February 7th, 2008 by Questions
so what do you have to pay when you go bankrupt? do you have to pay back all the dedts you had?
One Response to “should i”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
February 08, 2008 at 11:19 am, Barton Goth GCO Bankruptcy Trustees said:
During a bankruptcy you simply pay the trustee’s fee. This can fluctuate depending on your level of income and the number of people it supports. For more informaiton on what that will work out to in your situation you are best to sit down with a local trustee .
After the bankruptcy is finished your debts are cleared and there is no need for you to pay back the included debts. Now there is a category of debts that cannot be cleared (i.e. student loans in some circumstances, debts related to fraud, child maintenance etc.) but the trustee will be able to look at your debts and advise you what to expect.