How much debt does one have to have before bankruptcy can be declared ?

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Jean.74

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Post by Jean.74 » Mon Feb 09, 2015 1:32 am
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Can someone tell me please how much one's debt has to be for bankruptcy
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luluj

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Post by luluj » Mon Feb 09, 2015 4:11 am
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A lender can technically petition for your bankruptcy if you owe them £750 or more. If you are applying for your own bankruptcy, there are no set guidelines about how much debt you must have, but bear in mind that it costs up to £700 up front to apply for your own bankruptcy.
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Michael Peoples

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Post by Michael Peoples » Mon Feb 09, 2015 9:00 am
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If your debts are under £15k [soon to be £20k] and you have limited income a debt relief order may also be an option.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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