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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.
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Re: £750 Bankruptcy limit
Do you have £1700? Could you manage to pay off the whole lot?#staysafestayhome
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Re: £750 Bankruptcy limit
Originally posted by Amethyst View Post
No, I don;t. I'll have to borrow the 1,700 from my sisterComment
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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#staysafestayhome
Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.
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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.Comment
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