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| soscared |
Posted - 26 August 2008 : 22:27:42
just for a light bit of reading i have been reading some of the previous posts..
jo in one of your posts you said you were worried they would not grant br.......is there any reason why someone would not be made br
thanks |
| 2 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 27 August 2008 : 12:27:56
Hi Soscared,
The judge can deny a BR order if they feel it's not in your best interest. The most common reason that a BR debtors petition will be refused is if you were in an IVA and couldn't produce a letter/certificate of termination from your IP.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| Needafriend |
Posted - 27 August 2008 : 07:54:20
Hey Soscared,
I was worried as I am a worrier and just felt that nothing ever went right for me and being negative, i thought i would get there and someone say to me "No were not allowing it" but they did.
From what i understand you may not be allowed to go BR obviously if your not insolvent as in you have enough to pay your bills and can pay your debts back or the equity in your home once sold would pay all your debts back.
On the Insolvency site i think there was another reason why you cant but i was feeling negative about it all, John did answer this for me and as long as you are insolvent then there wont be a problem.
The other thing is if you can afford to go into an IVA with what you have with your disposable income left over per month then they can advise an DMP or IVA, but most people have failedd those and so it then means 1 option left which is BANKRUPTCY.
Hope that helps, i found more info on the insolvency site, looking through their publications.
TTFN
JO
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!"
You can read my blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/2008/08/24/my-debt-free-future/ |
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