Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By mt
#8056 I don't have enough cash for the close to £500 needed for the bankruptcy petition and court fee. I can max out my overdraft in order to get this cash, but would it be seen by the OR to be incurring further debt which I know I won't be able to repay, and therefore be counted against me. I don't want to do anything to complicate my case.

As bankrupts-to-be, where are we supposed to get this money?
By Mel_Odious
#8060
mt wrote:I don't have enough cash for the close to £500 needed for the bankruptcy petition and court fee. I can max out my overdraft in order to get this cash, but would it be seen by the OR to be incurring further debt which I know I won't be able to repay, and therefore be counted against me. I don't want to do anything to complicate my case.

As bankrupts-to-be, where are we supposed to get this money?


At the time I went bankrupt, three years ago, I remember seeing that the cost of petitioning could be added to your debts. I think it may have changed now and I know you are not supposed to borrow money knowing you are insolvent.
I think I did take mine out on a card. I guess not paying the cards this month is a similar thing. Will you not have £460 extra, if you don't pay 'em?

Mel
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By Joannec
#8074 I agree with OP. I decided to go bankrupt 2 months ago but life keeps getting in the way. I don't know when I'll be able to manage it. I'm going to give the court a ring to see if I can fill in the exemption form for the £150.
By Mel_Odious
#8076
Joannec wrote:I agree with OP. I decided to go bankrupt 2 months ago but life keeps getting in the way. I don't know when I'll be able to manage it. I'm going to give the court a ring to see if I can fill in the exemption form for the £150.

I know that if you are on benefits you can claim for the £150 court fee.

Mel
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By Joannec
#8077 I'm not on benefits and earn above the tax credits exemption limit. I'll just have to claim, what is it, "extreme hardship" or something


Hello ................... going bankrupt!! Of course any money going out is extreme hardship!!
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By litepurple
#8083 When I went B last year (under the new system) I withdrew the money from my credit card and current account (overdrawn) on the way to the court to pay the fee. I told the OR and she was fine with that. I think there is a conflict as it is true you are not supposed to borrow knowing your insolvent however I think you are allowed to include the cost of petitioning :?
By mt
#8092 Thanks for that litepurple. Put my mind at ease. I really didn't want to complicate the issue if they thought I was incurring further debts deliberately.