If you have debt problems there are many ways to help you depending on how much you owe.
firstly, bankruptcy... you can declare youself bankrupt, or a company can do it to you, i.e council for non payment of council tax, this usually happens if you are a home owner, not if ur in rented property. bankruptcy used to last for 5yrs but the law changed, it now depends again on how much you owed. to go bankrupt you need about £500, but if u get a low income or working credit you can get the remission fee paid at the court, which will save you £150. then you only have to pay £350, to the offical receiver, you firts get an interview with them then a court date,you may not have to attend if you have the C.A.B helping you as the judge usually deals with them alot, after the hearing you get a number, i.e 333 that will be added to the yr. this number is provided to all creditors. please tho when calculating yoyr debts if you miss one out they can still collect on the money after a bankruptcy order has been made.
secondly,
insolvency is usually for business, who owe creditors money and the offical receiver deals with it.
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IVA, insolvency, bankruptcy, whats the difference?
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an IVA is a vol payment scheme which is set up by a debt agency, these companies usually charge a fee. sometimes its a cheaper option to go bankrupt, more so if your in rented accom.
all this info can be found at ur local county court at C.A.B
if you need any help pls feel free to mail me
I hope ive not bored you too much
clit
all this info can be found at ur local county court at C.A.B
if you need any help pls feel free to mail me
I hope ive not bored you too much
clit
Sex God
Quote by clitfondler
bankruptcy used to last for 5yrs but the law changed, it now depends again on how much you owed.
you may not have to attend if you have the C.A.B helping you as the judge usually deals with them all
Sorry but this info is incorrect and misleading
Quote by clitfondler
you firts get an interview with them then a court date,you may not have to attend if you have the C.A.B helping you as the judge usually deals with them alot, after the hearing you get a number, i.e 333 that will be added to the yr. this number is provided to all creditors.
Actually, this bit is wrong too. You DO have to attend a court date first at which your paperwork is rubber stamped by the judge if it is all in order (and the court staff will go through it with you first to make sure it`s all in order), you are then assigned your bankruptcy number and the appointment is set up with the Official Receiver from there.
You may not actually have to stand in front of the judge, if they`re very busy they may just take in a pile of bankruptcy order papers in for him to stamp while you wait outside.
Sex God
Quote by clitfondler
If you have debt problems there are many ways to help you depending on how much you owe.
firstly, bankruptcy... you can declare youself bankrupt, or a company can do it to you, i.e council for non payment of council tax, this usually happens if you are a home owner, not if ur in rented property. bankruptcy used to last for 5yrs but the law changed, it now depends again on how much you owed. Bankruptcy now lasts for 1 year or less if you are discharged early.
to go bankrupt you need about £500, but if u get a low income or working credit you can get the remission fee paid at the court, which will save you £150. then you only have to pay £350, to the offical receiver, Any monies due are paid to the court as you can not go bankrupt without having paid the fee first.
you firts get an interview with them then a court date, The court date comes first where you will see the bankruptcy clerk. You pay the money to the clerk and give her the completed forms. She then gives them to the judge who you may or may not need to be in the presence of. The judge will then agree or (maybe not) and stamp the form. The appointment with the receiver is then made for you. This may be a visit or a phone call (dependant on how it is done in your area)
you may not have to attend if you have the C.A.B helping you as the judge usually deals with them alot, after the hearing you get a number, i.e 333 that will be added to the yr. this number is provided to all creditors. please tho when calculating yoyr debts if you miss one out they can still collect on the money after a bankruptcy order has been made.
secondly,
insolvency is usually for business, who owe creditors money and the offical receiver deals with it.
Sorry about being lazy and inserting replies, but short on time.
Love
Fire xxx
Sex God
Quote by clitfondler
IF IM SO WRONG ID BETTER LOOK FOR ANOTHER JOB, AS UV ALL OBVIOUSLY GOT MORE EXPERENCE IN THIS FIED THAN ME!!
Please dont be offended. It may be the way you wrote things down on here and they have come across wrong.
I also have to say, there are alsorts of people, from all walks of life here. Some are actually, judges, official receivers, financial advisors and C.A.B people. Each to their own field and yes, each better qualified than the other to comment.
If you are any of the above mentioned then yes, you may be better suited to alternative employment
Id also like to ask, what makes you better qualified than anyone else here to make a comment like that?
Sex God
Quote by clitfondler
IF IM SO WRONG ID BETTER LOOK FOR ANOTHER JOB, AS UV ALL OBVIOUSLY GOT MORE EXPERENCE IN THIS FIED THAN ME!!
obviously other people have had different experiences/been given different information so maybe it's not so clear-cut? No need to shout about it or get stroppy, is there? I think the best post on this thread so far is Cherrybutton's:
Quote by Cherrybutton
I'd love to look all clever and help lol but I haven't a clue, I did google though and there's absolutley loads of conflicting information on the net with regard to bankruptcy and how it affects you both short term and long term the best thing might be to pop down to citizens advise they have people specialy trained in these matters.
Good luck and hope all goes well for you xx xx
It's like telling people to go to their GP when it's a medical problem, really. Go to the person best qualified to answer your question, confidentially and in possession of all the facts pertinent to you.
