Hi, need help with Bankruptcy/DRO Advice?

[Debt Camel]

Re: Hi, need help with Bankruptcy/DRO Advice?

Get that CAB appointment - the advisor will also be able to look into the Housing Benefit issue for you as well as your debt options.

If you are just over the 20k limit, then your mother could try to help you by paying off some of the debt - again the DRO advisor can talk you through this as you have to divide any payments pro rata between the debts, not just pay a lump off one. Or it may be better to just go bankrupt and for your mum to be able to help with the bankruptcy fees. In your situation the bankruptcy fees are the main disadvantage of bankruptcy compared to a DRO - but again the DRO advisor will be able to help you compare the options.

Best of luck - if this all seems very depressing, remember it's just money ... the good news is that you and your husband are back together again

[NWHC]

Re: Hi, need help with Bankruptcy/DRO Advice?

I was looking at this. Are any of the debts in joint names because if they are even if you go for a DRO your hubby would still be liable for the full value of the debt with his name attached.

[Gemzy]

Re: Hi, need help with Bankruptcy/DRO Advice?

[MENTION=48934]Debt Camel[/MENTION] thanks again, i Will make an appointment wit CAB
I won't be just over the 20,000 limit until Housing benefit sort out the overpayment (They seem to like taking their time with me) but will speak to CAB about this too.
Yes my mum mentioned helping with the bankruptcy fees but she was worried about this as much as me, as said before this scare the hell out of me. I think my main worry with this is landlord being informed and losing my home that we have made for our children. I am trying to get through this for them
And thankyou it does seem all depressing but hopefully there is light at the end of the tunnel

[Gemzy]

Re: Hi, need help with Bankruptcy/DRO Advice?

Hi [MENTION=78313]NWHC[/MENTION] no all my debts are in my own name, the only thing that is in both our names in our current council tax bill,even the utility bills are just in my name

[NWHC]

Re: Hi, need help with Bankruptcy/DRO Advice?

Hi @NWHC no all my debts are in my own name, the only thing that is in both our names in our current council tax bill,even the utility bills are just in my name

Well that's good news

[Gemzy]

Re: Hi, need help with Bankruptcy/DRO Advice?

Made an appointment with CAB to get more detailed advice, but have been doing lots of online research and i think the option for me is bankruptcy Scared is an understatement but feel it's the best option for me and obviously my family. Thanks for all the advice to give me the kick up the butt i needed
Gem

[Sessie]

Re: Hi, need help with Bankruptcy/DRO Advice?

Hi Gemzy

How did you get on? Did you go through with the Bankruptcy?
If not, and it's seeming like your only option, can you PM me, I've experience here
It's not too scary, but everything Camel says should be taken by the letter, spot on superb advice and you need to consider everything and everthing she's mentioned
From what I know LL's and EA are informed but they usually do not care, all they care about is their rent being paid
On the emotional side, if you go through it and you understand the outcome, for a lot of people it's a huge relief
Let us know x

[Gemzy]

Re: Hi, need help with Bankruptcy/DRO Advice?

[MENTION=76131]Sessie[/MENTION] thankyou
No i have not gone through it yet as have been saving up then fees. i am in touch with a CAB advisor who has been brilliant help. I hoping to have the fees together in a week or so but have been informed Bankruptcy changes slighlty as of 6th April ie you no longer attend court it is all done online ect. Still very nervous about it all so will message you thankyou

[Sessie]

Re: Hi, need help with Bankruptcy/DRO Advice?

Dont be nervous - it's easy to say but it's not as bad as people think
I will go through your thread in detail now - Im ok with the BKtcy stuff (at least it's one thing I know :tinysmile_grin_t: )
Although, I didnt know it had changed now to online - I'll have a look now and message you
(I've sent you 1 message already ok)
Dont panic - the process is not as bad as you may think
Will be back in touch very soon

[Debt Camel]

Re: Hi, need help with Bankruptcy/DRO Advice?

I think the online bankruptcy application is a big improvement. not only do you not have to worry about going to court, but they have made it a lot easier than the old forms.

It's long however and you can't have a look at the whole thing before you start as you have to complete each section before going to the next, which is a bit annoying so I've written this rather long guide which should give you a good idea: http://debtcamel.co.uk/complete-bankruptcy-application/