Debt Camel's bankruptcy information looks at the major questions most people have about bankruptcy - will my job be affected, what will happen to my house etc. There are two other types of queries that people have: concerns about their assets, which I covered in a previous article, and worries about what powers the Official Receiver has to control people's lives, which I am going to be looking at … [Read more...]
Getting out of debt
Practical articles about the different debt options, which might work for you and different ways of dealing with creditors
Is a DRO better than a DMP or bankruptcy?
Choosing between a Debt Relief Order (DRO) and other debt solutions is often a pretty easy choice! Let's look at when a DRO is a good option for you and what the alternatives might be. Debt Relief Orders DROs are a form of insolvency in England, Wales and Northern Ireland. For an overview of DROs, read What is a Debt Relief Order? They are meant for people who have little or no spare income … [Read more...]
Will debt collectors stop calling after a Debt Relief Order?
One of the biggest advantages of a Debt Relief Order (DRO) is that it is a formal, legal debt solution. It prevents your creditors taking any further action against you for debts that are included in your DRO: you can't be taken to court for a CCJ (or a Liability Order for council tax arrears); if you already have a CCJ, the creditor can't send the bailiffs in - and debt collectors should … [Read more...]
Will the OR take my redundancy money?
A reader has asked: I have been offered redundancy. I would like to retrain for a more interesting job, but I still have nearly a year of IPA payments to make, so will the Official Receiver take all my redundancy pay? It depends on your discharge date The answer to the question depends on whether the last day of employment is before or after the date of discharge from bankruptcy. There are … [Read more...]
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