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Should I stop all DD

While saving up to get funds for bankruptcy should I cancel all direct debits,
Would this be ok by the OR, or would they ask where that money has gone.

Comments

  • sourcrates
    sourcrates Posts: 31,648 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Yes of course you cancel them.

    OR won’t be interested, don’t over think things.

    What is the point of continuing to pay debt when your going bankrupt.

    Save the fee and crack on.
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  • terrence45
    terrence45 Posts: 132 Forumite
    I'm sure many people who go bankrupt haven't fulfilled their direct debits for months or even years before making the application, so don't worry.

    If the money you save helps you with your bills and food etc, even more reason to stop them. Heck, do what you want with the money while you can! As far as I know, the OR can't penalise you for spending your own cash (as opposed to credit) however you like prior to bankruptcy.
  • Many thanks for replying
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