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 Going BR but owe some creditors less than £750

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T O P I C    R E V I E W
lightattheendofthetunnel Posted - 13 March 2009 : 22:31:59
Hello, I have a number of creditors to whom i owe less than the above amount. 2x£200 and 1x£400. I have no spare money to pay any of these as my debts total £20,000 - any ideas what happens to these during/after BR?

Thanks

Just started walking on the path to a debt free future-wish me luck!

3   L A T E S T    R E P L I E S    (Newest First)
John Posted - 15 March 2009 : 19:23:50
Hi

the tax yes and the gas if you want to.

Utulities are priority and therefore if you are on a budget plan it can continue as it is.

John White
England Jackman & Spacey
jayne1970 Posted - 15 March 2009 : 17:25:36
Please confirm, I owe approx £500 under paid tax, which is been claimed back through my tax code, also approx £400 in debit with British gas, but expect this to even out over Summer Months, do I have to include these in the bankruptcy?

John Posted - 13 March 2009 : 23:38:43
Hi

the £750 threshold only applies to any creditor that wants to petition the court for your bankruptcy.

When you are declared bankrupt or you declare yourself bankrupt all debts must be listed by law, no matter how small, all of which will be included in the bankruptcy and written off.

John White
England Jackman & Spacey

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