Ivabr89 Forumite Posts: 48
10 Posts First Anniversary
Hi all... I was planning on bankruptcy as my IVA is going to fail due to loss of earnings etc... after finding out there is a possibility dro threshold may be increased I'm holding off for now..  ok so the basics are ... I'm a single mother of 4 soley on benefits at the moment. Disabled child, im claiming carers at moment to try and stay afloat.  Now kids are back school im going to seek work. Please don't judge I've had to do what best for children. 
I have a partner long distance.. question is if I file for DRO then move in with partner.  Would his income be taken into account? If i moved I wouldn't be claiming benefits or child benefit even so I wouldn't be contributing to the house at first as I'm starting a uni course. Do i do the dro if it goes up in may and wait a year until that's finished? Or is my debt my debt? Any help please 


  • fatbelly
    fatbelly Forumite Posts: 19,173
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    Your debt is your debt
    Your income is your income
    But if you move in with someone your share of the expenses may fall.

    If you know your IVA is going to fail, just stop paying it. You are still protected from enforcement while it is in place and it will take many months to be terminated.

    I presume your debts are 20-30k. See if the limits go up in May and take a decision then. If not DRO, then bankruptcy. You're not a homeowner and don't seem to have any assets - not sure why you went for IVA to start with.
  • Ivabr89
    Ivabr89 Forumite Posts: 48
    10 Posts First Anniversary
    Thanks fat belly. I was adviced iva by debt management didn't even really get told about bankruptcy, wish I had. I have stopped paying now, I just want sort soon as poss. Yes debts are around 25k although I don't know if the iva will add fees which will have to be included too. So if we move in together how does that effect the dro. I don't want him to have to pay a penny obviously nothing to do with him. But whilst I'm doing uni (part time) I won't be bringing income in. It's hard to find a job around the children that's term time etc so I don't expect to be in work until the uni course is complete. 
  • Ivabr89
    Ivabr89 Forumite Posts: 48
    10 Posts First Anniversary
    I'm just worried that the dro will fail in say 6 months if we move in together. Other option is I wait until discharged hopefully next May.. I want the best option not more stress 
  • sourcrates
    sourcrates Forumite, Ambassador Posts: 27,642
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    As a couple you would have what`s termed a "family" budget, one you both contributed too.
    Obviously your costs may rise when you move in together, just budget correctly, no one will be checking up on you remember.

    Make 100% certain you account for every spend, so your working out is as accurate as possible, in may the disposable income threshold is expected to rise to £100, so that should help you, just apply common sense, if all else fails, bankruptcy won`t. 
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected]. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- The "provit letter" is here-
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