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

Can’t answer, but I don’t envy you. Good luck with whatever happens.

yes, good luck. Maybe give the Citizens Advice Bureau a call, get advice on the best way to play it? My guess would be that any money would be better than nothing from your creditors point of view.