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T O P I C R E V I E W
landc
Posted - 07 November 2008 : 07:57:59 hi,my mum is 70 now and has been on a reduced repayment scheme with her creditors for some time but she would like to retire within the next year ,without her salary she could not continue with the current payments,she would only have a state pension and £100 per month from a private pension.would you advise bankruptcy? thanks
4 L A T E S T R E P L I E S (Newest First)
go_4_broke
Posted - 08 November 2008 : 12:08:12 Hi
If mum owns her own home or has a substantial amount of equity in it she could stand to lose it in Bankruptcy, you need to be very careful here and take good advice.
Best Regards
'Bankruptcy - an elephant from the front - a mouse from the back'
jwmc77
Posted - 08 November 2008 : 10:36:34 probably best go br....then she can enjoy her retirement!
MAC
John
Posted - 07 November 2008 : 13:07:04 Hi
certainly your mother could see the end to her debt problems more swiftly by declaring bankruptcy.
She's your Mum so i'm not sure I even need to say this, but at her age she is of a generation that considers the "B" word taboo, please tread carefully and if Mum just wants rid of the debt worries and be able to retire in peace then stick with the forum and it will happen.
You say she is on a repayment scheme, is it one where she can see an end for example an IVA.
If not then it may be better to give the helpline a call for a more personal approach to your Mums circumstances and you can get advice tailored around her which i think is more personal.
That number is 0800 078 9367.
Thanks again and i do hope that you get this sorted for her.
Jo
Your Forum Moderator
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For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
