Considering Bankruptcy ...

pointer2null

Got £32K of debts and can't get anywhere with them. CCCS recomment bankruptcy.

Got a few questions potential problems though.

1) I rent and sub let rooms even though I'm not allowed to do according to my tennacy (been the only way I've survived this long). Do I declare the income anyhow, keep quiet or kick my lodgers out? Also I pay the rent money into my bank account - are they likely to ask where that come from?

2) I ride a motorbike and it urgently needs some maintainace - I have just enough credit left on a card to do the stuff that needs doing. But will that cause a problem when they examine the statements and see I've borrowed about £400 a month before filing for bankruptcy?

3) I have a job but no spare cash - I'm not going to be able to afford the fees - is there anything i can do (other than a cash advace from the remaining card)?

Confused and worried.

gettingitsorted

pointer2null wrote: »

Got £32K of debts and can't get anywhere with them. CCCS recomment bankruptcy.

Got a few questions potential problems though.

1) I rent and sub let rooms even though I'm not allowed to do according to my tennacy (been the only way I've survived this long). Do I declare the income anyhow, keep quiet or kick my lodgers out? Also I pay the rent money into my bank account - are they likely to ask where that come from?

2) I ride a motorbike and it urgently needs some maintainace - I have just enough credit left on a card to do the stuff that needs doing. But will that cause a problem when they examine the statements and see I've borrowed about £400 a month before filing for bankruptcy?

3) I have a job but no spare cash - I'm not going to be able to afford the fees - is there anything i can do (other than a cash advace from the remaining card)?

Confused and worried.

i personally would kick the lodgers out ,as if you are considering BR then keeping things simple would make things easier.

3) are you paying your creditors at the moment?

pointer2null

Yeah I'm just about keeping up with the minimum payments but that uses the rent from the lodgers. Without that I'd be about £600 short per month. Even with them I'm seriously struggling with everything else.

gettingitsorted

well if you are seriously think bankruptcy is for you then stop paying all your creditors.and give the lodgers a months notice then you have your fees .

pointer2null

D'oh - I never thought of that.

How simple an answer to something thats has been worrying me.

Thank you.

gettingitsorted

your more than welcome glad to be of help