The fee has now gone up to £510 ,most people (myself included) on this forum seem to stop paying their creditors in order to save these fees.Creditors may make you bankrupt,but I don't think this happens very often and would probably take a long time.If you've decided that this is the route you want to take probably best to do it asap.
That depends who your creditors are. The Council, HMRC and American Express are companies that will definitely declare you BR if you are in arrears. Other creditors may declare you BR but this can take months as they just normally threaten BR to try and make you pay the arrears.
The BR fee is now £510 as it increased in April.
Edited by - gettingoutofdebt on 24 June 2009 07:05:54
What happens if I can't afford the fee of £475?
Posted - 23 June 2009 : 23:14:48
