DRO advice required

Mac9

Hi all,

Just looking for a bit of advice that so far I've been unable to clarify through rooting round on various advice websites.

I'm considering applying for a DRO but I'm concerned that my debt may be too high.

Now I believe that the maximum total debt you can have is £15,000. My debt may be £17,000 - I am currently waiting for confirmation from a creditor.

If my debt was over £15,000 then does that mean I am completely ineligible for a DRO? Or could I just have some of my debts subject to it?

Thanks.

Tixy

If your debts are over £15k you are ineligible. You'd perhaps want to consider bankruptcy instead if you met all the other consditions of a DRO.

wba31

Tixy wrote: »

If your debts are over £15k you are ineligible. You'd perhaps want to consider bankruptcy instead if you met all the other consditions of a DRO.

all debts must be included, you cannot pick and choose which debts get included to bring yourself under £15k

fatbelly

You might want to look at challenging ppi, charges and generally trying to pick holes in the balance figures.

Or go for bankruptcy.

Mac9

Cheers all.

I thought this was the case to be honest but just thought I'd ask.

Looks like bankruptcy it may have to be.