This is going to sound really daft! I sought advice as I have £30k debts, am a single parent on benefits and cannot cope anymore. Bankruptcy was advised as my main option (my only one really) so after a lot of thought I decided that its the right thing to do. (I'll get to the point soon, I promise!) I'm due in court next week, am 88% through completing the online forms and decided that a quick check of my credit report would help make sure I hadn't missed any creditors. I applied for a free credit report and then upgraded it for £3.97 (big spender) from annualcreditreport.co.uk because I couldn't believe that it said my credit rating was good 919 out of 1000! My point (finally!!) is I truly cannot afford to pay these debts. I pay the bills and then use credit to live, is Will I still be able to declare Bankruptcy?
Now I'm confused as well as worried! Thanks as always Leah
yes of course you will. If your debt's outweigh the value of your assets you are insolvent and therefore have the civil right to declare yourself bankrupt.
I am in exactly the same position, I was shocked when I ordered my credit score and it was over 900! Like you my debts outweigh my assets quite hugely though... :o(
My court date is tomorrow so if you had any questions before you go, please ask.
I'm due in court next week
Posted - 11 February 2009 : 10:57:36
