Bankruptcy

[nicholarichens]

Hi all, Hope someone out there can help...
Last year i was made redundant from my job & also split from my partner, we co-owned a house which has been repossesed by the bank(£150,000) & also have several debts (catalogue/loan/overdraft with a joint account + few others (£12,000)
I am still unemployed (+plus now having to live back at my parents house)and seriously considering bankruptcy, i have had some debt collectors send letters to me & have ignored so far..... the problem i need to avoid is any of them coming to the house as i think my parents would kick me out & i have nowhere else to go....so my questions are.....does bankruptcy take effect straightaway? would the offical reciever question why i have not made contact with them? also because i am having trouble raising the money to declare myself bankrupt, i have an overdraft at my bank which i am seriously considering using to do it and i need to know if that would have any repercussions on me filing for bankruptcy as it would be classed as another debt....would appeciate as much help with this as possible as my heads in bits with all the stress & worry!

[Count-A-Strong]

That's a lot of questions nichola. This site will probably answer most:
http://www.bankruptcyinformation.com/faq.htm

[Count-A-Strong]

Apologies, that seems to be a US based site. This might be better:
http://www.debt-uk-on...co.uk/bankruptcy.html

[Count-A-Strong]

And this one is from the Insolvency Agency who are an independant government agency. I would strongly recommend reading this first:
http://www.insolvency...guidetobankruptcy.pdf

[nicholarichens]

Thankyou Count -A- Strong, i know it's alot of questions, my head really is in bits with it all!
Do you have any info regarding if i use my overdraft?? just had a quick look on info you just sent but doesnt seem to have anything regarding that type of situation

[Count-A-Strong]

Sorry, I have no idea.

[themas]

1. Go to www.insolvency.gov.uk. Website of the Insolvency Service. There are booklets you can download.

2. You may be eligible for a Debt Relief Order - only £90 & wipes out the debts in the same way as bankruptcy. But there are limitations on eligibility. Booklet also on same site.

3. Contact your local CAB or phone CCCS - they can advise you on both.

[Rogger73]

http://www.consumeractiongroup.co.uk brilliant site very helpful.