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T O P I C R E V I E W
Lynda.p
Posted - 25 February 2012 : 14:15:06 I am 66 years old and am on pension credit. I have 15 creditors and owe £80,000. If I become bankrupt what will happen? Say length of bankruptcy etc.
1 L A T E S T R E P L I E S (Newest First)
Niobe
Posted - 25 February 2012 : 14:44:40 Hi and welcome,
Your bankruptcy would last 12 months usually or sometimes it could end sooner. Your credit record will be bad for six years from the date of BR and you may, if you have over £20 DI a month after essential bills are paid, have to pay an income payement agreement for three years.
BR will cost you £700 but not sure if you could be eligible for a rebate if you are on a state pension.
Have a word with one of the experts whose details you can find on the left hand side of the page.
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