The time is now..

silvercar

Daniellemcookie wrote: »

The cost difference is enormous, if I can go down the DRO route, i'll be able to put aside the money to apply within weeks rather than months!

My main concern right now is stopping the direct debits to the creditors. When is the 'right time'? I'm waiting for my paperwork for my new bank account, but realistically need to be setting up all of my standing orders for my rent etc as soon as my online banking arrives, which means all the DD's need to stop.

Is there a 'moral' way of doing this, writing to the companies to let them know, or do I cancel them and just hold tight through the storm? :eek:

If you are going bankrupt/ DRO then you may as well do it as soon as possible.

Bottom line is that you need to pay rent and you can't afford rent while you are paying credit card debts. This situation isn't going away, so the sooner the better.

Don't expect the credit card companies to be on the phone; it will take them a while to act on a missed payment.

There are no 'moral' considerations for you here. The credit card companies know that a certain percentage of debts owed won't be paid, it is in their business model. Paying rent is a priority debt, more important than servicing debt.

Aaleigha

have a talk to your therapist about your money situation mine changed to a visit to mines home in her therapy room and a much reduced amount (half) I too was in therapy for four years and do know how VITAL it can been so I would not give them up but just get as much documentation as you can and statements from those (who know) you are in contact with on a regular basis

wish you all the best for your future

Sugarglider1992

Hi All

Just wanted to update as I have ended up in a right pickle! After taking Step Change debt advice back in January, and as they advised me to do so, set up a DRO application and sat patiently waiting for weeks, and weeks.

Today, they confirmed they would not be processing my DRO application as the insolvency service will decline it due to my therapy.

WHAT THE?!

I made it VERY clear to them from the start about my therapy, they put it under 'medical expenses' & as they told me to, I got a case together with letters and documentation dating back to 2004. I stopped all my payments to creditors and they leave it until I have already missed a few to tell me that they won't be processing my application anyway. All these weeks sat waiting and they could have told me this on day one.

So now after 2 missed payments to each creditor, going on for 3... I am back at square one, having to look down the standard bankruptcy route.

This has knocked me down a lot, I am just scared that when I find the money to file for bankruptcy, they will be turning around and giving me the same rejection I have just faced.

does anybody have any experience with this, or anything relating to mental health medical expenses with a bankruptcy application please? Feel like I have hit a brick wall

Minkym00

If I were you I would write a complaint detailing everything you have here, explaining how much of an impact that the delay has had on you and how it has worsened your financial position. Send it the the head of the Insolvency Service at sarah.albon@insolvency.gov.uk.

It’s always more effective for a complaint to passed down the chain than up it!

betterdaysahead

Sugarglider1992 wrote: »

Hi All

Just wanted to update as I have ended up in a right pickle! After taking Step Change debt advice back in January, and as they advised me to do so, set up a DRO application and sat patiently waiting for weeks, and weeks.

Today, they confirmed they would not be processing my DRO application as the insolvency service will decline it due to my therapy.

WHAT THE?!

I made it VERY clear to them from the start about my therapy, they put it under 'medical expenses' & as they told me to, I got a case together with letters and documentation dating back to 2004. I stopped all my payments to creditors and they leave it until I have already missed a few to tell me that they won't be processing my application anyway. All these weeks sat waiting and they could have told me this on day one.

So now after 2 missed payments to each creditor, going on for 3... I am back at square one, having to look down the standard bankruptcy route.

This has knocked me down a lot, I am just scared that when I find the money to file for bankruptcy, they will be turning around and giving me the same rejection I have just faced.

does anybody have any experience with this, or anything relating to mental health medical expenses with a bankruptcy application please? Feel like I have hit a brick wall

Hi, just wondering how things have progressed for you since this post? There is always light at the end of the tunnel. Prior to my bankruptcy I found StepChange very useful to speak to regarding the financial aspect of things, but everyone's situation is unique. And please understand that bankruptcy is not an horrendous full stop. I am now less than a full year away from completing my 6 years. During that time I have had ups and downs to say the least, but I have never felt more positive about life. It can seem like a huge length of time but it really isn't. I've learnt that if you put the small building blocks in place that seem insignificant at the time, time disappears very very quicly and as a person you can heal quickly. I hope all is going well and wish you well going forward!