Whether £8,000 would be enough, would depend on the fees your IP would charge. I do not feel that this is viable to be honest, and if you have no assets I would simply declare yourself bankrupt.
It sounds to me as if you have agreed to pay your IP upfront fees, under the terms of the engagement letter.
Im starting to think of BR as an option but im so ashamed....if my family found out they would be devastated.I know mum would worry herself sick over it.
Im also director of a ltd company and that would be effected.Its also going to be so difficult for me to find work in banking again
ive only traded as ltd company as most contractors do for the tax benefits-but yes I could just work under my name.
I am concerned I would manage to find work in this field if declared bankrupt
I would be able to find the work- the problem is we get quite vigorously credit checked before joining. I would obviously fall down at this point.
im not sure how investment banks feel about hiring people made bankrupt
you might be right melanie, i need to go through all my options today. Would I be able to arrange a DMP knowing I was laid off and unsure of future income?
Yes - so long as you have some disposable income to offer - and most companies will do this for £80 upwards. The great thing about a DMP is that it can be flexible to suit your changed circumstances.
