How To Go Bankrupt And Become Debt Free
For many people with serious debt issues, taking steps to become bankrupt can be a liberating experience. No more telephone calls night and day; no more worries about visits from bailiffs coming to the door.
It takes a bit of planning and some available cash, which may not be easy to come by, and you are on your way.
- Collect together copies documents relating to all of your unsecured debts, such as credit card, store card and loan statements;
- have to hand your bank details and account numbers
- if you own a house retrieve your last mortgage statement
- if you rent get out your rent book or tenancy agreement
- if you own a small business as a sole trader or a partner collect together all your paperwork
You should now have in piles before you everything that you will need that you don't know in your head to enable you to complete the petition and statement of affairs.
Here is what you do next.
You can get a copy of the petition or statement of affairs from http://www.insolvency.gov.uk/forms/forms.htm or alternatively you can ask at your local court for a bankruptcy pack. I also have forms available so feel free to contact me.
You need to find out of your local court has the jurisdiction to hear bankruptcy matters. Call your court and ask to speak to the bankruptcy clerk. Give them your postcode and they will tell you which court you have to attend at and issue your petition from. You may have to book an appointment. If this frightens you, I can help this process if you wish to call me.
You now need to get you fee together. You will need £510 in cash to pay the court fee and the Official Receiver's Deposit. If you qualify for a fee remission you will be asked to pay £360 in cash.
Fill in your forms using the information you have gathered together. It may take a few hours to do and so break the task down into sections. Do some and come back later.
When it is completed you will need three copies of each document.
Take your papers and fee to court on the appointed day.
It should go without a hitch. Good luck
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