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Posted: Tue Oct 14, 2008 7:12 pm
by wobly123
i have heard that credit card companys could not make you bankrupt for the money you owe on them could anyone confirm this for me
Posted: Tue Oct 14, 2008 7:37 pm
by Adam Davies
Hi
They could but it's unusual.
American Express and Diners Club are more likely too than other creditors but would normally go for a charging order in the first instance.
Regards
Posted: Tue Oct 14, 2008 7:47 pm
by MelanieGiles
They most certainly can make you bankrupt if you owe them money you have not been able to pay, but are unlikely to do so as it would cost them in the region of £2,000 which may not ultimately be recovered. In contrast, they are more likely to want you to stay outside of bankruptcy proceedings where they can continue to pursue you for payment directly.