Okay, having looked into a DRO and using that spreadsheet from the provided link, it appears that a DRO is not going to be an option for me. I have calculated that my income is £1300 and my out goings (assume that none of my creditors would be receiving a payment) would be 1070 - my landlord has been in touch this afternoon and is willing to accept a reduced rate of rent of £365 per month (down from £500). As such, my disposable income would be £230 which is way above the £50 required for a DMO.

Just having a quick look at a DRO, when it states a disposable income of no more then £50 a month after expenses does that mean before or after creditor payments. For example, I included my overdraft charges of £80 a month above as an expense but for the purposes of a DRO would I not include that? Thank you

Thanks for the reply All were opened / started after 2007. When checking the start dates on my credit file I noticed that M&S was actually 'only' £1200 left remaining and PayPal do not show up on there so I guess my debts are under £15,000.

Hello all. I've come here looking for a bit of advice. I recently split up from my long term partner and can no longer afford to meet the minimum payments for my debts and see no way out of the situation. I have written to the majority of my creditors informing them of my situation and inability to pay (asking for a reduced repayment rate and interest / charges freeze) but have had no positive response from any of them. To be honest, even if they did accept reduce payments then I can't see me being to afford the payments or ever paying off the debt I am now being phoned at home, on my mobile and on my work number daily (despite sending them letters to stop doing this) and my life has become a stressful nightmare. I cant sleep and on top of this all am struggling to get access to my child so am in a complete downward spiral. I've read a little about bankruptcy but am struggling to understand the full results / process of becoming bankrupt - obviously it means no credit in the future but trust me this would be a god send! Is bankruptcy a viable option for me to wipe my debts and try and move on with my life? I work full time (claiming no benefits - none available for me) and my current income is just under £20,000 a year before tax (so around £1300 a month into my bank) - I am a member of a of a professional body (and need to be registered each year to maintain my current position - I'm not sure if my ability to register would be affected by bankruptcy? My role is not anything to do with finances etc). Although I am currently full time I am suffering from Rheumatoid Disease so becoming part time may be a necessity in the future. My current debts are: Shop direct (Very, K and Co, Woolworths, ISME) in excess of £7000 Bank Overdrafts (2) £3800 Vanquis £1200 Capital One £600 M&S Money £3000 PayPal £400 Provident £500 Studio £250 Current expenses: Rent: £500 Gas and electric: £100 Overdrafts £80 Broadband and Telephone: £20 Child Maintence £160 TV licence £12 Professional Reg Fee £12 House insurance £15 Council Tax £115 Mobile £90 (two contracts) Sky (in contract) £45 PayPal debt £40 Provident £54 So, after paying the above bills even WITHOUT paying for food, petrol or parking or the minimum payments to Shop Direct (£250+), Vanquis (£100), Capital One (£40). Im left with only £57 every month to survive. I understand that it can cost around £500 to be declared bankrupt but this amount has been promised to me by a close friend if needed (although no more assistance can be given).