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Should i/can i go bankrupt?
Lambrusco_Cowboy
Posts: 18 Forumite
Hi all, newbie here!
Just wondered if anyone had any advise on whether i should try and go bankrupt or not? Im in alot of debt and at the moment have about £100 per month left after debt has been paid! Luckily im at the folks for now, but this cant last forever and i cant afford my own place so dont know what to do!?!?!
any help would be appreciated
Just wondered if anyone had any advise on whether i should try and go bankrupt or not? Im in alot of debt and at the moment have about £100 per month left after debt has been paid! Luckily im at the folks for now, but this cant last forever and i cant afford my own place so dont know what to do!?!?!
any help would be appreciated
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Comments
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Lambrusco_Cowboy wrote: »Hi all, newbie here!
Just wondered if anyone had any advise on whether i should try and go bankrupt or not? Im in alot of debt and at the moment have about £100 per month left after debt has been paid! Luckily im at the folks for now, but this cant last forever and i cant afford my own place so dont know what to do!?!?!
any help would be appreciated
Bankruptcy seems a bit drastic without more information. How much do you actually owe?
Can you post your SOA (statement of affairs) which is basically a list of you rincome and outgoings?
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well i owe 30k and my income is about 12k0
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does that help at all?0
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If you post a proper statement of affairs people will be able to help more. On the dfw main page there's a sticky at the top that tells you how to do it.Unless I say otherwise 'you' means the general you not you specifically.0
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Lambrusco_Cowboy wrote: »Hi all, newbie here!
Just wondered if anyone had any advise on whether i should try and go bankrupt or not? Im in alot of debt and at the moment have about £100 per month left after debt has been paid! Luckily im at the folks for now, but this cant last forever and i cant afford my own place so dont know what to do!?!?!
any help would be appreciated
There is not enough information here for us to be able to give you best advice. The first thing you need to do is put together a financial statement, this will detail all your income (benefits, wages) and expenditure (rent, gas, food etc). If you post it up here people will be able to let you know if there are any areas they could help you save money on.
If you need any help completing a detailed income and expenditure CCCS have a free online debt advice system called Debt Remedy – once you have inputted your income and expenditure the system will let you know exactly where you stand and the best way forward. This link will take you directly to Debt Remedy and it only takes a few minutes to complete.
If you decide to use debt remedy once you have your outcome, let me know and then we could always look at it in more detail for you.
Good luck
SarahI am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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