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T O P I C R E V I E W
james.c
Posted - 16 July 2008 : 11:13:34 Is it better for me to declare bankruptcy or wait for my creditors to do so?
3 L A T E S T R E P L I E S (Newest First)
carbsakey
Posted - 16 July 2008 : 16:56:32 I was recently made bankrupt by creditors. I was trying to save the money to do this myself but they beat me to it. In the end i saved money as I did not need to pay for it & the cost to the creditors for making me bankrupt will now be added to my bankruptcy
Skippy
Posted - 16 July 2008 : 16:15:52 I chose to petition for my own BR as I didn't want to be waiting for my creditors to do it, I wanted it over as soon as possible. If you are waiting for your creditors to make you BR, don't forget it costs them around £1500 to make you BR, and they may get nothing back for this if you cannot make any payments.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
It really is a personal choice. However, most debtor's petitions (where you petition your own bankrutpcy) will result in a telephone interview only, whereas creditor's petitions result in a face to face interview.
