looking for advice

stu67er

hi after finally coming to terms with our financial position i m left with no other alternative but too go bankrupt i think the problem is how the hell do i try and save up 1400 pounds to be able too do it everything we earn now is paid out its been a long few years which started vwhen i was made redundant in 2008 then we were reposessed in 2010 and it just got worse from thee pleaseany advice would be great

Daisy4567

Hi, there are various charities around which can help out with bankruptcy fees. Have a look at the stickies at the top of this forum, there's a list there. Good luck

National_Debtline

The bankruptcy fee is split into a court fee of £180 and a deposit of £525.

If you are on income related benefits or a low income then you can complete a form called an EX160 and may not have to pay some/ all of the £180 court fee.

The deposit must be paid I am afraid, but there are some charities and trust funds that can help you. Daisy4567 is right; you should look here for charities that help with the deposit - https://forums.moneysavingexpert.com/discussion/4279781

Laura
@natdebtline

owlet

If you are definitely going br then you can stop paying your creditors and use that money for your fees. If it looks like it will take a few months to save, you can contact your creditors and arrange to pay £1 a month token payment.

Have you contacted anyone for advice regarding bankruptcy? What is your situation?

stu67er

yes i have been in touch with a charity and been told as soon as i have the money i can fill all the forms in i have contacted al the people about help with the fees and nobody is illing to help so its going to take a long time

owlet

stu67er wrote: »

yes i have been in touch with a charity and been told as soon as i have the money i can fill all the forms in i have contacted al the people about help with the fees and nobody is illing to help so its going to take a long time

Ok, before I went bankrupt last year I contacted Step Change. They were great. They did a SOA with me and gave me a reference number.

I then phoned my creditors & explained that I was in financial hardship at the present time and was working with Step Change towards a solution. They all asked for my Step Change reference number.

As Step Change had advised, I offered to make a token payment of £1 a month. All of them accepted this & I had to send my SOA & list of creditors to each one. If any creditors don't accept then make the £1 payment anyway because if you go BR you can't show preference to one or two creditors, it needs to be even.

I made the token payments each month & because I wasn't paying hundreds of pounds in repayments, I very quickly had the money for the fees.

I suggest you follow the same path. By saying you are working towards a solution and offering the token payment it shows you are willing to pay the debt & the creditors will be happy. Do not say you are considering BR because you will get hounded for every penny they can get before you go BR. Also by having the step change reference it shows you are seeking a solution.

Hope this helps