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  • FIRST POST
    • The-Joker
    • By The-Joker 26th Oct 17, 11:27 AM
    • 389Posts
    • 468Thanks
    The-Joker
    Old couple DRO?
    • #1
    • 26th Oct 17, 11:27 AM
    Old couple DRO? 26th Oct 17 at 11:27 AM
    An old couple in their 70s who rent their home, both have retired and each have just under £20K credit card debt.

    Can they both do a DRO at the same time, because most of the paper work will be the same? The same 50% of all income and expenses, the same address and same bills ect. Only bank statements and a credit card statement will be a little different for each of them.

    They dont have a car or any investments, they are both on old age pension, but both a little dodery and dont really understand the interest rates they are keep paying when there is no chance they can ever pay off the capital.

    They are in absolute poverty with this debt hanging round their necks.

    Which debt company is best for dealing with older victims of the banksters? CAB were not patient enough and they didnt get anywhere. It stepchange or any of the others particulalry good with dementure sufferers?
    The thing about chaos is, it's fair.
Page 1
    • elsien
    • By elsien 26th Oct 17, 11:32 AM
    • 15,283 Posts
    • 38,363 Thanks
    elsien
    • #2
    • 26th Oct 17, 11:32 AM
    • #2
    • 26th Oct 17, 11:32 AM
    You say they are doddery, then go on to mention dementia.
    Before looking at options, do they have a formal dementia diagnosis, and (regardless of this) do they have the mental capacity to understand the financial implications of any decisions that they might make? If the answer is possibly not, then they're likely to need more help than just sorting out paying the debts.
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
    • The-Joker
    • By The-Joker 26th Oct 17, 12:07 PM
    • 389 Posts
    • 468 Thanks
    The-Joker
    • #3
    • 26th Oct 17, 12:07 PM
    • #3
    • 26th Oct 17, 12:07 PM
    You say they are doddery, then go on to mention dementia.
    Before looking at options, do they have a formal dementia diagnosis, and (regardless of this) do they have the mental capacity to understand the financial implications of any decisions that they might make? If the answer is possibly not, then they're likely to need more help than just sorting out paying the debts.
    Originally posted by elsien
    No official diagnosis

    just old and dodery

    Say if they did have an official diagnosis, would the creditors take that into consideration, and are there any other routes rather than DRO for such situations?
    The thing about chaos is, it's fair.
  • National Debtline
    • #4
    • 26th Oct 17, 4:53 PM
    • #4
    • 26th Oct 17, 4:53 PM
    Hi The-Joker


    It is possible to ask creditors to write off debts. Things that could be pointed out are if the person is elderly, in ill health, has no assets, has little spare money for the debt and if their circumstances are unlikely to improve. If there are medical issues it's best to try and get some evidence to support this. There's nothing to lose by asking.


    If a write off is not successful then a DRO could be considered. You can't have a joint DRO so they would both need to make an application, but it can done at the same time. It would be important that they were able to understand the DRO and it's implications. If they don't get face to face advice the application process will be via telephone conversations and forms through the post.


    You can get further advice on this from one of the free debt advice charities. I hope it all goes well.


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
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