Partnership Joint Bankruptcy

Baldly_Going

My wife and I are over £47k in debt and have sold nearly everything to survive. We run a business as a partnership which has not provided any income since the credit crunch though it does pay for itself. Luckily I have got some consultancy work which keeps us going (though this is subject to one weeks notice of termination).

We have no home or any assets apart from a car (worth about £500) which is needed to travel to work and an old static caravan which we can live in over the summer. Luckily someone has let us rent a holiday home over the winter for a reduced rate. We spent last winter stuck in a 30 year old Bedford motorhome which leaked and froze. We have done our best and we want to get out of this mess and live a 'normal' life.

We have spent a year paying the minimum (as that's all we could afford) off our credit cards and basically we have made no inroads into them. We have now stopped paying our creditors so that we can save up to go bankrupt.

We were told that we can do a partnership bankruptcy (and only one set of fees is required - yipee some good news) and that we need to fill in Forms 14 - 18 which I've downloaded.

My question is How do you fill in Forms 14 - 18? Also any other advice would be appreciated.

now

Baldly_Going wrote: »

My wife and I are over £47k in debt and have sold nearly everything to survive. We run a business as a partnership which has not provided any income since the credit crunch though it does pay for itself. Luckily I have got some consultancy work which keeps us going (though this is subject to one weeks notice of termination).

We have no home or any assets apart from a car (worth about £500) which is needed to travel to work and an old static caravan which we can live in over the summer. Luckily someone has let us rent a holiday home over the winter for a reduced rate. We spent last winter stuck in a 30 year old Bedford motorhome which leaked and froze. We have done our best and we want to get out of this mess and live a 'normal' life.

We have spent a year paying the minimum (as that's all we could afford) off our credit cards and basically we have made no inroads into them. We have now stopped paying our creditors so that we can save up to go bankrupt.

We were told that we can do a partnership bankruptcy (and only one set of fees is required - yipee some good news) and that we need to fill in Forms 14 - 18 which I've downloaded.

My question is How do you fill in Forms 14 - 18? Also any other advice would be appreciated.

Welcome to the board. Sorry but I have never heard of a partnership BR, we had to pay the fees x 2

debtinfo

What particularly are you struggling with on the forms

BB&B

This is a business that is entering into Bankruptcy.

Form 14 Joint Bankruptcy Petition against Individual Members
Form 15 Affidavit of Individual Member(s) as to Concurrence of All Members in Presentation of Joint Bankruptcy Petition against Individual Members

I would also suggest that you seek the advice of the Business Debt Line at



http://www.bdl.org.uk/

Tim

Baldly_Going

Hi debtinfo,

I find the 'lawyer' talk confusing. Have no idea what to cross out or fill in the empty boxes. I can sort out the list of creditors and assets but that's about all that makes sense. Are there any examples of how to fill in the forms?

Many Thanks

debtinfo

Im afraid not, Just get the main parts like the assets and creditors parts filled out first, The rest will be quite quick and the court will probbly help you out when you get there, just work through it logically, ie current address, previous address etc, Also dont worry, i have rarel seen a partnership form that was filled out absolutley correctly.

Baldly_Going

Thanks to everyone for their help. I have received the pack from the BDL which has lots of good info in it.

Can someone confirm all the forms that I need to fill in, with the knowledge that we are a partnership, both of us want to go bankrupt and both of us will be signing the forms? Would I be correct that it is:
1 x Form 14
0 x Form 15
1 x Form 16
2 x Form 17 (one for each of us)
1 x Form 18

Thanks