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londondude l | How do i apply for bankruptcy? |
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jonti
 |
Not quite sure about the latter stages of the process, but for starters you send me all of your money, give me your cars, sign over your house and villa to me and that should just about be enough to get it up and running.
Ah... but that only applies to financial bankruptcy... now if you're morally bankrupt... send your wife over. |
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jb
 |
Call a lawyer |
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Martin M
|
You need to go to your local County Court & ask for a Bankruptcy Petion form. Fill this out & pay a deposit of £325 & £150 court fee, the judge will most likely hear the petion that day & make a judgement. If he/she decides to approve the order the case will be passed to an official reciever who will contact you & ask for any assets to be declared that can be used to pay some or all of the debts.
Bankruptcy is a really bad move if you can afford some money per month to pay off debts, even a small amount.
log onto www.nationaldebtline.co.uk fro more details on the process, they are an independant charity & have helped me.
Also you can get advice & support from ordinary people on www.themotleyfool.com it's a forum board for lots of subjects including debt. Please don't go to a company offering to reduce your debt, they charge a lot of money that you could otherwise be paying to your creditors.
Good luck |
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David W
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there are 2 ways.1st is go to the citizens advice bureau.they have the documents that you need to fill.in.Also ring your local county court & they send out all the info. Have you considered an iva?i used the debt people. totally professional gave the best advice for me. 08000 825826 |
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nickdc1960
|
This website will give you a bit of a background on the issue...
http://www.creditmanagementworld.com/bankruptcy/bankruptcy01.html |
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gum s
|
contact an attorney:
5 Tips For Getting An Attorney for your Bankruptcy
http://get-out-of-the-debt-trap.com/category/5-Tips-For-Getting-An-Attorney-for-your-Bankruptcy.html |
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blue
 |
There may be other ways to help yourself if your are having financial difficulty. You could phone a debt management company who do not charge for their services, but who would ask for your incomes and outgoings, then decide how much you could afford each month. They would set up a direct debit with your bank, and take the agreed amount every month, then they would distribute the money evenly between your creditors, but still leaving you enough money to live on.
Another way is to ask the same company if they do Iva's (Trust Deed in Scotland), this is where they would pay your debts in much the same way for three years, then after the three years any debt left over is written off.
Try pay-plan, you should get the number from directory enquiry. The CAB should be able to give you other companies who do the same. Don't pay companies for their services to help you, there are some like the one I have mentioned who don't charge.
Best of luck. Hope all works out well. |
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Pington
 |
Be sure that you want to, as it does mean you could lose everything - if you have a business it's a strong option, but for personal finance there are better solutions. You could go with the less expensive IVA but these still cost you around £7.5k. Better still go for a DMP (Debt Management Plan which you can either co-ordinate yourself) or use a free (charity) service to help you - someone like the CCCS will give you good, free advice, they can take over management of your debts, speak to all your creditors and negotiate minimum payments (can be as little as 5% of usual monthly payments) and will usually get all interest and charges stopped. They are definitely worth talking to in the first instance - they are a national charity, they wont charge you for advice and they can go through your debts and recommend a solution, even if its bankruptcy, they can still advise you on how to proceed. <a friend of mine who is £49,000 in debt across 14 different creditors has handed everything over to them, they have renegotiated payments reducing them from nearly £2,000 per month down to under £700 - all interest and charges have been stopped and they will be debt free in under 6yrs - meanwhile they have a reasonable amount of money to live on..... |
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kj
 |
You need to contact a bankruptcy attorney. They know all the ins and outs and legal requirements. There are different types of bankruptcy. It would depend on your particular situation as to which one you file.
BTW--You "file" for bankruptcy, not "apply" for it. It boils down to the same thing, though. |
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henry_tee
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go to the bank |
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scallywag
|
That's a very serious next step. I suggest you contact your local citizens advice bureau, consumer credit counselling service or national debt line. One of them would be able to advise you on the best next step which may not include bankruptcy. If bankruptcy is your only option, they will be able to tell you the most efficient way - you need to be careful that you don't fall into the hands of companies that will take advantage of your situation.
All the best. |
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Lynne H
|
It depends whether you are in England or Scotland. The laws are different but this site should help
http://www.insolvency.gov.uk/guidanceleaflets/dealingwithdebt/howtopetition.htm |
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