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My father is 82 and has credit card debts of over £30k run up over the last 2 years. He has no assets such as property but receives two pensions, one from the Bar and one from the Civil Service totaling around £3500 per month. He currently lives in a rented flat in Fulham London which costs around £1300 per month but needs to move to a nursing home now as his health is generally too poor for him to live independently. This is likely to cost £1400 - £1800 per month. If he declares bankruptcy how will this affect his pensions and his ability to pay for private nursing care?

Hi toby_b

I would have thought that by petitioning himself for BR, the OR will take into consideration his income and expenditure and the amount he has as surplus. The OR is not there to punish those who are in debt, but rather to assist. They also need to show that they are acting in the best interests of the debtor and creditors. He/she will only take a % of the surplus income after all other outgoings have been taken care of.

Due to your father's age, it is in my opinion that his best course of action would be to petition for bankruptcy. Others may differ in their opinions and I am sure they will be along shortly to offer further advice.

Hope this helps.

Sue

Ho Hum! Think I'll bang my drum!

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