We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Bankruptcy

darcy115
darcy115 Posts: 9 Forumite
in Bankruptcy & living with it
would it be better for me to volunteer for bankruptcy of for it to be enforced
«1

Comments

  • ghostfinder
    ghostfinder Posts: 176 Forumite
    Part of the Furniture Combo Breaker
    Hi,

    Dont think anyone will make you bankrupt really.

    Will cost them a lot of money to do it and they may get nothing back.

    who are your debts with?
  • darcy115
    darcy115 Posts: 9 Forumite
    i have been issued with a notice of bankruptcy proceedings, but was already going to do it myself, just wondering which would be the better option
  • MikeJO
    MikeJO Posts: 374 Forumite
    Part of the Furniture 100 Posts Name Dropper
    If someone else makes you BR you won't have to pay the £700 fee.
    “Procrastination is my middle name....well it would be if I could be ar**d to contact Deed Poll."
  • darcy115
    darcy115 Posts: 9 Forumite
    Which is what i was thinking but will i still have other creditors chasing me with it being enforced by one
  • debt_doctor
    debt_doctor Posts: 4,595 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Is this just a letter suggesting an intention to make you bankrupt?

    After the initial court process, the procedure is the same, except that (certainly in my area) that debtors petitions go to a level 1 examiner, and creditors petitions go to a level 2 examiner. This is because there are expected to be more assets and circumstance to investigate in a creditors petition, although not neccessarily the case.

    DD
    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
  • darcy115
    darcy115 Posts: 9 Forumite
    the letter has advised that it is a notice of bankruptcy proceedings and i have 14 days to reply if i do not they will commence with the br immediately. I have no assets so to speak of.
  • KaiserBill
    KaiserBill Posts: 125 Forumite
    Seventh Anniversary Combo Breaker
    darcy115 wrote: »
    the letter has advised that it is a notice of bankruptcy proceedings and i have 14 days to reply if i do not they will commence with the br immediately. I have no assets so to speak of.




    Have they already obtained judgement against you ?
  • darcy115
    darcy115 Posts: 9 Forumite
    not as far as i am aware there isnt a judgement in place
  • lifebeginstoday
    lifebeginstoday Posts: 48 Forumite
    Who is the letter off HMRC? Or just a threatagram from a DCA?
  • darcy115
    darcy115 Posts: 9 Forumite
    no not off HMRC but it is historic council tax the letter is directly from them
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.4K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture