Bankruptcy: Help and advised needed please!!!!!!

JKM_3

Thanks everyone this is a great help, I am going to fill in the provided form and come back to you with the outcome.

Excuse my ignorance but what does OP stand for?

She was referred to an IVA company called Debt Free Direct, CAB did initally advise her to go bankrupt but she wasnt keen on the idea to begin with but now she has seen the figures she is even more depressed so I am trying to convince her that BR is the best option.. she is happy to pay back what she can but the plan offered is completely unreasonable...

Merry_Gentry

OP stands for Original Poster.

dreamcatcher73

op is opening poster - or something like like, basically means you..

Arrrgghhh stay away from Debt Free Direct, run as fast as you can....all makes sense now..

Get proper advice from cccs, cab or national debt line, all free advice and sensible advice..

JKM_3

We are trying to fill out the SOA form but we are not sure what her APR rates are - she owes to 12 different creditors and it could take ages to find out this info, I have the info on who she owes money too and how much (as completed for her IVA) do you think I should put an average amount??

dottydora

JKM wrote: »

We are trying to fill out the SOA form but we are not sure what her APR rates are - she owes to 12 different creditors and it could take ages to find out this info, I have the info on who she owes money too and how much (as completed for her IVA) do you think I should put an average amount??

I guess for the purpose of the guys on here helping to see what income and expenditure is like it doesn't really matter, I'd guess for now.

Merry_Gentry

You are doing the SOA based on her having no debts so don't worry about that side of things. This is for the purpose of working out what sort of IPA she might have.

JKM_3

ok here are the figures

total income 3500
expenses 1800
available for debt repayments 1787
unsecured debt repayment 2160
surplus (shortfall) -373

assets 1300
unsecured debt 71807
net assets 70057

as stated earlier she is likely going to lose her on-call option at work shortly so her income will drop by 1000 a month.

any thoughts guys?

JKM_3

sorry merry i didnt see your reply before i filled out the form!

Merry_Gentry

Sorry, JKM, if you complete the form on the link I left for you, it splits the amounts down so we can advise you what will and won't be accepted by the Official Receiver.

JKM_3

I did fill out and got the response posted above - sorry I'm confused.com!!