Going Bankrupt when on a Debt Plan!! Help!!

searsy2003

Hi all, I've read this forum in the past and found useful info.
I have some debts of about 5 grand with 10 different creditors but for the last year not been able to pay them due to splitting up with my ex and in and out of work.
I decided to go on a Debt Plan with DebtFixers the other month, £150 a month for i presume a few years atleast.
Now my problem is i'm out of work yet again and finally had enough of all the stress. My current GF thinks i should go Bankrupt but not sure if i can now i'm on a debt plan!!!
Does anyone know if it is possible, i'm so stressed and fed up of everything.
Cheers
Chris

Manoona

Hello...

You are able to go BR whilst on a debt plan, Your first point of call should be one of the debt charities, no doubt you are paying a fee to these 'Debtfixers' and you should never have to pay a company to do this when there are so many very good, very expereinced free ones.

Give the national Debt Line a call or the CCCS - you can also do this on line if you would prefer, in teh scheme of things your debts are relatviely low and they be able to suggest other routes ou can take such as Debt Release.

Thie other thing I would do ASAP s cancelt eh DD to your debt management people and advise them you no longer wish to continue down this route!

Hope ive helped a little!
Manoona x

searsy2003

Hi, Thanks for reply.
Emailed DP company today asking to stop taking payments and they said fine and they would be willing to look into bankruptcy with me.
Doing a quick search on there site reveals they charge £400 on top of the usual fees just to do this. I think i'll just ring one of the free ones up.
Thanks
Chris

dojoman

Whatever you do, DO NOT pay anyone to help you, you can get all the help/support/advice off this forum, meanwhile please contact one of the debt charities.


https://www.nationaldebtline.co.uk/
https://www.citizensadvice.org.uk/
https://www.cccs.co.uk/

fermi

If you only owe £5K, then a DRO may be better, rather than BR?

Do you have any CCJ's? If so, and the debt is less than £5K, an Administration Order may also possible?

As said, take free advice from people who aren't looking to charge you.