questions about going bankrupt

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loulou5

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Post by loulou5 » Mon Apr 16, 2007 12:29 am
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Hi,
Now i know an IVA is not an option for us, i have questions i am hoping some of you may be able to answer about going bankrupt.

If me and my husband decided that bankruptcy was our best option how much would we have to pay each month if we had little or no income left after bills, food all other necessities.

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MelanieGiles

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Post by MelanieGiles » Mon Apr 16, 2007 12:48 am
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If you have no surplus income, then you do not pay anything.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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loulou5

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Post by loulou5 » Mon Apr 16, 2007 1:06 am
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Thankyou Melanie.

I am confused about the time involved with bankruptcy.
Does it last 12 months or 3 years?


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coco

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Post by coco » Mon Apr 16, 2007 11:36 am
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Hi Loulou,

I have just petitioned my own BR last month, you are discharded after 12 months howver you may have to pay what the OR decides for upto 3 years (ie disposable income).

(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk
We are made wise not by the recollection of our past, but by the responsibility for our future.
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