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  • FIRST POST
    • spaniels rule
    • By spaniels rule 5th Sep 17, 11:54 AM
    • 25Posts
    • 1Thanks
    spaniels rule
    DRO Questions
    • #1
    • 5th Sep 17, 11:54 AM
    DRO Questions 5th Sep 17 at 11:54 AM
    HI all,

    My partner and I are thinking of doing DRO.

    What happens if some of our debts are joint, do I have the debt or put the full amount?
    Also if a debt is years old do I include it or just include all the ones on the credit files?

    Thanks
Page 1
  • National Debtline
    • #2
    • 5th Sep 17, 12:39 PM
    • #2
    • 5th Sep 17, 12:39 PM
    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
    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
    • spaniels rule
    • By spaniels rule 5th Sep 17, 2:12 PM
    • 25 Posts
    • 1 Thanks
    spaniels rule
    • #3
    • 5th Sep 17, 2:12 PM
    • #3
    • 5th Sep 17, 2:12 PM
    Thanks

    We have ccj's too can they be included?
    Thanks
  • National Debtline
    • #4
    • 5th Sep 17, 2:35 PM
    • #4
    • 5th Sep 17, 2:35 PM
    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
    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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