Bankruptcy again amd soa :(

MissFlossy222

I agree with the other posters who said a DRO might be best suited for you. I think Stepchange/Payplan will advise bankruptcy if your budget shows a surplus of over £50, so its important to complete a thorough and accurate SOA to show the reality of your situation. 

Please don't rush into bankruptcy without investigating your other options.

fatbelly

I don't think we have the full picture yet but one difference between bk and DRO is that council tax for the year we are in is automatically included in bankruptcy but is only included in DRO if you have lost the right to pay in instalments, which usually doesn't happen till late May.

Another difference is that bankruptcy is now a quick process that you are in control of. Your DRO has to be done though an Intermediary who works for a 'Competent Authority' and the increasing demands of the FCA mean that this is far from a quick process now. 

Bruiser2018

Hi thanks for such supportive comments after speaking with stepchange they have also recommended bankruptcy too my wife's income is 1400 however she currently has debts of around 90000 including a mortgage repossession.