quick question-bankruptcy petition

sarahlouise1979

Hi,
I'm making a start on filling in my bankruptcy forms, and am stuck on Q4 of the petition. I was ( up until a couple of months ago), paying token amounts to my creditors- a self administered DMP. Stopped to help save for the court fees. So, have i `entered into a scheme of arrangement` or `made a composition` with my creditors????
CCCS bankruptcy helpline closed today so can`t call them!
Thanks

fermi

No, you haven't.

Those phrases basically mean a formal legal agreement between you and your creditors to re-schedule your debts. Usually only relevant when you are talking about business debts etc.

Token payments, a DMP are nothing of the sort.

sarahlouise1979

Great, thank you!
I`ll probably have loads more questions by the time i get through the SOA, but will try and save them up to ask in one post!!