advice needed with just about everything

fatbelly

Still not 40k. If we round the non-priorities to 18 k and add the guarantor loan (that you're liable for and paying by the sound of it) then that's 32k.

At £235.50 per month that's still over 11 years on a debt management plan.

So we're back to bankruptcy as the recommended option and I agree with Sourcrates about the soa.

Some of the 'miscellaneous' would have to go but for an adult and 2 kids I'd be looking at £300 per month food and housekeeping or a bit more; £60 per month clothing; get some contents insurance and bump up electricity a bit.

I don't think you'd end up with much of an income payments agreement; maybe £50 per month or a bit less.

Is the benefit overpayment fraudulent?

sourcrates

Can a guarantor loan be included in a Bankruptcy, even if the Guarantor has not yet been asked to pay it ?

At what point does a guarantee to pay a debt become an actual debt, when they sign the papers to be a guarantor, or when they are asked to pay because the debtor has defaulted ?

Would this action not just write off the loan, and would the original debtor on the loan still have to pay anything ?

Raises a few questions that one.

sourcrates

January2015 wrote: »

I thought to be eligible for a DRO you had to owe less than £20k. OP said he owed £40k. I know his SOA only quoted £17.7k but he acknowledged he hadn't included a guarantor loan.

Have I missed something?

No,

I was a bit unsure how the Guarantor loan fitted fully into the picture seen as the OP has not yet been asked to repay it.

Pixie5740

I believe a guarantor loan still has to be included in insolvency because it is still an unsecured debt. You can't exclude it from insolvency otherwise it looks as though you're giving preferrantial treatment to that unsecured debt over your other unsecured debts. (I'm 95% confident about this).

If it's a joint guarantor loan with the ex then the lender can still come after the ex and the guarantor.

fatbelly

I took it that it was being paid because the OP says 'i purposley left out a gurrantor loan i have at a cost of 37.13 per week'

The liability (or potential liability) would be covered by bankruptcy

But I admit this is a complex area and if this is not already in payment it may be possible to interpret the DRO rules to leave it out as a not a 'liquidated sum payable either immediately or at some certain future time'

In the OP's situation I'd want the whole lot gone and I wouldn't be looking at ways to squeeze them into a DRO whatever the present position with the guarantor loan.

sourcrates

fatbelly wrote: »

I took it that it was being paid because the OP says 'i purposley left out a gurrantor loan i have at a cost of 37.13 per week'

The liability (or potential liability) would be covered by bankruptcy

But I admit this is a complex area and if this is not already in payment it may be possible to interpret the DRO rules to leave it out as a not a 'liquidated sum payable either immediately or at some certain future time'

In the OP's situation I'd want the whole lot gone and I wouldn't be looking at ways to squeeze them into a DRO whatever the present position with the guarantor loan.

Thanks for the clarification.

I agree, i`d want the whole lot gone too.

Slowmonkey94_2

yes theres a few thousand more to diffrent creditors aswell it maybe that br is my best option theres a old payday loan of 250 to cash genie aswell i cant even describe the stress all of this has brought me or how it even got this stage in the first place alls i know is i really appreciate the replies the benefit overpayment was not fraudlent and yes iam still paying the gurrantor laon