terryd 8,043 Posted February 10, 2016 Report Share Posted February 10, 2016 (edited) Most people i know that went bankrupt did it so they did not have to pay people they owed money to, it is far to easy to declare yourself bankrupt, and i have been on the other end of it where you have done work and not got paid , you wait for months for money you are owed and then get a letter from the receiver that you are at the bottom of the list because bigger businesses come first. It Stinks It that instance yes it does. Personally I wasn't a business and it was banks and the tax man so to be honest I won't lose too much sleep over that. It obviously does have a knock on affect though. If I had my time again it wouldn't happen and I would have a house in country and a couple of acres but there you go. When your 19-20 with 50 quid in your wallet and its a choice between tax man or Guinness and pork scratchings mmmm Edited February 10, 2016 by terryd 3 Quote Link to post Share on other sites
peterhunter86 8,627 Posted February 10, 2016 Report Share Posted February 10, 2016 IT costs about £750 to go bankrupt ,,,there's loads of info on line about it... Lad that I work with did it,,,he only owed £5000 ,,,when he did all the paperwork and took it to the court ,,,the girl asked him if he had any other credit cards,,,he did,,,it had a 10 grand limit,,,but cos he was struggling financially ,,,he hadn't spent on it...the girl said to him,,,you should have maxed that as well befor you did this..... 750 it costs ffs i couldnt afford to go bankrupt 3 Quote Link to post Share on other sites
BIGLURKS 874 Posted February 10, 2016 Author Report Share Posted February 10, 2016 The kicker is Iam still unsure wether too go for bankruptcy or not the amount I owe is astranomicle in my eyes it's 12k plus but most of it is the money that they have added on cos I couldn't pay it when I hit a ruff couple of years with an injurie and being able too save that will take me 10 years even at the rate Iam going at 6 Days a week 12 hour days Iam no closer too getting out of it then when I started see the only thing is I don't own a house or will I ever have the money for owning my own house in this area Quote Link to post Share on other sites
terryd 8,043 Posted February 10, 2016 Report Share Posted February 10, 2016 If you don't own a house then you don't have to worry about losing the roof over your head thats the important thing. Good luck what ever you decide Quote Link to post Share on other sites
Ossie n Arch 1,682 Posted February 10, 2016 Report Share Posted February 10, 2016 http://m.stepchange.org/how-we-can-help-you/debt-solutions/debt-management-plan Give these a call. Quote Link to post Share on other sites
bob84 189 Posted February 10, 2016 Report Share Posted February 10, 2016 Is it not only business that can apply for bankruptcy. Quote Link to post Share on other sites
terryd 8,043 Posted February 10, 2016 Report Share Posted February 10, 2016 no Bob Who can go bankrupt and what will happen? A common misconception is that companies go bankrupt. That is not true. In the UK bankruptcy only applies to individuals. Any individual can go bankrupt but you will need to meet the grounds for being able to petition. Luckily there is only one, which is that you are unable to repay your debts. You must owe more than £750. Quote Link to post Share on other sites
Kay 3,709 Posted February 10, 2016 Report Share Posted February 10, 2016 I could have gone bankrupt but decided to deal with the debts head on... best thing I ever did .. my debts got out of control when my husband left 6 yrs ago... I did what lots do ... ignored the letters & calls I had a good row with myself & made that first phone call to the creditors I owed. It wasn't as daunting as I had imagined.... if you act as soon as you can people really are helpful I now have payment plans with all my creditors & pay them every month I dont live an extravagant life anyway .. no motor to run or have holidays ... so all in all I know where I stand & providing I am in work I can just carry on paying what I need There's seldom any money left over for luxury's ... I also have meters for gas & leccy .... I am very frugal & buy what food I need almost daily so there's no waste ... make use of my freezer & I do price comparisons I live day to day & dont make plans for tomorrow .. I dont think I do to badly on my £ 360 a month wages 11 Quote Link to post Share on other sites
lurcherman 887 12,679 Posted February 10, 2016 Report Share Posted February 10, 2016 Jesus christ 360 a month 1 Quote Link to post Share on other sites
unlacedgecko 1,466 Posted February 10, 2016 Report Share Posted February 10, 2016 Jesus christ 360 a month My thoughts exactly! Quote Link to post Share on other sites
bob84 189 Posted February 10, 2016 Report Share Posted February 10, 2016 (edited) Jesus christ 360 a monthMy thoughts exactly!is That even even minimum wage Edited February 10, 2016 by bob84 Quote Link to post Share on other sites
treecreeper 1,136 Posted February 10, 2016 Report Share Posted February 10, 2016 Depends how many hours you do bob. Can I send the Mrs down for abit kay to get some tips? 1 Quote Link to post Share on other sites
myersbg 1,355 Posted February 10, 2016 Report Share Posted February 10, 2016 I give my misses 300 a week and that is on top of what she earns. there is only two of us in the house now, i would't mind so much but i still can't get laid. summat else that shit!!! 1 Quote Link to post Share on other sites
Kay 3,709 Posted February 10, 2016 Report Share Posted February 10, 2016 Sorry should have said thats for 12.5 hours a week , my hourly wage went up in Dec to 7.08 .. I also get an attendance allowance of £ 5.31 per week I have been at that job 10 years ... I could have got more hours else where but 99% of the jobs are zero hours .. so stuff that for a game of soldiers Quote Link to post Share on other sites
terryd 8,043 Posted February 10, 2016 Report Share Posted February 10, 2016 yea this zero hour lark is appalling me daughter has that and she don't know what shes doing one week from next Quote Link to post Share on other sites
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