Facing Bankruptcy? Introducing the Survival Guide You Just Can't Afford to be Without...

Facing up to the prospect of bankruptcy is difficult enough - without having to search far and wide for the answers to those all-important questions. Now, for the first time, a complete step-by-step strategy has been written which provides a clear path through the entire process. The result is a detailed ‘in-the-trenches’ account from a bankruptcy survivor, packed with helpful hints and tips and broken down into plain English.


You will discover:

  • Sources of trustworthy free independent advice
  • Alternatives to bankruptcy, including the new Debt Relief Order
  • How to stop creditor / debt-collector harassment
  • A quick and easy way to raise money to pay costs
  • Ways to eliminate negative thinking and fear
  • Exactly what will happen to you
  • How to protect your income, possessions, home and car
  • How to obtain early discharge
  • How to repair your credit rating
  • How to stay financially secure in the future


Lee Betteridge holds a degree in Business Law and had an early career in banking. After an entrepreneurial foray into property, he was forced to declare himself bankrupt in 2007. This is an account of his journey told from both a professional and personal point of view. His personal experience shines through as he describes ways to face your situation and come out of it smiling and debt-free.

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Survival Guide Contents

Part I: Is Bankruptcy Your Best Option?

1: The Historical Context
2: Myths
3: The Process and the Players
4: The Insolvency Service
5: Pros and Cons
6: Your Alternatives
7: Living Abroad?
8: Get Independent Professional Advice

Part II: Turning Your Life Around

9: Changing Your Thinking
10: You Are Not Alone
11: Who Will Find Out?
12: Dealing with Creditor Harassment
13: Sole and Joint Bank Accounts

Part III: The Bankruptcy Process

14: The Costs
15: Completing and Presenting Your Petition
16: The Day of the Hearing
17: Official Receiver Interview
18: Bankruptcy Restrictions Orders
19: Trustee Interview

Part IV: While You Are Undischarged

20: Duties and Restrictions
21: Annulment and the Fast Track Voluntary Arrangement
22: Deciding which Bills to Pay
23: The Effect on Your Assets
24: Saving Your Home
25: Keeping Your Motor Vehicle
26: Present and Future Employment
27: Protecting Your Income
28: Your Pension
29: Securing Early Discharge

Part V: After You Are Discharged

30: The Process and Effects of Discharge
31: Distribution of the Bankruptcy Estate
32: Repairing Your Credit Rating
33: Budgeting for a Debt-Free Future
34: No Regrets

Thursday, 23 July 2009

Debt Relief Order

A Debt Relief Order (DRO) is a formal insolvency process for individuals who have a relatively low level of debt which they cannot repay, little surplus income and no assets. The procedure is a cheaper non-court based alternative to bankruptcy.

Are You Eligible?

To be able to apply for a DRO you must meet the following requirements:
  • you must be unable to pay your debts
  • your total debts must not be more than £15,000
  • your total gross assets must not be more than £300 (although you can own a car worth up to the value of £1,000)
  • your surplus income must not be more than £50 per month
  • you must be living in England or Wales, or at any time in the past three years been resident or carried on business in England or Wales
  • you must not have previously been subject to a DRO within the last three years
  • you must not already be involved in any other type of insolvency procedure e.g. a bankruptcy or individual voluntary arrangement
Posted by LEE BETTERIDGE at 17:47