptcy ?? Will they say NO?

nixilix

I am in around 40,000 worth of debt and earn 19,000 a year. my debts near enough equal my incoming. as i have a job and a car can they turn me down??

rog2

You are not likely to be refused Bankruptcy - but is that your only option?
Why not post a full SOA and maybe we can tell you what other options are open to you.

severussnape

hi

my oh is saying that there is three options declare, defer or reject the application.

there are some good threads on the site or get in touch with one of the free companies like payplan or cccs and they will advise you as will cab

Wonder_Girl

nixilix wrote:

I am in around 40,000 worth of debt and earn 19,000 a year. my debts near enough equal my incoming. as i have a job and a car can they turn me down??

Have you actually already applied for bankruptcy?

If you have it’s impossible to tell from what you owe and what you earn as it’s all relative, if you only have £30 a month left over after paying essentials (roof over head, gas, elec, food etc) then there is no reason your bankruptcy shouldn’t be granted. However if you have £500 a month left over but are spending this on going down the pub and designer gear then it’s likely it will be rejected.

Have you done a Statement of Affairs(SOA)? If not then make a list of ALL your incomings and outgoings and see what’s left.

Post it here and we will have a squiz and see what we can suggest as it really is impossible for any of us to give you any advice based on this info.

Are you currently meeting minimum payments?

Good Luck

WG xx