Author Topic: £38k debt  (Read 11454 times)

Tattooedk

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£38k debt
« on: Jul 12, 2018, 01:09:10 AM »
Hi, I am looking for general advice on bankruptcy.


My current situation is that my wife & I separated about 6 weeks ago.  I am living at my brothers place for a while I work on a more permanent living arrangement.  I have approx £38,000 of debt between credit cards & loans etc which I am looking to declare bankrupt.   I do not own my home, my wife was the only one on the tenancy, I have no savings & am paying about £1,100 a month on my debts, £400 a month rent plus travel & living expenses & I also help my wife with a few of her bills because I was the main bread winner in the family.  I only earn about £1950 per month take home.  I don't really understand how the bankruptcy works when they decide how much I pay back? how is this calculated & on average in the UK; how long is it before you are discharged?


Because my living arrangements are temporary at the moment, none of my addresses have been changed yet.  Would I have to change my address to where I am living before filing for bankruptcy?


Thank you in anticipation of your help


Kev