Confused by Step Change Advice recieved



  • Hi whelm
    step change emailed their recommendations as part of a document that listed the sos I went through with them etc.
  • ToxtethO'GradyToxtethO'Grady Forumite
    289 Posts
    Fourth Anniversary 100 Posts
    StepChange will always want your budget to be balanced (same amount going out as coming in) before recommending insolvency such as a DRO or Bankruptcy.

    No use writing your debts off and being in arrears at the end of it, you could go for DRO but would have to wait until your BR came off the insolvency register.
  • fatbellyfatbelly Forumite
    16.9K Posts
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    I agree that a situation should be stable before going for insolvency as you don't want to be incurring further debts and not be able to do anything with them.

    Where someone is relying on credit to survive it also does not make sense to cut that line at that time.

    But a 'balanced budget' is too blunt an objective. Most of the clients I see these days (and this has been true since about 2012) have negative financial statements and are propped up by families and friends. They still get helped to get a DRO or Bankruptcy and this works for them
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