Hi, I owe over £50,000 in credit cards and overdrafts but I work and I’m very worried about how I’m going to pay my debts. I’m looking at bankruptcy as the only option what do I do? I work but I’m not sure I’m able to pay.
In a UK bankruptcy, lots of things count as assets like your house, car, savings, and expensive items. But you won't lose everything. Essentials like your clothes, basic household furniture, and everyday appliances usually aren't included in the bankruptcy estate. They let you keep the essentials to live day-to-day.
Hi, I owe over £50,000 in credit cards and overdrafts but I work and I’m very worried about how I’m going to pay my debts. I’m looking at bankruptcy as the only option what do I do? I work but I’m not sure I’m able to pay.
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Hi, I owe over £50,000 in credit cards and overdrafts but I work and I’m very worried about how I’m going to pay my debts. I’m looking at bankruptcy as the only option what do I do? I work but I’m not sure I’m able to pay.
What is considered an asset?
In a UK bankruptcy, lots of things count as assets like your house, car, savings, and expensive items. But you won't lose everything. Essentials like your clothes, basic household furniture, and everyday appliances usually aren't included in the bankruptcy estate. They let you keep the essentials to live day-to-day.
Hi, I owe over £50,000 in credit cards and overdrafts but I work and I’m very worried about how I’m going to pay my debts. I’m looking at bankruptcy as the only option what do I do? I work but I’m not sure I’m able to pay.