dmp or bankruptcy

suzy1

hi all,
my husband is considering either a dmp or bankruptcy.
we have looked at the paper work for payplan & it all looks ok apart from the fact that it will take years to pay off his debts.
we have also looked at bankruptcy which is a different story as there are loads of things to take into account.
does anyone know the rough answers to the following,

does the OR take my income into account?

i have a car & hubby has a motorbike both means of transport for work will they take them both? (both only worth £1000 together)

does bankruptcy have to be joint?

even though hubby is not in arrears with debts can he still go bankrupt?

sorry for silly questions that you have probably been asked a hundred times before. thanks suzy

NekoZombie

yes he can go bankrupt even if he is not in arrears. I would advocate not paying any bills the month before bankruptcy - just to save up the fee for bankruptcy. Every little helps!

suzy1

thank you for your replys guys!

the car is registered in hubbys name only for no claims discount reasons, im the main driver.
the bike is registered in hubbys name too (i dont think he would let me lose on his baby ha ha) both were bought second hand so the bill of sale could be anywhere.
how bad is it going bankrupt? weve heard soo many horror storys.
if it means just getting a nights sleep that would be good.
its good to speak to people that dont judge you & say ''ohh know not bankruptcy''
thanks again suzy