beneficiary interest and DRO

debtdepressed · 22 July 2017 at 1:38PM

Established being the key word! well nothing is established. I will be going ahead with DRO anyway, just got my experian credit report and all paper work filled out, just need to post it! nerve wrecking.

Ive also been bombarded by a company called debt advisory centre, i made enquiries weeks ago with several companies. Anyway having gone through what i already have with stepchange and NDL they said i qualify for a DRO and will email me application which is managed by gregory pennington. Never heard of these cant really see any positives on internet search either, i know they charge for services but not DRO.
Its good to have options but NDL have been the most understanding and helpful so far, just need the courage to post my application.

National_Debtline · 25 July 2017 at 12:08PM

Hi again

Have only just managed to check back in on this thread - OP I am sorry to hear there have been a few hiccups and false starts but hopefully you will be able to get a DRO set up in the end. Remember that sending in the completed application is not a binding commitment of any sort, just a way of getting yourself in the "queue" for now.

Dennis
@natdebtline

debtdepressed · 25 July 2017 at 1:11PM

Thanks Dennis.

Yes im moving forward with NDL im posting the application this weekend, followed by my bank statement, going to have to request this soon.

debtdepressed · 26 July 2017 at 1:09PM

For anyone of interest.

I made an enquiry to the insolvency service regarding beneficial interest a week or two ago.
I got a call from them today.
There advice was beneficial interest (in a partners mortgaged property) as long as your are not on any deeds, contributed towards the mortgage, contibuted in any home improvements that will increase the house value, a partner is not seen to have an interest (unless there is a evidence for example something wrote up by a solicitor to say your entitled to x amount etc) in the property, wether they have provided childcare or not. (in my case thats why i was advised against a DRO)
This is for anyone that is interested in applying for a DRO were their partner owns a house.
Doesnt mean organisations cant ask the questions and advise you against the DRO its just their guidelines as per what i was told from the insolvency service. If IS want to investigate further they will get in touch (in this case i guess it will be hard to evidence, other than mortgage statements etc)

This is just my experience and the information i received i would always take advice from the debt charities unless you really believe there wrong go somewhere else.

fatbelly · 26 July 2017 at 6:53PM

debtdepressed wrote: »

Their advice was that there is no beneficial interest (in a partner's property) as long as your are not on any deeds, contributed towards the mortgage, or have contributed to any home improvements that will give an increase to the house value,

A partner is not seen to have an interest unless there is evidence, for example evidence from a solicitor to say that you are entitled to a particular amount in the property.

Whether they have provided childcare or not is irrelevant.

OK, I've polished up the grammar and spelling for you. If that still accurately reflects what you were told by the IS, why not email it to the DRO team at Stepchange?

debtdepressed · 26 July 2017 at 7:19PM

hahaha thanks fatbelly, you wouldnt think i had an A grade in english GCSE all the way back to 16 years ago! i blame texting and kids my spelling is awful. Shame i didnt learn how to manage money in school!

You reckon they would listen anyway? i mean the first person i spoke to advised to seek more advice from insolvency service, but the DRO team at stepchange did say i did have beneficial interest!!!
Its just the worry of them highlighting my application to say "beneficial interest".

And thankyou for all the advice on here been great along with a few others seen excellent advice and makes me feel like im not alone

beneficiary interest and DRO

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