how little disposable income do you have to have before you can be considered for bankruptcy? also what are the real life consequences of going bankrupt. what happens to your wages etc and how difficult is day to day life made? could we still get a phone line, pay council tax by direct debit etc?

wow. so then we would just continue to pay our mortgage and keep our house whilst removing our unsecured debts? would teh 20000 unsecured debt attached to our mortgage also be taken into the bankruptcy? in reply to fergiedoggy it feels great to have all you people to help guide us through and thanks...

we could keep our house? how would we be able to do that. sorry dont mean to sound stupid..im just not sure how all this works. what would you guys do in our situation? thanks so much for everyones input it means a lot Bx

so that would mean we would be more in debt? if we were to surrender the property do you think it would be a cleaner break to go bankrupt? afetr all we would have no other assets only our household goods. would they be taken away from us?

i havent heard of a dmp before. what are the basics and how do i go about setting one of these up? also does anyone have any advice on how to sort out the accomodation predicimant? we are in negative equity so even if we do sell at the reduced price (if we even get a buyer in this market) will we no...

hi thanks for quick reply and the congrats...we are both so chuffed :). we havent even told friends and family yet as im only 4 weeks pregnant so not told ip.re the 20000 unsecured part of mortgage we have had a bit of confliciting advice from debt free direct. one advisor said it would probably be ...

HI...what a fab find, a website to get genuinely good advice. myself and my husband are in a bit of a sticky situation. we have a fair amount of debt, 17000 unsecured loan with Northern rock, 7500 unsecured loan with natwest, two credit cards totalling 3800 and a 500 pounds overdraft. We also have a...