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How do I make myself bankrupt?
Published in Debt Advice Features on Friday, March 30 2007 
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It is relatively easy to make yourself bankrupt, and I will outline what you need to do in the following article.
Can I get a bank account if I am bankrupt?
Published in Debt Advice Features on Friday, March 30 2007 0 Comments
There are many miss conceptions about bankruptcy and this is one of them. You can hold a bank account when you are bankrupt and there are a few banks who are very good about this.
What does being Insolvent mean?
Published in Debt Advice Features on Friday, March 30 2007 0 Comments
The term insolvent literally means that you do not have the financial resources to pay debts when they come in.
What implications will entering an Individual Voluntary Arrangement have on me?
Published in Debt Advice Features on Friday, March 30 2007 0 Comments
There are far more advantages than disadvantages in entering an Individual Voluntary Arrangement to solve your debt problems. You get a manageable monthly payment over a reasonable length of time with a good deal of protection over your finances and assets. However there are a few disadvantages.
What implications will entering a debt management plan have on me?
Published in Debt Advice Features on Friday, March 30 2007 0 Comments
Debt management is probably the debt solution with the least consequences. Debt management is great for people who cannot afford their monthly payments and need them lowering. Most of the time your interest and charges will be stopped, and it does offer a degree of flexibility. For example if your circumstances change then you may be able to amend your payment to suit.
What implications will going bankrupt have on me?
Published in Debt Advice Features on Thursday, March 29 2007 0 Comments
Bankruptcy is an excellent option if you are in a position where you will never realistically repay your debts in a reasonable length of time. However you should always seek advice from experienced credit counsellors. Click here if you feel you need this advice.
Is it advisable to get a new bank account as I have debts with my current bank?
Published in Debt Advice Features on Thursday, March 29 2007 0 Comments
Definitely. If you have any debts with your current main bank account I would always advise moving away.
Can I really get 75% written off my debts?
Published in Debt Advice Features on Thursday, March 29 2007 0 Comments
This is a bit of a miss-conception. Under the terms of an Individual Voluntary Arrangement you can get up to 75% written off by the creditors, but you would always need an Insolvency Practitioner to put your Individual Voluntary Arrangement through, and of course they have fees.
Becoming bankrupt and paying income tax.
Published in Debt Advice Features on Thursday, March 29 2007 0 Comments
In bankruptcy another thing that you will not pay once you have had a bankruptcy order made against you is income tax if you receive you salary under PAYE. You will not pay income tax for remainder of the financial year.
What are day to day living expenses?
Published in Debt Advice Features on Thursday, March 29 2007 0 Comments
Day to day living expenses are costs that you incur on a day to day, week to week or month to month basis. These costs are seen as priority expenses that everyone in this day and age needs to spend in order to live they are normally seen as basic living costs.
