| T O P I C R E V I E W |
| th19 |
Posted - 17 April 2009 : 09:32:21
a 73 yrs pensionner has £3k of debt frm creadit card, planed to go for bankcruptcy. Does he has other route? pls help ? |
| 8 L A T E S T R E P L I E S (Newest First) |
| thomaskhoo |
Posted - 01 May 2009 : 02:08:41
just know that the name on the credit card is difference, ie first name Kam vs Kim. Pls advice. Thanks |
| ripski |
Posted - 18 April 2009 : 07:38:04
My understanding is that CAB ( and some others) are doing them. You get the form from them and they help with the process. In the interim, Cab would I am sure be able to negotiate a lower payment. It is annoying but these firms take notice of CAB but not individuals. Debt relief Order sounds the best option to me
ripski1 |
| thomaskhoo |
Posted - 18 April 2009 : 01:23:27
quote:
Originally posted by Reviva UK
Hi Thomas
he really needs to do a full income & expenditure to see if he does have any disposable and then make an informed choice from there.
I suspect it is tight either way and the Debt Relief Order may well be the right solution
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com
Real People ..... Real Debt Solutions
www.revivauk.com
He has around£ £15-£20 of disposable income permomth, we couldn't come to agreement with his credit card as £25 was demanded 6 weeks ago. DRO was in our mind, we just don't know how it work and get its form. Thanks for the reply, Paul. |
| Reviva UK |
Posted - 18 April 2009 : 00:59:18
Hi Thomas
he really needs to do a full income & expenditure to see if he does have any disposable and then make an informed choice from there.
I suspect it is tight either way and the Debt Relief Order may well be the right solution
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com
Real People ..... Real Debt Solutions
www.revivauk.com |
| thomaskhoo |
Posted - 18 April 2009 : 00:53:18
quote:
Originally posted by RHB
Seems a bit extreme for a relatively small amount of debt, what assets & income does he have?
He has a pension of £130 per week and living in council flat in central london. At the moment his debt has been passed to a debt collection company, he is worries sick, no one to turn to. Pls advice, many thanks
regards
thomas |
| Reviva UK |
Posted - 17 April 2009 : 12:56:09
Hi
Br does seem rather extreme for a debt of £3k
if the debt is with only one creditor then an administration order won't be suitable but certainly a DRO may well work depending upon assets & income.
alternatively what about an indefinate debt management plan. if the creditor agreed to £10 per month it may work well for both parties - certinly be a lot cheaper than br without the stress?
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com
Real People ..... Real Debt Solutions
www.revivauk.com |
| Skippy |
Posted - 17 April 2009 : 12:16:51
It would be worth seeing if he would qualify for a DRO as an alternative to BR. There is some information on here about it, so I'll see if I can find it for you.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
22 IPA payments made, 14 to go - on the home straight! |
| RHB |
Posted - 17 April 2009 : 12:00:19
Seems a bit extreme for a relatively small amount of debt, what assets & income does he have? |
