Help with applying for bankruptcy or deo

Ghostt

I am going to apply for bankrupts or dro and all of my depts are from years ago and amount to about 5k or less i have a student loan as income and I am just abit worried because a few years ago someone was transferring me money and I was withdrawing it and a few of my bankers got closed for fraud and I tried to explain to them I didn’t even know what I was doing but they would not disclose any information I would like to know if it would be okay to apply for bankruptcy and will the or look that far back into my closed accounts and question these transactions and will it cause any problems when applying for bankruptcy or dro?

sourcrates

Hi,

Why on earth are you considering bankruptcy for a meagre 5k ?

Even a DRO is a bit extreme for such a small amount of money.

To be honest I cannot made head nor tail of your post, these debts you say you had, how long ago was this, how long since they defaulted or you made payment towards them ?

Ghostt

Ghostt wrote: »

I am going to apply for bankrupts or dro and all of my depts are from years ago and amount to about 5k or less i have a student loan as income and I am just abit worried because a few years ago someone was transferring me money and I was withdrawing it and a few of my bankers got closed for fraud and I tried to explain to them I didn’t even know what I was doing but they would not disclose any information I would like to know if it would be okay to apply for bankruptcy and will the or look that far back into my closed accounts and question these transactions and will it cause any problems when applying for bankruptcy or dro?

A few years ago I one of them is a ccj I only have my student loan and have bills to pay and I just want to clear the debt

sourcrates

Yes but how many years ago exactly ????

Six years or less ???

Ghostt

Less than that maybe 2/3 years

Annie35

Are you making any payments to them now?

Are any debts being chased? (Bailiffs/debt letters)

Ghostt

Not making any payments and they are being chased

Ghostt

sourcrates wrote: »

Yes but how many years ago exactly ????

Six years or less ???

No payments and yes

sourcrates

Your bankruptcy fee is £680 quid, I doubt they will approve bankruptcy for such a low figure, just pay them £1 a month each, or whatever you can afford out of your budget, forget going bankrupt.

Ghostt

sourcrates wrote: »

Your bankruptcy fee is £680 quid, I doubt they will approve bankruptcy for such a low figure, just pay them £1 a month each, or whatever you can afford out of your budget, forget going bankrupt.

But there is like 5 different company’s how can I keep up with them ? And also how do I pay them £1 a month ? Thank you for your help also

sourcrates

Ghostt wrote: »

But there is like 5 different company’s how can I keep up with them ? And also how do I pay them £1 a month ? Thank you for your help also

Very simple, you write to each creditor explaining your circumstances, and include a copy of your budget, work out how much you can afford to pay, even a pound if that’s all that’s available, ask them for their bank details, make the payment by online banking.

How much is the CCJ debt wanting ?

You can apply to the court to reduce the payment if it’s unafordable.

Going bankrupt for £5000 is far too extreme, if you’d owed 50k I would have said yes, go bankrupt, but not for five.