Debt Advice Forum | Debt Settlement Arrangement Forum | DSA Help - Calculation of payments
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28 Posts
Posted - 12/13/2013 :  09:57:17  Show Profile  Reply with Quote
With the new changes I'm weighing up bankruptcy versus a debt settlement arrangement.

Would my payments be calculated in the exact same way for both?

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4 Posts
Posted - 12/24/2013 :  06:46:15  Show Profile  Reply with Quote
The calculation will be done in more or less the same manner.

If you appoint a PIP to handle a DSA you'll agree your monthly payment with them in advance which might, in some circumstances, make allowance for special circumstances. It's then up to your creditors whether they agree to this.

There might not be the same scope for flexibility in bankruptcy, though of course there's nothing stopping you from making your case if special circumstances apply in your opinion.
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Philip Gill



18 Posts
Posted - 01/20/2014 :  11:03:20  Show Profile  Reply with Quote
I would suspect the bankruptcy payment rules will be followed more rigidly than in the DSA/PIA route, where ultimately creditors will make the decision.

Whilst the guidelines for expenditure are inflexible on paper, your PIP will assist you in making a case for unusual circumstances.
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