Examples of Bankruptcy

Example 1:
Mr J from London had debts of £55,000 he had a monthly income of £1,200 his cost of living was £1,050 so the official receiver has asked for a payment of £150 he has been asked to pay this for 3 years even though his bankruptcy was discharged after 12 months.

Should he suddenly have unexpected bills for example the car engine blows up then he can apply for a reduction in this amount until the car bill is repaid.

Example 2:
Mrs X from Northampton was made redundant and had no income and mounting debts and lived in a council house as she is on benefits the best route forward would be bankruptcy.  She went Bankrupt in December with Hamilton Associates help and has had reduced bankruptcy fees as she is on benefits and has to pay the official receiver no payments on a monthly basis.  Should Mrs X get back into work then she would be required to let the official receiver know and her income and expenditure would be re-assessed while is  bankruptcy.  Mrs X has already had a letter from the official receiver with an early discharge.   

For free help with your bankruptcy please call us on 0800 010 6506 or email us at Bankruptcyhelp@hamiltonassociates.org.uk