advice needed BR v DRO

joa1210 · 12 July 2018 at 11:20AM

hi, i need some advice please, we currently have a filed in bankruptcy applicatio, just saving to pay and press the button, however my husbands pcp termination fee has come back at less than we thought, leaving his debt figure a £10k. can a bankruptcy be refused on this figure?
Is it worth thinking about DRO instead?
I've filled the stepchange debt remedy in but i must be missing something out as they have us with £421 spare and are recommending DMP but on the direct gov website we come in at £17 surplus.
the only thing is that my husband does 8 weeks of compulsory over time for 8 weeks at christmas how would this affect it? if i put this into the direct gov BR application it averages it and looks like we have a massive surplus which obviously we don't.

any advice gratefully received TIA

National_Debtline · 12 July 2018 at 4:36PM

Hi joa1210

If someone qualifies for a DRO it will usually be a more suitable option than bankruptcy because the DRO fee is so much lower than the bankruptcy one (£90 v £680).

It's certainly worth looking into the DRO option before submitting the bankruptcy application. It's tricky to say which is the best option as there is an obvious discrepancy between the two statement of affairs (SOAs) you've completed. I'd suggest contacting one of the free debt advice agencies to complete an accurate SOA & to get advice on whether a DRO is more suitable.

Best wishes

Susie
@natdebtline

advice needed BR v DRO

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