Author Topic: DRO Help Please  (Read 2290 times)

xtremx

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DRO Help Please
« on: Mar 23, 2013, 02:59:33 AM »
Hello I'm having to look into Bankruptcy But someone has said about a DRO
 
I owe around £14000 and I have so far been able to make the minimum repayments on all my credit cards and store cards.
But my marriage is in the mist of breakdown and the stress of debt is taking it toll. I got into debt via online gambling which was my release a few years ago Due to mental illness I was suffering from and still do suffer from Panic Disorder, Agoraphobia, Ocd and Mild Depression.
At the moment I don't work so I'm a house-husband. So the only income is my wife's part-time wages 24hours and working tax credit and child tax credit and also child Benefit.
 
My wife has a few credit cards in her name and all the household bills are in her name ie: Sky digital, Dfs, Internet & Phone, Mobile phone and she has to pay them as they are in contract.
 
My bills are my credit cards and catalogues and also my mobile phone (I need my phone due to my Mental Health needing to contact home and helplines also internet anxiety forums).
 
But or marriage is all but over but we still have to be together for awhile due to our 2 kids.
 
So if I go bankrupt/DRO how would that effect my wife and kids and her income and her bills
 
As I don't contribute to the household with not earning any money
But the household deposable income is over the £50 it is around the £300 mark but I have been informed that because I don't earn any money it should be ok.
And due to me problems I will not be looking to start work again until my Panic attacks and other mental health problems are under complete control.

James Falla

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Re: DRO Help Please
« Reply #1 on: Jun 14, 2013, 04:50:09 PM »
Hi xtremx
 
If you owe less than £15,000 and have little income of your own than I would agree a DRO seems a sensible option to consider. As you know the criteria to start a DRO is they you must not have disposable income of more than £50 a month. However this is not based on the household income, it is based on your personal income. As such if your only income is from benefits you have nothing to worry about. You will definitely qualify in this respect. Your wife and kids and her income would not be affect in any way.
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