Hi
I was all set to go bankrupt on monday, but speaking to the parents they are contemplating offering my creditors a settlement at a reduced rate.
(£35K all unsecured debt, i have no assets, and am currently on JSA but this wil hopefully improve)
Anyone any idea what % of total outstanding a creditor might accept in the circumstance of either nothing then bankruptcy, or a small % of payment? btw i have been paying them all a £1 per month for the last 5 years as have been looking after my wife, so they have made offers before I just never paid them any notice as i never had any money at all....
think we are talking 25% to 30% ish
