Author Topic: 2nd Bankruptcy advice  (Read 1980 times)


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2nd Bankruptcy advice
« on: Aug 18, 2009, 07:23:11 PM »

I first went bankrupt in 2000 at the age of 23 the debts were a combination of loans and credit cards and ammounted to around £12,000.  I was young and stupid and found myself -300 pounds every month so it was the best option for me at the time.  When i was able to obtain credit again I was careful and only borrowed what I could afford to repay but unfourtunatly I now find myself £19,000 in debt.  The credit is all in my name and again they are mainly loans and credit cards, the reason I can no longer afford the repayments is due to the birth of my child and my girlfriend becoming ill which as left her classified as disabled meaning she is unable to return to work for the foresable future.  I can not afford even the minimum repayments anymore on any of the accounts and interest and late payment fees are continuing to add up.  I have tried to negotiate with my creditors but they refuse my payment offers as they are to low.  I don't own a house, I have no savings and have no second income.  If I were to declare bankruptcy again what would be the consequences?  Would it be more complicated and would I find myself in deep water?  Any help would be appreciated.  Thanks!


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Re: 2nd Bankruptcy advice
« Reply #1 on: Aug 21, 2009, 02:50:55 PM »
There is a certain time frame for making a second bankruptcy petition, I think 5 years have to pass but you can check that. Try contacting Citizens Advice.

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Re: 2nd Bankruptcy advice
« Reply #2 on: Oct 05, 2009, 12:14:15 PM »
1) You went bankrupt in 2000.
2) It is now 2009 so you could go bankrupt again with NO penalties.
3) You have no assets so as you are aware bankruptcy is obviously the best option.
4) Enjoy your new life :)
Raphael Gilbert
Head of Insolvency Divison www.ban