Please help advice on dro

Seniorj36

Hello

I'm after some advice and help on a DRO please? My circumstances are quite severe, I used to have a gambling addiction which thankfully, I have managed to stop myself from doing now and recovered from. As a result I've managed to accumulate total debts of just under £15,000. Things got out control taking out credit cards just to cover my addiction and now when I get paid each month, I have no money due to the amount of debt I am paying out. I spoke to a friend at work who thinks I should be entitled to a DRO or even bankruptcy due to my total expenses costing more than what I earn but have a massive concern playing on my mind.

I basically have car finance in my name but don't drive, I took the car finance out for my best friend who pays me each month. Would I need to declare that on a DRO? I am in a really bad position because i cannot continue living in this mess but at the same time wouldn't want my friend to lose his car which he's been paying me for the last 3 years?

I know what I've done is stupid and totally regret everything and just want to get things back on track once again

wba31

Instruct your friend to pay the HP company directly. If you then apply for a DRO the HP can be excluded from the order on the basis it is being paid by a 3rd party.

Be advised however, if the 3rd party was to default on the agreement, anything left of the debt to pay would become your liability.