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i have a client who has large debts - to the extent that a voluntary agreement with creditors seems unlikely to make sense - i've googled the problem but am only coming up with 'free advice' from companies who want to sell their services - voluntary agreements, negotiations etc.
what i need to know is whether you can declare yourself bankrupt and what's the cheapst way of doing it? i'm a counsellor and don't have the financial expertise to answer this and it sounds lame, in my ears, to say - go see the CAB…any knowledgeable help out there?
thanks in advance
I think you need to refer your client to these sites:
http://www.adversemonkey.co.uk/credit-problems/bankruptcy.htm
http://www.thisismoney.co.uk/help-and-advice/advice-banks/article.html?in_advicepage_id=100&in_article_id=395884&in_page_id=90
Apparently your client simply needs to go to his/her local court to do this, with no solicitors involved. It seems that the only cost is court fees on the 3rd anniversary of declaration of bankruptcy, and even those court fees may be waived if you are on income support. Sounds pretty low-cost to me.
Hope your client is OK - can't be easy to have heavy financial burdens.
October 29th, 2008 at 5:24 pm
I think you need to refer your client to these sites:
http://www.adversemonkey.co.uk/credit-problems/bankruptcy.htm
http://www.thisismoney.co.uk/help-and-advice/advice-banks/article.html?in_advicepage_id=100&in_article_id=395884&in_page_id=90
Apparently your client simply needs to go to his/her local court to do this, with no solicitors involved. It seems that the only cost is court fees on the 3rd anniversary of declaration of bankruptcy, and even those court fees may be waived if you are on income support. Sounds pretty low-cost to me.
Hope your client is OK - can't be easy to have heavy financial burdens.
References :