www.iva.co.uk

Hi, if one has debts where the creditors are credit card companies (Barclaycard, Egg, etc), should these be regarded as 'unsecured creditors' (especially when it comes to filling in the form for bankruptcy: statement of affairs)?

Hi bankruptcy and welcome to the forum

So long as the debts are unsecured, and not secured against any assets you may own, they should be listed as unsecured creditors on your application forms.

Hi bankruptcy

section 4 ( page 14) of the statement of affairs is for loans that are secured on a house such as a mortgage.

section 4 ( page 15) of the statement of affairs is for loans such as credit cards, loans, catalogue debt, mobile phone ,utility bills etc.

Is there any reason you are specifically looking into bankruptcy

Hi and thanks, both MelanieGiles and Reviva UK, and sorry about the silly (temporary) name "bankruptcy" (it's michael). The reason for choosing bankruptcy rather than an IVA is that according to both the local CAB and CCCS (I've had several interviews with both), I have not got enough 'disposable income' to warrant either an IVA or even a Debt Management Plan. And so I'm taking their advice and shuffling along the bankruptcy track; preparing for the coming year or so.

Thanks again

michael

How much disposable income do you have, and what is the level of your overall debts?