bankruptcy

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cat 1

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Post by cat 1 » Mon Aug 25, 2008 11:05 am
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Daft question? But what exactly happens when people go bankrupt? I know they apply and there is a court fee but how long does it last and during this time do people still have to pay money into thier debts.I mean the IVA works over 6 year period? If bankrupt how long do people keep on paying into thier debts~? Or do all the debt go with the bankruptcy? Do I make sense?
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chris.g

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Post by chris.g » Mon Aug 25, 2008 11:13 am
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Have a look on here, covers just about everything,

http://www.insolvency.gov.uk/freedomofi ... nindex.htm
It's nice to be back......
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MelanieGiles

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Post by MelanieGiles » Mon Aug 25, 2008 12:47 pm
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If you are required to pay monthly contributions under bankruptcy proceedings, there is a maximum time period of three years.
Regards, Melanie Giles, Insolvency Practitioner
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