Can creditors write off debt?

danandjens_worldtravels

A ‘token offer’ payment is a temporary solution to debt that can carry on.  If your dad has been in this situation for a number of years it’ll be worth his while having a full review of the situation and seeing if there is a more definitive solution. 

He’ll need to do a SOA for the creditors anyway, so get it prepared, get a full picture of his debts and his assets and phone Stepchange/CAB. 

I’m specifically thinking he and your mum should be seeing if a DRO is the solution that will draw a line under this and leave them worry free.  

lordmountararat

Could your dad declare bankruptcy? He would probably be allowed to keep his car if he needs it for work and bankruptcy would wipe the slate clean.

Jude57

danandjens_worldtravels said:

A ‘token offer’ payment is a temporary solution to debt that can carry on.  If your dad has been in this situation for a number of years it’ll be worth his while having a full review of the situation and seeing if there is a more definitive solution. 

He’ll need to do a SOA for the creditors anyway, so get it prepared, get a full picture of his debts and his assets and phone Stepchange/CAB. 

I’m specifically thinking he and your mum should be seeing if a DRO is the solution that will draw a line under this and leave them worry free.  

Wouldn't it depend on the value of his car? DRO is only suitable if the vehicle is worth less than £2000 and all other conditions are met.  I agree with everything else you say, though.