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Bankruptcy.... An ideal answer to a never ending situ,,,,,?

Question

Hi all, got so many debts to pay, cannot afford so I thought of filing for bankruptcy.....
I see no way out of the situ that I am in?

Any ideas anyone? Good or bad or what?
Thanks !

katie

Sorry, but it will not help here. In the UK I think you can declare bankruptcy and pay off something like 40p in the pound. It does not work like that here. Here the debts are not written off. You are stuck with them. if you file for bankruptcy they might agree you only have to pay interest on the debts, but the debts are still there, waiting until you can pay.
If they are elec or gas you can try talking to them, explaining your poverty and hope they will reduce the bill. same for water, and taxes.

Jul 25, 2016 10:00
anon

Sorry to hear about your situation. As Katie above notes, personal bankruptcy isn't an option in Belgium. My advice to you is to go and see your local CPAS. They deal with this sort of situation all the time, have specialist debt advisory service and will help, support and advise you on dealing with your creditors.

Jul 25, 2016 11:33
J

A private individual cannot be declared bankrupt in Belgium.

Jul 27, 2016 09:30
CC_R

Hi unlike the uk bankruptcy has a bigger meaning here and will affect credit ratings for years to come. The debt doesn't go and you may end up no better off.
Try ringing CHS and ask if they know of a credit support agency who can help you contact your creditors. Firstly get all the paperwork showing what you owe to whom.
You will need to them all and offer to pay something but most people would rather get something than nothing.
Sell what you can to bridge the debt. Get a second job what ever you can do to raise more fiancé. Car boot sales are a good way to get rid of items you don't want and find some money to pay people.
Also cut up credit cards and start buying cheap food and use only cash.
Work out what you earn and what you need to pay to live and the rest split between the creditors.

Jul 27, 2016 13:48