DRO’s and IVA’s

cornish_donkey wrote: »

I’ve been on the stepchange website and they do not recommend an IVA but bankruptcy is an option what are your thoughts?

I can't see bankruptcy having any advantages if he qualifies for a DRO.

Where bankruptcy can be an advantage is if you know there are more debts out there but don't know the details. With a DRO it's only the debts you list that are written off. With bankruptcy all your debts that pre-date the bankruptcy are covered, whether you list them or not.

But he seems to know the detail, DROs are cheaper, you cannot be given an IPA. I would talk to a sensible intermediary - see if your CAB has one - and see if you can push it forward.