New to DRO please help 22 July 2020 at 6:48PM in Bankruptcy & living with it 2 replies 102 views

helpmewithdebt1

Hello

This is my first time posting.

I had a debt management plan with Stepchange and have kept up my monthly repayments.

My circumstances have now changed due to a mental health breakdown and marriage breakdown.

Since my DMP, 4 additional loans have been taken out in my name and I’ve signed them whilst under influence of strong medication and not being in any frame of mind to argue or think clearly about it.

I contacted stepchange today regarding a debt relief order and updated the new debts in my name with them. 

I am really scared about this and took me a lot of courage to call them, I felt like a fraud and I’m just on the brink of another breakdown about this.

Can anyone who has had a DRO tell me your experience with it. I’m worried it won’t even get approved. I earn £1200 a month, my outgoings are £1350 and my debt in total is £10,670.

Thank you x

fatbelly

DROs are best done when your situation is stable.

Sometimes people need credit short-term in order to pay essentials.

If your earnings are £1200 a month, and outgoings are £1350, then how are you going to survive over the next few months? 

Do you want to post a statement of affairs and I'll have a look at it?

https://www.lemonfool.co.uk/financecalculators/soa.php

sourcrates

Does the £1350 include current debt repayments ?