Money For Nothing and Your Debts for Free

05/06/2011 by JohnB.

The cost of going bankrupt rose by £75 to £525 at the beginning of June 2011 and with the court fee added on, the total upfront cost of going bankrupt is now about £700. The Insolvency Service has said this increase was to cover the cost of administration.

I actually think that this is a good thing because I know of people who go bankrupt at the drop of a hat. Some I know have done this three times now.

When I was younger my mother made sure that I knew how important it was to pay my debts and how that reflected upon me as a person to trust. I have struggled to pay off debts at times in the past but at present I don’t owe anybody anything and would never dream of having debts “written off”, I always take pride in paying my way.

I am convinced that some people borrow money clearly intent on not paying it back and using “bankruptcy” to achieve this.

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