when we go bankrupt ?

maz · Joined: 07 Jul 2008 Posts: 2

Hi me and my partner a about to go bankrupt but, i need to now what we pay the month we go bankrupt. As it stands we need to pay two amounts of £495 ! we need to know do we still pay priority payments or what and how we manage to raise the money if we do. help? Sad

Boo · Joined: 18 Jun 2007 Posts: 8

I have been receiving advice on Bankruptcy for some time now to see if this is something i should do myself.

I think if i go Bankrupt i shall continue to make my monthly utility and rental commitments as i do not want to loose my home! I shall try and make nominal payments to my creditors if i can but raising the money for my petition is more important i feel.

Maybe someone can confirm whether this would be the right thing to do?

Merry · Joined: 05 Sep 2008 Posts: 5

Bankruptcy today has become a logical, legal and beneficial tool for many people to use to remedy a difficult and problematic bad debt situation.Before you take any action to apply for your own bankruptcy, you should get your own legal or financial advice about bankruptcy and the other options available to you. The Insolvency Service and the courts cannot advise you on specific insolvency problems; for example, whether you should go bankrupt or your company should go into liquidation, or whether you should look at alternatives. You should get independent advice. You may consult a solicitor, a qualified accountant, an authorised insolvency practitioner or a reputable financial advisor.

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