2007-05-06 02:11:09 · 22 answers · asked by Bob M 1 in Business & Finance ➔ Personal Finance
I see many peope walking away from their debts, and I think it is unfair I can't too.
2007-05-06 07:37:38 · update #1
This question cannot be a legit question? From the sounds of it your either too attached to your savings or cheap to the 10th power. Pay the damn 1,000 cause the longer you wait the more fees they will place on it.....take the rest of your 29,000 and go about your business. Unless, now that I am thinking about it the 1000 debt is not yours, maybe it was a debt you co signed for. I need more details
2007-05-06 04:17:49 · answer #1 · answered by prodigychild_21 4 · 0⤊ 0⤋
what would be the point if you have £30k in savings and only £1k in debts. pay off your debt and then at least if you wanted to get a loan for say a new car or a mortgage, then your credit rating would be sound. Don't forget once you've declared bankruptcy its with you for a long time, and you don't know what the future holds for you.
2007-05-07 07:43:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, of course you can. just give the saving away to charity (see my profile for e-mail/IM details), then you have more debt than money and can declare bankruptcy asap. Bet you own your house too.
2007-05-06 09:21:45 · answer #3 · answered by Wildman 4 · 0⤊ 0⤋
No. for bankruptcy your assets cannot exceed your liabilities.In your case it is a matter of paying the £1000 owed and leaving you £29000 in the bank.Why are you trying to avoid paying what you owe? Is there a good reason or are you just mean?
2007-05-06 09:21:59 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Why would anyone want to declare bankruptcy if they had money.
Sounds like you don't want to pay for something
If you go bankrupt you will find it very difficult to get a mortgage or anything money related even a bank card!!!
2007-05-06 09:42:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If you have that much in savings, take the 1,000 and pay the debt. I cant imagine why ANYONE would have debt with that much in savings.
2007-05-06 09:22:42 · answer #6 · answered by ReEb0k2 1 · 0⤊ 0⤋
Ignore all the other answers. Of course you can declare yourself bankrupt, but it's a complicated, time consuming and expensive business. I would be happy to arrange matters for you. My fee will be £30,000.
2007-05-06 18:40:54 · answer #7 · answered by Anonymous · 1⤊ 0⤋
To file for bankruptcy you have to have more debt than savings/assets.
2007-05-06 09:17:55 · answer #8 · answered by Kimo 1 · 0⤊ 0⤋
You can try, but will end up being laughed out of court, and parted from some of your savings in legal costs into the bargain.
2007-05-06 09:15:38 · answer #9 · answered by Anonymous · 1⤊ 0⤋
people walk away because they have no savings!!
Just pay the debt!!
First of all, why would you have debt if you have so much saved up?
2007-05-06 14:52:55 · answer #10 · answered by Rebz 5 · 0⤊ 0⤋