Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
T O P I C R E V I E W
alanhe
Posted - 02 June 2009 : 10:19:28 I am a little confused!!
Currently I can afford the DMP payments on my unsecured debts of circa 75k ( maybe a little less ). However these will never get paid off in my lifetime, especially when the creditors start to re-apply interest on the accounts ( effectively wiping out any payments made ).
Most of my debts have now defaulted and been sold on to DCA's. Question is what monthly payment do I show against these to prove I am bankrupt ????
Thanks
Alan
1 L A T E S T R E P L I E S (Newest First)
Suzanne
Posted - 02 June 2009 : 11:25:19 Hi alanhe
All you need to do to prove your insolvency is to show that you cannot afford to pay your debts when they become due, or have insuffient assets to so, and this is what the examiner will do.
The SOA doesn't ask you for monthly payment amounts, just balances.
