OR Interview in 10 mins - Cacking myself!!!

lisanewman1980

Might have to put the drink on hold until baby has been born lol

IF

lisanewman1980 wrote: »

Might have to put the drink on hold until baby has been born lol

Ooops of course, sorry Lisa :o

lisanewman1980

ifwisheswerehorses... wrote: »

Ooops of course, sorry Lisa :o

:rotfl: lol

debtinfo

lisanewman1980 wrote: »

I find it really bizarre that you are going to court because you've got no money yet they want you to pay £700 each, my husband and I both went BR at the same time so we pad £1400. He had only just returned to work following redundancy and has yet to have a wage since the end of April (even that was only half his usual pay) yet we still had to pay this ridculous amount of money.We've put some forms into the court to see if we can get a rebate as the court clerk suggested. Worth a try I suppose.

There is a fairly straightforard and logical reason, work has do be done on your case and that costs money. There are only 3 groups of people who can pay for that, the creditor and since they are loosing out it cant be fair to ask the to pay for the bankruptcy, The taxpayer, again the government has always taken the opinion that the general public should not pay for it, and that leaves the debtor who after all are the one asking for the protection of the court and asking it to do that work. not that that makes it any easier to find the money of course

alastairq

In addition to DI's explanation, consider the definition of 'insolvent?'

With regards to this forum, then being 'insolvent' means being unable to pay debts as they fall due.

This doesn't automatically mean the BR individual has no money.

Or, assets that can be realised?

There are processes available to help those who actually have insufficient money coming in to fund the costs.

For many, however, simply ceasing to pay anything to any [non-priority] creditor may produce the required results.

In the end, if an individual is insolvent, and simply cannot find the funds to pay for BR, then there is little or nothing a creditor could achieve anyway.

Even a CCJ can be fruitless, as any agreed repayments may be so low as to make the whole thing financially meaningless to a creditor.

A creditor cannot extract what isn't there.