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spices100
New Member
67 Posts |
 Posted - 21 August 2009 : 06:28:28
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DIY Bankruptcy or through Practioner
I have decided the best way forward for me is a bankruptcy. i am 32 single male living with parents oweing £50,000
on credit cards, overdrafts and loans.
i am currently unemployed but looking for work as a shop assistant. i rang a firm that handles bankruptcys and quoted me
£500 to handle it for me. is this the going rate?
they gave me abit of the hard sell so wasnt impressed. just wanted to know if its easy enough to do it myself. they said
they are experts in it and that they would get in a better deal as in discharged early, no ipa and restrictions etc.
i would like to hear from people who have do it themselfs and any tips they can give. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 21 August 2009 : 06:43:35
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Hi,
The majority of people do their own bankruptcy, and you will find plenty of help on this forum. You can fill the forms in online and save them as you go along. You can find the forms here:
http://www.insolvency.gov.uk/
Don't forget that if you use a company, the fees do not include the court fees of £510.
The glimmer gets brighter all the time
Jan
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Edited by - Niobe on 21 August 2009 06:44:27 |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 21 August 2009 : 07:04:31
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I think RevivaUK, who post on this board, charge about £300 for completing the forms so if this is all the other company would be doing then they are quite expensive.
I would recommend completing the forms yourself as finding additional money to pay a firm isn't easy and especially if you are unemployed.
The forms aren't difficult to complete and there is plenty of help on this board in case you are not sure what information to enter in which section. |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 21 August 2009 : 08:05:44
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hi Spices 
As getting outofdebt and kallis3 have said the forms are reasonably easy to follow - I did them the night before my court - took a few hours but was OK - that was after consulting an IP who gave me a free interview.
You are struggling now so do not struggle even more.
Get the forms make an appointment there and then as the court may be busy!! The money is paid when you lodge the form. You MAY qualify for a reduced rate as you are on benefit - ( I am told that is a bit of a battle though - I was on benefit following a breakdown, but paid the £510 - did not attempt to ask them)
Experts are fine and there are some good firms but some bad ones too - watch out.
When you have the form (get a couple of copies for fear of errors (although the OR will go through step by stem when you have your appointment or telephone interview). Then, if you have questions post them her - you will get lots of advice and people sharing their experiences. - It is a great site and free!
Good luck, Richard
"There are no problems - only solutions..." |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 21 August 2009 : 08:53:21
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The process for filing for bankruptcy under a debtors petition was designed for people to file thier petitions themselves - there is no actual need for anyone to require assistance to do this. There are many companies out there who provide the bankruptcy assist service (my own included)but to be honest unless you have been trading, which can make the process more complicated, and advice should be sought, or you have a form phobia or literacy problem you really should have no difficulty in doing the process yourself.
The CAB offer a form completion service for those in real need/diffiulty for which there is no charge and they can also help with various schemes wherby you can have a voucher provided to meet the costs of filing your letition if you are indeed unemployed or on a low income, so in the first instance you should make an appointmen t with your local CAB who can help you with fees etc and assistance with the forms if required.
I appreciate on first glance the forms appear rather daunting but provided you have all your paperwork to hand and set aside an uninterrupted hour on a clear table top you really should have no difficulty whatsoever, and if in doubt of any of the questions you can always ask us one here, we would be only too happy to help
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 21 August 2009 : 08:59:28
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Sorry forgot to add that under no circumstances whatsoever can any bankrupty assist company'get you a better deal re discharge/IPA etc' The decisions regarding your bankruptcy are made purely by the insolvency service and any firm/individual offering to get you a better deal is blatently lying to get business and putting the hard sell on you. No one can influence the Official Receiver in any shape or form on your behalf!
Perhaps the firm offers ways of getting around explanations which may 'hide' actions taken such as deliberately borrowing money when you knew you could not repay etc, but non disclosure of circumstances or indeed delibirately not giving full disclosure is fraud, and if an individual was found to have deliberately misled the OR on the forms or at interview, there would be repercussions
To be honest I would steer clear from any company offering such advice or service.
Boy am I now wound up for the day!!!!!
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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debtinfo
forum expert
2826 Posts |
Posted - 21 August 2009 : 09:13:46
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| i agree completely with melanie, anyone who guarantees to stop you getting an IPA/BRO is clearly misguided. They often have a standard way of filling in the form and often get key details wrong on the form which winds up examiners no end |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 21 August 2009 : 19:10:19
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Avoid them like the plague and you can get all the free help you need from here to fill the forms in.
The glimmer gets brighter all the time
Jan
xx |
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Topic |
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DIY Bankruptcy or through Practioner
