www.iva.co.uk

HELLO EVERYNE
MY SISTER IS LOOKING AT GOING BANKRUPT SHE HAS GOT ALL THE FORMS AND IS STARTING TO FILL THEM OUT.
JUST A BIT ABOUT HER FINANCES.
SHE IS IN DEBT £20,000 THIS IS A LOAN AND 2 CREDIT CARDS. SHE DID HAVE 2 JOBS AND HAS LOST ONE OF THEM . SHE EARNS ABOUT £450 A MONTH AND SHE GETS WORKING TAX CREDIT ABOUT £550.

SHE PAYS £350 MONTH FOR LOAN
£200 MONTH FOR CREDIT CARDS
HER RENT IS £220 MONTH
COUNCIL TAX £150 MONTH
THEN ALL HER UTILITY BILL .
THERE IS JUST NOT ENOUGH MONEY FOR HER TO COPE SHE LIVES ON CREDIT CARD AS THERE IS NO MONEY LEFT BY THE TIME SHE HAS PAID HER DEBTS.
SHE REALLY HAS THOUGHT ABOUT THIS OVER A MONTHS AND SHE IS GOING TO GO BANKRUPT DO YOU THINK BY LOOKING AT THE FIGURES THAT SHE IS RIGHT TO DO SO.
THANK YOU

Hi and welcome,

If she is really struggling which it seems she is then Bankruptcy seems to be her option. If she has no assets then it would be the most appropriate action based on her circumstances.

I believe the fee is around the £495.00 mark and she may get help towards the cost if she is on a low income.

Please keep us posted with whatever she decides to do

THANK YOU FOR YOUR COMMETS.