My wife and I have been in serious debpt now for over 4 years and had our home repossesed over 3 years ago due to buiness failure. We have depts of around £70K and although could have entered in a IVA in the past, I have taken a lower paid job and struggle making ends meet without paying any of the debts. We are now considering bankruptcy but we can not find the money to initalise the process. Please can you offer any advice as we would like to close this chapter in our lives as it has gone on far to long.
Speak to the CAB and they will be able to advise you if there is any way you can have financial assistance with BR fee. £1020 is a lot of money to find when you struggle to make ends meet.
The alternative is to wait until on the of creditors declares you BR but this can take a long time.
hi i declared myself bankrupt dec o8 for the amount of £142,000 and my husband £130,000 and like urselves we waited over 3yrs to take the plunge our house was also repossessed. i know that the cab help to get funding 4 some people but it has 2 be extreme curcumstanses i believe! if there is anyway you can scrimp and save then do it, i found it really difficult to save but it is worth it and my only regret is that i didnt do it sooner! i am sure you will feel the same once u get the moneys together and take the plunge! in my experience most creditors will not take you bankrupt if u hav no assets. good luck.
My wife and I have been in serious debt
Posted - 16 May 2009 : 11:39:35
