Originally posted by asromacalcioToo complex a subject.
Does anybody know the deal with declaring yourself bankrupt in the UK?
How long does it take, how easy is it, what are the immediate and long-term drawbacks and if you work after do you keep all your net pay? Do you have to give up your passport / stay in the UK for a period after?
More advice here
http://www.insolvency.gov.uk/
Originally posted by asromacalcioGo to the Citizens Advice Bureau. They have a great deal of experience in dealing with such things.
Does anybody know the deal with declaring yourself bankrupt in the UK?
How long does it take, how easy is it, what are the immediate and long-term drawbacks and if you work after do you keep all your net pay? Do you have to give up your passport / stay in the UK for a period after?
Originally posted by asromacalcioAre we talking financially or morally bankrupt?
Does anybody know the deal with declaring yourself bankrupt in the UK?
How long does it take, how easy is it, what are the immediate and long-term drawbacks and if you work after do you keep all your net pay? Do you have to give up your passport / stay in the UK for a period after?
Don’t wait to long to get some advice, and there is lots of it.
For some people, personal bankruptcy is the escape from a life that has become unbearable, and for others a way of life.
A judge will decide which category you fall into.
It will probably cost you about £500 to go bankrupt (which if you are declared bankrupt and you managed to get a loan to pay this fee, could be included in your bankruptcy).
As for the passport, well you wont have (or shouldn’t if the receiver does his or her job properly) enough money to be able to go anywhere anyway.
Look upon bankruptcy as a new beginning with a few challenges, but as an opportunity to get it right next time.
The most important thing is to get advice on your personal circumstances.
If your are a decent individual that has been screwed over by circumstance, then a new and wonderful life is around the corner.
Good luck.
http://www.cccs.co.uk/
Edit: And it is about 3 years if you behave.
😉
Edit 2: Incidentally, you may be asked how you can afford subscriptions to an online chess site.
I would imagine its not considered an essential expenditure.
😉
Edit 3: The above is a light-hearted attempt at humour, but on a serious note, you will get the chance to be a little bit more careful with your money.
😉