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Stephanie.ch
Starting Member
1 Posts |
 Posted - 29 January 2014 : 23:29:46
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| I am a single mum and currently pregnant. IM receiving income support and total debt is over 5000. If i declare bankruptcy will my income support? The income support is all i have to pay for gas, electric and food for myself and children |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 30 January 2014 : 08:38:38
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Hi and welcome to the forum.
If the debt is less than £15k then a Debt Relief Order could be one way to go providing you don't own your house or have any assets over £3k or have disposable income of over £50 per month once your bills have been paid. It would be done and dusted in 12 months.
However, I do suggest that you seek advice from an expert to find out the solution that's right for you. We have a couple of experts that post on her and their details can be found on the left hand side of the page under the 'experts' link.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 30 January 2014 : 09:48:08
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Hi Stephanie.ch
There are other options that can be explored and certainly on that level of debt, I would not advise you to go down the bankruptcy route.
A Debt Relief Order may be your best bet and if certain criteria are fulfilled, you could have the debts written off.
For help and advice on the easiest and most effective way to a debt free future, please telephone me on FREEPHONE 0800 298 0253 |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 30 January 2014 : 09:53:32
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Just to clarify as well, a DRO will only cost you £90 where as BR is £700 but you may be entitled to a reduction for certain benefits.
Please do seek some advice.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 30 January 2014 : 17:56:58
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Hi Stephanie,
As the others have said, you probably don't need to declare bankruptcy. Make an appt with the CAB or speak to an expert on here to chat through your options.
There will be a solution.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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I am a single mum and currently pregnant.
