I owe approximately £50k which is currently being dealt with through a debt management company. My circumstances have changed and I have recently become a parent therefore my income has dropped to government pay and I cannot make substantial payments per month to try and clear some of this debt. I have been trying my hardest to clear it for the past 3 years but am struggling to do so. I do not own anything, property or otherwise. Do you think that I am eligible for bankruptcy? Regards.
I would certainly recommend bankruptcy for someone in your position. It sounds as if all your debts will be written off and if you have no assets or disposable income, the OR will be unable to take money from you.
I owe approximately £50k
Posted - 30 September 2009 : 17:12:28
