Bankruptcy & Maternity

dexd

I’m currently in a situation where I want to declare myself bankrupt.
I have 25k worth of debt and had started a DMP at the beginning of the year with a finish date of 8 years- this was ok because I had job prosepects ahead that one day would earn me more money so I could finish it earlier.
Unfortunately, my husband has had to take a new job with a big job cut, meaning he pays me £300 a month less for bills (they all come out my account).
Then I found out I was pregnant(meaning the job prospects went out the window) so I was considering asking the DMP to reduce my payments but with lower payments, my DMP goes on for 12 or so years!
Not to mention, I will be going on Mat leave in November and in January my salary will drop right down to SMP and there’s no way I will be able to afford paying my debts, neither will I be able to go back to work full time afterwards.
I guess the reason for my post is to see if people think going bankrupt now is a good idea or if I should wait til my salary drops down, purely for the fact I do have some surplus but it’s being saved for buying baby things and so I have a bit of a fund for when I earn a lot less! I’m worried they will work out I can afford an IPA because
Of my surplus, when really I can’t and the situation will only get worse.
Also will the OR question my husbands expenditure? Because he pays me less than 50% of bills now, but that’s because he has another child to pay maintenance for as well as his own debts, so we agreed on a lesser amount.
Thanks in advance for any responses

hbp2008

I'm no expert but I'm sure if you go BR now, have to start an IPA and then the situation changes where you can no longer afford it, it would then stop?

Also, when you do your budget you will include yours and your partners income and outgoings, including his child maintenance payments so they will take this into consideration.

From my personal experience when I went BR last month, the official receiver was very generous in what we could budget for, upping clothing allowances and taxi allowance as they said what I'd put was too low. I've found they really are there to help and not make things more difficult, especially as you're pregnant too.

Good luck, if you need to chat just inbox me x