We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Employer loan to go BR

2»

Comments

  • tigerfeet2006
    tigerfeet2006 Posts: 14,030 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    How much is your car worth?

    Have you checked Parkers Guide?

    Just out of interest can I ask who you got advice on BR from?
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    cuemix wrote: »
    and I would have stopped paying my DMP at the point of BR so that might help me pay my employer back, at least for the BR fees. I could stop paying my DMP a month before the petition then I'd have 3 months worth of DMP payments which for me is nearly the full £625. That might work, thanks everyone. Just got to think about buying my car back if necessary.....

    or stop the DMP 3 months earlier and just not take a loan from you employer
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • cuemix
    cuemix Posts: 27 Forumite
    tigerfeet2006 wrote: »
    How much is your car worth?

    Have you checked Parkers Guide?

    Just out of interest can I ask who you got advice on BR from?

    Parkers private poor is £2455 and good is £3115. This figure has dropped since last weekend! Not something I would normally celebrate.

    BR advice is mainly from reading the various forums and websites like insolvency uk or CCCS bankruptcy advice guide.
  • cuemix
    cuemix Posts: 27 Forumite
    debtinfo wrote: »
    or stop the DMP 3 months earlier and just not take a loan from you employer

    I'm worried about my creditors calling me TBH. Sounds silly but I've never actually missed a payment before except when DMP was being set up. Might call my DMP company and ask if this is normal practice and if it would be ok by them.
  • JCS1
    JCS1 Posts: 5,338 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    cuemix wrote: »
    Parkers private poor is £2455 and good is £3115. This figure has dropped since last weekend! Not something I would normally celebrate.

    BR advice is mainly from reading the various forums and websites like insolvency uk or CCCS bankruptcy advice guide.

    You need to take advice from one of the free debt charities - the judge may delay your BR if you haven't.
  • cuemix
    cuemix Posts: 27 Forumite
    JCS1 wrote: »
    You need to take advice from one of the free debt charities - the judge may delay your BR if you haven't.

    Yes, I intend to.
  • tigerfeet2006
    tigerfeet2006 Posts: 14,030 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    OK sweetie, you NEED to talk to one of the debt charities and get proper advice tailored to you. Your petition may be refused if you haven't taken that advice.

    If you say the car is worth £2455 then stop paying your DMP and save the money for the BR and the car, don't put the car money through the bank though ;)

    ETA: to slow :)
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.4K Banking & Borrowing
  • 253.7K Reduce Debt & Boost Income
  • 454.4K Spending & Discounts
  • 245.4K Work, Benefits & Business
  • 601.2K Mortgages, Homes & Bills
  • 177.6K Life & Family
  • 259.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture