DMP or BK

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GordonH: Posts: 11; Joined: Tue Feb 10, 2009 9:51 am

by GordonH » Fri Feb 20, 2009 11:55 am

Hello

Thanks to advice from this forum have managed to get my repayments to LLoyds reduced by more than two thirds - to be reviewed in six months.The bad news is that at the new rate it will take very many years to clear the debt.

My question is: as I am still considering the BK option have I shot myself in the foot as my outgoings are now much less than they were a week ago

Skippy

Posts: 20706

Joined: Sat Oct 21, 2006 6:08 pm

Location: United Kingdom

by Skippy » Fri Feb 20, 2009 12:03 pm

BR is still an option for you. Providing you owe more than £750 you can petition for your own BR.

View my blog at http://skippy13.blogs.iva.co.uk/

David Mond

Posts: 4896

Joined: Tue Sep 30, 2008 9:31 pm

Location: United Kingdom

by David Mond » Fri Feb 20, 2009 12:11 pm

Or have a look at an IVA - seek independent advice before you make any decision. Visit www.iva.com and review practitioners who can give you impartial appropriate advice.

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.

Skippy

Posts: 20706

Joined: Sat Oct 21, 2006 6:08 pm

Location: United Kingdom