| T O P I C R E V I E W |
| desmond.p |
Posted - 04 January 2010 : 22:19:19
got an answer by phone from a lady last night saying i could not go bankrupt as total was too small she suggested getting a debt relief order having read about these it says you are allowed to have nothing of value not even an old car value is about £400 can someone please give me an answer
thank you |
| 4 L A T E S T R E P L I E S (Newest First) |
| desmond.p |
Posted - 05 January 2010 : 17:43:24
thank you very much i have been in touch with the cab today and they were pretty helpfull although they think i may have a bit of difficulty with income tax part of the dro,but it is a relief just to get some help and know there is light at the end of what has been a long tunnel for me
thank you des p
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| Melanie.n |
Posted - 05 January 2010 : 07:57:52
If your debt level is below £15k then a DRo is your better option. The car is not of significant value to stop you applying for a DRO (limit £1k) The fee is considerable cheaper at £90 and if you apply via the Citizens Advice Bureau they will even accept up to 3 smaller payments to make up the £90. Give your local CAB a ring and book an appointment with the money advisor. The restictions on you as an individual are no different if you go down the DRO route but it is all doen at for example the CAB, you will not have to attend Court to file.
Melanie Nicholas
29 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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| gettingoutofdebt |
Posted - 05 January 2010 : 07:02:03
There is no minimum amount of debt in order to declare BR. A DRO (Debt Relief Order) may be better if the debt is under £15k and you meet the criteria - http://debtrelieforder.org.uk/commonly-asked-debt-relief-order-questions.
If you meet the criteria then there is a list of companies who can setup DROs at http://debtrelieforder.org.uk/debt-relief-order-competent-authorities |
| desmond.p |
Posted - 05 January 2010 : 06:59:15
oh well it seems like no one knows about debt relief orders does anyone know of a site where i might get some help please,i realise my debt is not too large under £15,000 but it is haunting me
thanks for any advice offered
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