Bankruptcy 2nd Time with Questions

thefuture

It looks like i will have to go bankrupt for a 2nd time went BR in 2016 both times family illness have just made it impossible to get out of about £40 grand in debt in council property i work full time take home about £2400 per month my wife can't work and gets pip and we get child tax benefit and Universal Credit which is £610 per month does all of this money need to go on SOA because my wife needs some of it for her own bills i have about £15 grand left on credit cards available to spend and haven't missed a payment yet but feel the juggling is getting to much. Any help suggestions would be appreciated this forum was a great help last time. 

sgthammer

If you're going to audit your finances, you need to audit ALL your finances, yes.

There will be outgoings you can't cut back on, and that's fine. But it's the only way to see what you're working with.

thefuture

Im not trying to hide anything but obviously if all the benefits are on my SOA for my personal BR application its going to look like I have more money than I actually have.

fatbelly

Debt relief orders are now more flexible than they were in 2016.

They now cover 50k of debt, are still for non-homeowners. You must have less than £75 per month surplus.

https://www.gov.uk/guidance/how-to-get-a-debt-relief-order-dro#eligibility

Would one of those work for you? Bankruptcy now costs £680. DROs are free

thefuture

Just not sure if I can get to the surplus or not will depend on how much of the UC goes to me I pay all the bills as wife can't work.

ManyWays

You need to talk to a DRO adviser, they see many variations on these situations. I suggest you go to your local Citizens Advice.