I can’t afford bankruptcy.
Written by Payplan Ryan on 20 September 2011
If you don’t have any assets or a job that is easily affected then the chances are bankruptcy is an option for you. Many people choose to avoid bankruptcy as they have a home or other assets to protect, they have a job that would be at risk or they would prefer to pay as much back towards their debts as possible. However some avoid it as they feel they cannot afford the fees.
In June this year the fee for bankruptcy rose to £700.00 consisting of £525.00 for the cost of petitioning for bankruptcy and a further £175.00 for the court fee. Due to these high costs it is no surprise that many are avoiding a suitable route because it is too expensive.
For those who are avoiding bankruptcy as they cannot afford the £700.00 fee, there is help available from a number of different sources.
- Citizens Advice Bureau – visit your local office http://www.citizensadvice.org.uk/index/getadvice.htm
- Unions – such as TUC or Unison http://www.tuc.org.uk/the_tuc/about_contact.cfm, http://www.unison.org.uk/file/B3892.doc
- Utility Trust Fund, British Gas http://www.britishgasenergytrust.org.uk/help/bankruptcy-and-dro-applications
- EDF http://www.edfenergytrust.org.uk/help/bankruptcy-and-dro-applications
- Scottish Electric http://www.energypeopletrust.com/content/
- Royal British Legion http://www.britishlegion.org.uk/can-we-help/financial-advice-and-assistance
- Licensed Trade Charity http://www.licensedtradecharity.org.uk/what_we_do
- Civil Service Benevolent Fund http://www.csbf.org.uk/help_and_advice/apply_for_help
- MS Society http://www.mssociety.org.uk/support_and_services/grants/index.html
- Matthew Trust http://www.matthewtrust.org/master.htm
Filed under Competitions