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ddonna
New Member
89 Posts |
 Posted - 15 October 2010 : 13:16:41
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can my petition for bankruptcy be rejected by the court.im so worried that if i borrow the money for my bankruptcy fees,the court might say no and then im in more debt.
any advice x |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 15 October 2010 : 13:56:32
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Hi Ddonna
As long as you are insolvent ie. your debts are greater than your assets and therefore you are unable to pay your debts when they fall due, and the court is satisfied that this is the case and the documentation is completed correctly with the fees being payable, a Bankruptcy Order wll be made. |
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donna pearcy
Starting Member
United Kingdom
14 Posts |
Posted - 15 October 2010 : 14:03:44
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The trouble is i do pay my debt at the minute but i havent got enough to live ,plus my husband has alot of debt and is on debt management which we'll never clear.I just know one day i'll not be able to pay it so thats why im considering bankruptcyquote:
Originally posted by Blackie
Hi Ddonna
As long as you are insolvent ie. your debts are greater than your assets and therefore you are unable to pay your debts when they fall due, and the court is satisfied that this is the case and the documentation is completed correctly with the fees being payable, a Bankruptcy Order wll be made.
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 15 October 2010 : 14:54:08
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| It's highly unlikely that you will be refused BR. I was just about able to pay my minimum debt payments but the amount I had left over for food, clothes, etc. was a lot less than the guideline amount the OR allows. If I allowed myself the amount the OR allows for expenses then I was insolvent by quite a bit. |
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debtinfo
forum expert
2826 Posts |
Posted - 15 October 2010 : 20:20:47
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| This is how you know you are insolvent, look at your whole monthly income, now take out all th money needed for your rent food, bills transport etc. Now look at what you have left. Is it is enough to pay all the reuqired monthly payments for your debts. If the answer is no then you are insolvent and you should not have any worries when you go to court |
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can petition for bankruptcy be rejected by court?
