please help!

HappyMJ

gawebb99 wrote: »

how would it work if i tackled my debts in my name, despite being married

how do they work out budget of how much i pay towards things such as rent bills etc?

im wondering whther to just do my own debts, in my name, and ask for a DRO.
not sure if i'll be down as having £50 a month or less surplus however, as at the moment all wages go in one bank. so i dont technically know how much rent my wages cover, etc? does that make sense

Your share of the bills is half. It can be more if your income is higher than your partners.

If you get a DRO you will have to close all joint accounts before you apply.

gawebb99

so ive lliterally just got off the phone to step change who were lovely and i have 3 options

IVA- one monthly affordable payment for 5 years

DmP- one monthly affordable payment over 9 years

bankruptcy- so we'd have to apply indivdually so twice the fee's, would have to pay surplus back each month probably similar amount to iva but for 3 years

any suggestions as to which may be best?

fermi

StepChange are good, but as everywhere it does to some degree depend on the person(s) you talk to.

So I would suggest talking to at least one other free debt charity, to see if they have a different take on your options and the pros/cons of each.

https://www.nationaldebtline.org/ are very good, but any of the ones on the Debt counselling: get free help link are as well.

gawebb99

thank you- unfortunately i dont really have time to speak to anyone else. i took today off work to sort this and have spent hours on the phone to them and it seems ok, they appear to come recommended?correct me if im wrong

im just wondering which option would be best. they did a budget and said we have £292 surplus between us each month

crazy_cat_lady

I did a dmp with Stepchange which took me just over 5 years to pay back. The thing I liked about it was the flexibility to change payments when I needed them - I decreased, then increased etc.
I just replied on your other thread about a basic bank account. I went into HSBC on a Saturday to open my account.