DRO Questions

Hi spaniels rule

You can’t apply for a DRO jointly so both you and your partner will need to decide whether you want to apply individually. When you complete your sole application you need to include the full balance of the joint debts (do not halve them). Bear in mind if only one of you has a DRO the other person will remain liable for the full amount of the joint debt.

If a debt is statute barred it doesn’t have to be included on your application. That means when a creditor has run out of time to take court action on the debt, and this will usually apply if there has been 6 years without a payment, written acknowledgement or CCJ. To be on the safe side it’s best to include all debts, even the ones not showing on your credit file, once the DRO has been made no further debts can be added.

Susie
@natdebtline

Hello again


Yes absolutely, you should list all of your CCJs in the DRO application as they will be included. You will each have to owe less than £20,000 to qualify for the DRO and also have less than £50 per month available for your debts, have less than £1000 of assets, and if you own a car it must be worth less than £1000.


Susie
@natdebtline