£750 Bankruptcy limit

[jazzhands]

I am due in Court on 29th August for a forced bankruptcy hearing for £2,400. If I pay them £1,700, which brings it below the £750:00, will the bankruptcy hearing be cancelled? I was going to fight them, but I am getting scared now.

[jazzhands]

Re: £750 Bankruptcy limit

See reasoning:

http://www.legalbeagles.info/forums/...ebt-1st-Credit

[Amethyst]

Re: £750 Bankruptcy limit

Do you have £1700? Could you manage to pay off the whole lot?

[jazzhands]

Re: £750 Bankruptcy limit

Do you have £1700? Could you manage to pay off the whole lot?

No, I don;t. I'll have to borrow the 1,700 from my sister

[Amethyst]

Re: £750 Bankruptcy limit

Morning Jazz I really don't know if reducing it to under £750 at this stage will prevent the bankruptcy - logically it has to help but I would suggest giving the insolvency service a call as they will know for definite. 0300 678 0015

[FlamingParrot]

Re: £750 Bankruptcy limit

I would say that if the debt is reduced to below £750, the BR petition would not succeed. If you own property, another option would be to offer a voluntary charge to secure the debt.