skinz Posted June 2, 2010 Share Posted June 2, 2010 Who told you that? If you think about it logically it makes sense. You're in debt to the point of bankruptcy but can afford to take out further debt to pay the bankruptcy fees? In the case of the op's situation that £1000 could go towards paying off their creditors. Otherwise you're not ridding the debt you're just moving it around or passing it on. Link to comment Share on other sites More sharing options...
DaFoot Posted June 2, 2010 Share Posted June 2, 2010 I had to declare bankruptcy back in 2003 (back then it was £300) and this was because I had around £15k debt £15k enough to warrant bankruptcy? I contemplate it on a regular basis, but then having read that while in employment my money would end up going the same way anyway it doesn't seem so attractive. I'm also a stubborn sod and decided a while back to work at reducing it, at least while I'm employed. If that changed then perhaps my resistance to bankruptcy would too. Link to comment Share on other sites More sharing options...
willman Posted June 2, 2010 Share Posted June 2, 2010 The fee should be enough to stop people using it as a solution to their own made debt problems. I've been there and i'm still in neck deep -but never would i not pay. I'd rather pay a £1 a week than declare bankruptcy. Link to comment Share on other sites More sharing options...
ToniLou21 Posted June 2, 2010 Share Posted June 2, 2010 i suppose if you made it free everyone in debt would go bankcrupt? hard times Link to comment Share on other sites More sharing options...
Grandad.Malky Posted June 2, 2010 Share Posted June 2, 2010 im now in a housing association house, brand new, all repaires done free, no one can take it off me through bancruptcy, rent paid in full, ten minute walk to beach, all cus i dont work Nothing like a bit of gloating is there. Link to comment Share on other sites More sharing options...
Paul2412 Posted June 2, 2010 Share Posted June 2, 2010 some times its the only option, when someone says somebody has to pick the pieces actually they dont, most loan companies cover there loans with there own insurance, like an underwriter so if you go bankrupt and the loan is writen off the loan company just claim it back, also about bancruptcy if your out of work you dont have to pay the £500 bancruptcy fee if your unemployed, ive just given my own home up to my mortgage company, but im not bothered there was no equity in it, it only holds you back when u get to old age, im now in a housing association house, brand new, all repaires done free, no one can take it off me through bancruptcy, rent paid in full, ten minute walk to beach, all cus i dont work I hope the family from hell move in next door. Link to comment Share on other sites More sharing options...
gabby Posted June 2, 2010 Share Posted June 2, 2010 Nothing like a bit of gloating is there. Gloating, or just a very accurate and startling illustration on how the system works in favour of the unemployed and against the taxpayer? And no, I don't like it anymore than you do. Link to comment Share on other sites More sharing options...
Grandad.Malky Posted June 2, 2010 Share Posted June 2, 2010 Gloating, or just a very accurate and startling illustration on how the system works in favour of the unemployed and against the taxpayer? And no, I don't like it anymore than you do. "I fell on hard times and went through some tough times but luckily it all worked out" would have said the same but without the gloating but I can see your point Link to comment Share on other sites More sharing options...
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