DMP into BR

Bella_Smythe

how does the OR look on BR pettition if you are already in a DMP? i started one paying about £65 a month but have had to cut my working hours due to illness and now pay the minimum of £16 so its going to take me about 300 years to pay it off! will they accept a br petition for this reason or will they say as i can afford the £16 a month i can keep on with the DMP? also i am going to let me house go, intend to stop paying mortgage to save up BR fees and let BS repossess when they get round to it! (btw this is after months of worry and soul-searching, im not as flippant as i sound, ive just accepted this is the way things have to be). also my husband will be petitioning at the same time also has a DMP but not as big as mine?

Bella_Smythe

anyone? help?

Depth_Charge

Bella_Smythe wrote: »

how does the OR look on BR pettition if you are already in a DMP? i started one paying about £65 a month but have had to cut my working hours due to illness and now pay the minimum of £16 so its going to take me about 300 years to pay it off! will they accept a br petition for this reason or will they say as i can afford the £16 a month i can keep on with the DMP? also i am going to let me house go, intend to stop paying mortgage to save up BR fees and let BS repossess when they get round to it! (btw this is after months of worry and soul-searching, im not as flippant as i sound, ive just accepted this is the way things have to be). also my husband will be petitioning at the same time also has a DMP but not as big as mine?

Hi

If bankruptcy is an appropriate solution given your full circumstances then basically there should be nothing to stop you.

A debt management plan is an informal solution and would not act as a barrier to stop you going bankrupt.

The B/R 6.28 form asks the reasons why you cannot pay your debts etc

The O/R should assess you based on your circumstances when bankrupt not any previous informal arrangements however they are very likely to enquire as to the history of your situation when you are interviewed.

People can tend to struggle in trying to make payments prior to bankruptcy often leaving themselves short.

Just a guide from me as I do not know your full circumstances.

Always best to get proper advice on all options based on your full circumstances making sure you understand the implications / pros & cons before deciding on anything.

Best Wishes