This is for anyone who is looking to go BR after 1st April this year.
I've just read on the sister site that the fees are going up after then to £515.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi
There should also be the option of a debt relief orders for people with debts under 15k, no assets above 1k and disposible income under £50. This will cost £90
Regards
It will be interesting to see how many people actually apply for the DRO's.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Oh dear, this isn't good news for me. I've decided today that BR is my only option.
What's a DRO? My debts are over £15k, I have no assets over £1k and will have no disposable income after 31st March.
You won't be eligible for the DRO if your debts are over £15,000.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
DRO stands for Debt Relief Order - which is designed to provide a similar result to bankruptcy, but at a much lesser costs for individuals with low disposable income, debts and assets.
And net disposable income for the ongoing 12 months not exceeding £50
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
