bankruptcy

[tent]

hi there can any one tell me how i go about filing for bankruptcy please

[carlmcmullen]

Have you contacted any IP's to discuss your circumstances as bankruptcy is a serious thing and without knowing the full facts.

Do you own a property or have any significant assets?
What is your occupation?
How much debt do you have?

These are just a few of the q's i would ask first.

Assuming you are confident Bankruptcy is the best option for you then you can either contact the CAB and see if they can assist with filling in the forms, or your local county court to request the documentation.

Once you have the docs there is cost (i think it is £550 but can be reduced if you are in receipt of benefits) you will need to make an appointment to speak with the Bankrupcy clerk who will check over the docs and decide if he/she feels bankruptcy is best for you.

At this point a line is drawn under your debts and in the hands of an Official receiver who will contact you over the next couple of days and assess your Income and expenditure as you could have an Income payments order, whcih is basically a payment for three years.

There are other factors that need to be taken into account but an IP will be able to advise fully.

Have you seeked any advice ?

[Adam Davies]

Hi
You can go to the Insolvency Services website and download online bankruptcy forms.
The fee is £485
Regards

[tent]

hi sorry what is an ip? i have no assets except an old diesel van,im a postman,and my debts are roughly 25000,i have no fixed abode as i cannot afford to make rent payments as the csa also screw me for 240 a month as well.will i still be able to hold a basic bank account as my wages are paid that way any advice would be helpfull as i really dont know what to do

[MelanieGiles]

IP stands for Insolvency Practitioner.

You will be allowed to hold a basic bank account under bankruptcy proceedings, as a method for receiving your salary. If your present account is not overdrawn, the Official Reciever can give clearance for the account to be unfrozen after the bankruptcy order, and it is then down to your bank's own discretion whether they will continue to allow you to hold an account with them.

[Skippy]

If once you have taken advice you are sure that BR is the way forward for you, I would recommend completing the forms on the Insolvency Service website - www.insolvency.gov.uk. You can amend and save the forms as you go along and then print them before you go to court. As Andy says, the fees are £485.

Once you have made the decision I would also suggest that you call your local county court to find out whether they have an appointment or walk in system - some courts have very long waiting lists.

Good luck, and please ask as many questions as you need to.