Helping my brother with his debt problems

thelionel2000

Hi, just been reading over your post and a few points I picked up on, but first BR is not going to be an easy way out from day 1 everything changes also don't go rushing into going through BR. I went BR at the end off 2013 I started putting things in place at the start off 2013 and sounds similar to my situation but I had most off my debt from early 20's and had gone through the dmp process as well.
I was using step change and they was a massive help also once I had gone BR it was a massive relief but I have only completed the first hurdle.
Looking at your bro budget the OR will take the surplus but he will most likely tell you to get rid off the sky, cut your clothing allowance down, cut your telephone down, food seems a bit high as well for a SP, holidays he may allow but doubt that much, haircut as well SOS basically he would cut most things down to the minium and once that is done everything else will go to the OR and he would then have a period off time he has to pay that for. Also once he is BR he will have to pay his tax to the OR as well until the new financial year
Does he have a car or pay the person who gives him lifts any money?

Also going BR forget credit for the next few years even down to getting insurance by DD/mortgage/loans and if you need to make sure you make payments to the OR they need to be on time and finally make sure your brother is happy with doing this and also happy with you helping him, I know it sounds strange but an in direct member off my family helped me and think That worked better as no direct member got involved unless I needed them to.

Sorry to go on but that is what I have experienced.

Toffeman

thelionel2000 wrote: »

Hi, just been reading over your post and a few points I picked up on, but first BR is not going to be an easy way out from day 1 everything changes also don't go rushing into going through BR. I went BR at the end off 2013 I started putting things in place at the start off 2013 and sounds similar to my situation but I had most off my debt from early 20's and had gone through the dmp process as well.
I was using step change and they was a massive help also once I had gone BR it was a massive relief but I have only completed the first hurdle.
Looking at your bro budget the OR will take the surplus but he will most likely tell you to get rid off the sky, cut your clothing allowance down, cut your telephone down, food seems a bit high as well for a SP, holidays he may allow but doubt that much, haircut as well SOS basically he would cut most things down to the minium and once that is done everything else will go to the OR and he would then have a period off time he has to pay that for. Also once he is BR he will have to pay his tax to the OR as well until the new financial year
Does he have a car or pay the person who gives him lifts any money?

Also going BR forget credit for the next few years even down to getting insurance by DD/mortgage/loans and if you need to make sure you make payments to the OR they need to be on time and finally make sure your brother is happy with doing this and also happy with you helping him, I know it sounds strange but an in direct member off my family helped me and think That worked better as no direct member got involved unless I needed them to.

Sorry to go on but that is what I have experienced.

He doesn't have a car and he gets picked up by colleagues in a work van.

Many thanks for all of your advice.