Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
Page 224
    • fatbelly
    • By fatbelly 11th Feb 17, 12:44 PM
    • 10,656 Posts
    • 7,955 Thanks
    fatbelly
    Hi,
    Anyone know how this could affect my DRO? I'm three months from the DRO being fulfilled, but have recently had a car accident (not my fault). My car was valued at 850 by the DRO person. The insurers (Direct Line) have offered me 1050 saying that's the lowest price they offer everyone. Ordinarily, if I wasn't in the DRO situation I'd haggle the price up, but do I need to haggle it down to 1000?
    Apologies if I've put this in the wrong place, hurrying.
    Originally posted by Crooklock
    There are two issues:

    1. Was the car incorrectly valued? Not necessarily. Though I find it difficult to accept that Direct Line offer everyone a minimum of 1050. Might be worth buying A 50 one and crashing it

    2. You now have a lump sum of 1050. The guidance says:
    Where the value of the property, including lump sum payments, is between 1,000 and 1,850, each case will be assessed on its own merits taking into consideration numerous factors, including but not limited to liabilities, health, personal circumstances, age, etc. and a decision will be made on an individual basis as to whether it would be appropriate to revoke or not.
    • Mra199
    • By Mra199 11th Feb 17, 2:18 PM
    • 21 Posts
    • 5 Thanks
    Mra199
    Help please!
    I need help. I am currently in the process of sorting my debts out. I have a lot of creditors, 16/17 in total. Just under 13000 outstanding consisting of catalogues, payday loans unsecured loans and telecom. None of this was intentional and happened for unfortunate serious reasons. I am currently living with my partner and our baby under 1. My partner works full time but no contract and his shifts vary so does his pay. I am currently unemployed after mat leave and will be returning in August. At first we were advised a DMP which will take 10+ years to clear. That was as a joint budget. Going off my own share of the bills and my income (which is only benefit related) I have been advised a DRO. Looking at the criteria it seems I do qualify however there are a few things I'm unsure about and would really appreciate anyone's helps before I go through with the app. Creditor preferences? I am not sure what this means, there are outstanding balance I haven't even been able to make minimum payments to whatsoever and there is a doorstep lender I have which I haven't missed a payment for. Is this a preference? Also there is a very recent payday loan which I took because my partner was laid off at work and we had no income, he was to return to work the end of that month but then laid off again so hasn't been one payment made? Is this intentional debt and can I be refused for these reasons? I would really appreciate any advice!
    • Crooklock
    • By Crooklock 11th Feb 17, 4:12 PM
    • 2 Posts
    • 0 Thanks
    Crooklock
    ...
    I suspect the 1050 minimum payout statement was a glib effort by the claim handler to just get me off the phone.
    Valuation was originally done via Parkers website I think. I had no hand in it.
    • fatbelly
    • By fatbelly 11th Feb 17, 5:04 PM
    • 10,656 Posts
    • 7,955 Thanks
    fatbelly
    I suspect the 1050 minimum payout statement was a glib effort by the claim handler to just get me off the phone.
    Valuation was originally done via Parkers website I think. I had no hand in it.
    Originally posted by Crooklock
    Yes, the valuation has to be done (if possible) on Parkers' site. So it sounds like the original valuation was done correctly.

    If Direct Line were to offer you 850 there would be no issue on either count.
    • fatbelly
    • By fatbelly 11th Feb 17, 5:12 PM
    • 10,656 Posts
    • 7,955 Thanks
    fatbelly
    Looking at the criteria it seems I do qualify however there are a few things I'm unsure about and would really appreciate anyone's helps before I go through with the app. Creditor preferences? I am not sure what this means, there are outstanding balance I haven't even been able to make minimum payments to whatsoever and there is a doorstep lender I have which I haven't missed a payment for. Is this a preference? Also there is a very recent payday loan which I took because my partner was laid off at work and we had no income, he was to return to work the end of that month but then laid off again so hasn't been one payment made? Is this intentional debt and can I be refused for these reasons? I would really appreciate any advice!
    Originally posted by Mra199
    I wouldn't worry about it. The sense of the question is 'have you paid off one creditor knowing that you were going to do a DRO on the others?' Having said that, in the run-up to a DRO you should treat them all equally, and the best way to do that is to pay none of them. So stop paying the doorstep lender and don't pay the payday lender.

    The exception to this is rent arrears, which you are allowed to make payments to. TV licence is not a qualifying debt and obviously if you have car insurance or any joint financial product, then it makes sense to keep paying those.

    Feel free to ask if you have any other problems, but your intermediary should be able to answer any questions.
    • Mra199
    • By Mra199 11th Feb 17, 7:00 PM
    • 21 Posts
    • 5 Thanks
    Mra199
    Thank you so much for your response. That makes much more sense, I did pay the doorstep lender off in full early last year because of pressure but I had no idea about a DRO then or any debt remedy and obviously since then renewed the loan much to my discretion... When things got bad and I was unable to make payments to creditors I only made the payments to him again because of pressure. I will take your advice and treat them all the same as of now. Thank you!
    • Mra199
    • By Mra199 14th Feb 17, 9:33 PM
    • 21 Posts
    • 5 Thanks
    Mra199
    Sooo, I've sent all my documents to step change and will hopefully hear back soon, anyone have idea how long the process takes? I've received an email back from them confirming receipt and that someone will be in touch when it's been reviewed.

    Also any idea on door step lenders? I'm not quite sure what to say to him and haven't left the house since weekend incase he sees me
    Never missed a payment with him and he constantly goes on about how his customers respect him and know not to miss a payment with him... Little bit scary.

    Do I send a letter, do I mention a DRO application? Have tried calling head office but so far haven't got through..

    Feeling the pressure!
    • azzadle
    • By azzadle 15th Feb 17, 8:22 AM
    • 39 Posts
    • 13 Thanks
    azzadle
    My DRO is.. OVER!

    Six long years after recklessness as a teenager ruined my finances, the shackles are off. I won't be doing that again..
    • Slateford1
    • By Slateford1 12th Mar 17, 7:44 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    Hi,

    Help please, I'm currently in the process of applying for a dro but I have a major issue, I have 14 criditord and debts of 8000 I recently received 1200 from an insurance claim of which I paid my friend back nearly 1000, this had to be done as he was getting threatened with eviction and his family it will be seen as priority payment but it had to be paid as I was pressured heavily by his family and his families welfare was a priority... all my fault I know!! Will this mean I get revoked or not?? Thanks
    • fatbelly
    • By fatbelly 12th Mar 17, 7:54 AM
    • 10,656 Posts
    • 7,955 Thanks
    fatbelly
    The application can be declined

    http://www.i-m-a.org.uk/wp-content/uploads/2013/07/Preferences-and-Antecedent-Transactions-Guidance.pdf

    That doesn't mean it will be. The longer period between this transaction and your application, the better. When did it happen? When did you start getting advice from your intermediary?
    • Slateford1
    • By Slateford1 12th Mar 17, 9:49 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    Hi
    Hi, I got the application forms yesterday and the payout was early January, it was a case of 'having to pay' especially as it affected his family and kids would have been vulnerable if I hadn't stuck to payment.

    On the bigger picture I'm left with literally 10 pound surplus so if this gets rejected what will be my other most likely option?
    • fatbelly
    • By fatbelly 12th Mar 17, 10:10 AM
    • 10,656 Posts
    • 7,955 Thanks
    fatbelly
    OK, a 2-month gap already then. With 8k debt and 10surplus, this sounds like the way forward.

    There are no official application forms, apart from the website application that the intermediary fills in.

    I suspect you have got forms from Stepchange or similar.

    What does the question say, relating to his matter, that they are asking you? is it 'Have you preferred any creditors over others in your payments in the last 2 years?
    Last edited by fatbelly; 12-03-2017 at 10:12 AM.
    • Slateford1
    • By Slateford1 12th Mar 17, 11:01 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    I've spoken to the 'expert' and they said it's entirely down to the IP and it could go either way, but they also said they will forward the application as it as a good chance of succeeding because of my current circumstances and it was a pressured payment.

    I've just worried that if it gets declined I'm stuck more than ever. They did mention token payment until things change, this I can live with for sure but the problem will still be there.

    Any advice greatly received
    • Slateford1
    • By Slateford1 12th Mar 17, 11:03 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    Yes it's been mentioned the priority payment but I was left with little choice, also if I wasn't to go with this company and select another would they be no the wiser if I don't declare this payment? Risky I know or do I take my chance??
    • fatbelly
    • By fatbelly 12th Mar 17, 12:31 PM
    • 10,656 Posts
    • 7,955 Thanks
    fatbelly
    I've spoken to the 'expert' and they said it's entirely down to the IP and it could go either way, but they also said they will forward the application as it as a good chance of succeeding because of my current circumstances and it was a pressured payment.

    I've just worried that if it gets declined I'm stuck more than ever. They did mention token payment until things change, this I can live with for sure but the problem will still be there.

    Any advice greatly received
    Originally posted by Slateford1
    Yes it's been mentioned the priority payment but I was left with little choice, also if I wasn't to go with this company and select another would they be no the wiser if I don't declare this payment? Risky I know or do I take my chance??
    Originally posted by Slateford1
    Yes , if that was someone you owed money to then I agree you should declare it and then the decision is down to the DRO Team at the Insolvency Service.

    Presumably that wiped out your debt to that person.

    I think my advice would be the same as in your 1st paragraph
    • sourcrates
    • By sourcrates 12th Mar 17, 12:33 PM
    • 10,536 Posts
    • 10,330 Thanks
    sourcrates
    Yes it's been mentioned the priority payment but I was left with little choice, also if I wasn't to go with this company and select another would they be no the wiser if I don't declare this payment? Risky I know or do I take my chance??
    Originally posted by Slateford1
    As far as i am aware, and Fatbelly will correct me if i`m wrong, but i dont think any checks are done on your bank account, for example, you do not have to send in copies of bank statements.

    The only way they would know is if you told them.

    The whole DRO process relies (mainly) on the honesty of the debtor.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • fatbelly
    • By fatbelly 12th Mar 17, 12:56 PM
    • 10,656 Posts
    • 7,955 Thanks
    fatbelly
    As far as i am aware, and Fatbelly will correct me if i`m wrong, but i dont think any checks are done on your bank account, for example, you do not have to send in copies of bank statements.

    The only way they would know is if you told them.

    The whole DRO process relies (mainly) on the honesty of the debtor.
    Originally posted by sourcrates
    That's right.

    Again it's one of those cases that they can check what they want. But in practice 90 doesn't buy much routine checking, other than a credit check and a check of the insolvency records.

    Unless it's critical that you go for a DRO now (bailiffs acting for example) then a bit more of a gap between the preference and the application wouldn't go amiss.
    • Slateford1
    • By Slateford1 12th Mar 17, 1:47 PM
    • 15 Posts
    • 1 Thanks
    Slateford1
    Cheers guys I'll keep you updated much appreciated
    • Slateford1
    • By Slateford1 13th Mar 17, 9:15 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    I'm currently having to wait a few week to send my application in because I did a bit of overtime a few week ago.. so this is delaying everything but in the meantime can I offer a pound a month?? The reason I'm saying this is because of obvious grief of companies one of which as refused a pound? I thought they couldn't refuse?? Cheers
    • sourcrates
    • By sourcrates 13th Mar 17, 10:25 AM
    • 10,536 Posts
    • 10,330 Thanks
    sourcrates
    I'm currently having to wait a few week to send my application in because I did a bit of overtime a few week ago.. so this is delaying everything but in the meantime can I offer a pound a month?? The reason I'm saying this is because of obvious grief of companies one of which as refused a pound? I thought they couldn't refuse?? Cheers
    Originally posted by Slateford1

    Just write a letter to each creditor informing them of your pending debt relief order, and leave it at that.
    Why bother paying anything ?

    If your getting a DRO it's a waste of time and your money.

    If your worried about calls and letters, ask for all correspondence in writing only, then choose which you open.

    Debt collection takes a long time, original creditors virtually never take you to court, nothing will happen in the mean time.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,738Posts Today

8,448Users online

Martin's Twitter
  • Just a quick ta-ta for now. I'm taking the week off for family time with mini and Mrs MSE. So I won't be here much. Back after the bank hol

  • Ugh another one trying it! Beware https://t.co/Ab9fCRA76F

  • Just looking at the final(ish) Premier League table. The gap between the top seven and the rest is huge. Has it ever been more lopsided?

  • Follow Martin