Can't afford Bankruptcy fee

A question about : Can't afford Bankruptcy fee

Hi guys,

I've tried researching but can't seem to find much in the way of what my options are if I cannot afford to pay for the bankruptcy fees.

My current situation is that I have somehow managed to collect approx Ј20k of debt over the years, all on credit cards and overdraft. I have no real assets of any worth, just a laptop, a camera and household items. I am a graphic designer/photographer by trade and as such use my computer and camera as a tool of my trade.

I have recently become unemployed (from a minimum wage job to hold creditors at bay for a few months) but now am trying to find work and income any way I can. I'm living at home with parents who are supporting me with food/housing. I'm getting by right now by selling whatever I can via eBay but that wont last very long at all.

My creditors (5 Credit card companys and 1 bank overdraft) have been sending the usual letters since I became unemployed and stopped payments 3months ago. I have received default letters recently so I'm worried I will be issued a CCJ any time now. I havent even attempted to put together a statement of what I could afford to pay them back each month, as I have no work or prospects of any yet and the debt is too great in my opinion to make it worthwhile attempting to pay it back. If I had any money at all, it would make much more sense to go bankrupt than to pay off Ј1 a month for an indefinite amount of time.

The info I'm struggling to find is;

1. Is there any way of my creditors knowing my lack of assests? (If they did they would know it would make no economic sense for them to file for a CCJ - perhaps this is why I should've given them an idea of my SOA! Bit late to be realising this..)

2. If (and more probably, when) they file for CCJ's, I understand this will allow them to use bailiffs to seize property. I have nothing of any notable worth other than the tools of my trade being laptop and camera. What is the next step? If they seize the very thing I have any chance of making an income with then I'm really done for.

3. At what point do they stop chasing debt if you have nothing to offer? I appreciate a credit report only records the past 6 years, at what point would these creditors stop chasing the debt to thereby enable my 'new slate' to begin? I realise trying to figure out a path that doesn't involve bankruptcy is not really feasible but I'm just enquiring as I don't have many other options open to me right now.

I looked into charities to possibly pay bankruptcy fees but noticed this is on the whole for members of unions which I am not.

I've already filled out the fee remission form for court fees if I ever get that far.

Any advice greatly appreciated!

Best answers:

• Hi and welcome to the forum.
  Quote:
• Hi
  Useful information on grants for bankruptcy fees from the Debt Camel site
  https://debtcamel.co.uk/help-with-bankruptcy-fees/
  Best wishes
  DC
• If you contact one of the free debt advice companies like step change, they will work with you and give you a reference number. You give your number to your creditors and just tell them you are working with eg Stepchange & this will buy you a few months while you look into your BR fees. They will probably advise giving your creditors a token payment of Ј1 a month in the interim.
  I did this and my creditors gave me between 3 & 6 months to get sorted. It was a godsend to be honest because it took me several months to save my fees.
  Don't tell your creditors you are going for BR though because they will probably hound you to try and get more money before it's too late.
• Just 1 note
  If your unemployed you wont need tools of the trade....