Hi darnk0,

Here is a quote from the Accountant in Bankruptcy website:

"It will cost you ?ú100 to apply for your bankruptcy, there are no waivers or exemptions for this fee. It is non-refundable. Payment can be made by cash, cheque, debit card, or postal order."

Is there a way that over time you could raise this sum?

my trustee said it would take somne time for them to resign from trust deed
the main problem i have just now is my outgoings are more than my wages
i dont know how long the trustee will acually take to resign they said it would be some time beforte they resign i was just to keep sending in my wage slip and prove to them that i cant afford it any longer

Hi darnk0,

I guess there is a broader issue here (away from Trust Deeds and funding bankruptcy) regarding how you will manage your other necessary expenditure if your income is insufficient and (probably) without access to credit.

Do you perceive any likelihood of being able to increase your income at all? I recognnise that you are worried about how to deal with the debts that are in the Trust Deed but I think the broader issue may be more important for you.

no only way my hours will go up if somebody takes a holiday and that is not until august until then i am in limbo as ti how i can raise the money

It is a worry that you have a shortfall on your budget. Is there a particular reason for this? What has changed?
It may be that if your income has dropped you may be eligible for tax credits or other help.

In terms of bankruptcy - I am not sure where your trustee is coming from here. They should only refuse to discharge you from your debts and resign as trustee if you are refusing to cooperate with them, not simply because of a change in circumstances. So either they petition for you to be made bankrupt (no cost to you), or the trust deed continues.
Maybe one of the other experts has an opinion on this, but that seems to be what the legislation says.

i have been giving them my wage slips my hours has been reduced at work the only way i can get more hours is if one of the other guards takes a holiday
the change in hours is a lot we are down to 39 hours a week rather than the 52 hrs i have lost 52 hrs a month

i phoned my trustee today they said they are still going to resign from trust deed and i need to petition my own bankruptcy once they have resigned from trust deed

Hi darnkO

Kevin is correct. I would ask you Trustee to point you to the part of the legislation or guidance which allows him/her to resign as a result of a change in circumstances and follow it up with a letter.

Mark