Debt Relief Orders (DRO) - Information & help thread

immoral_angeluk

michellew wrote: »

K this is a bit convoluted, Is it possible for me to have a DRO and hubby a DMP ( he wont even consider bankruptcy and wont qualify for a DRO due to an old pension) and if so how would we do the SOA? Some debts are joint and will go all to him I guess, we are only on benefits except for about £20 a week he gets from a cycling session he runs for a disability charity

Depends on your intermediary. They will probably do a financial statement based on just you and a 'contribution' from your husband. Depends really... As DROs are personal so long as the debts are solely in his name, payments towards his debts can be included on a FS so long as you are not liable for them.

michellew_2

Thanks hun, think we'd better go through CAB for this one as it will be hard to sort over the phone - hopefully get a good one

immoral_angeluk

michellew wrote: »

Thanks hun, think we'd better go through CAB for this one as it will be hard to sort over the phone - hopefully get a good one

Fingers crossed

megansmith

definately it is helpful to those people who are not in good financial condition and unable to repay their debts.

harry2321

it is not suitable for you.

cd36uk

One of my creditors (Halifax) has sent a statement as usual, but printed on it says they will take funds from other accounts as I have fallen behind with payments etc. Although the bank has agreed to accept my pro rata reduced payment (I have that in writing)
My children have savings with the same bank, and I am listed as trustee for them.
Should I worry that they will dip into my children's savings with all things considered?

SimIsOnTheUp

cd36uk wrote: »

One of my creditors (Halifax) has sent a statement as usual, but printed on it says they will take funds from other accounts as I have fallen behind with payments etc. Although the bank has agreed to accept my pro rata reduced payment (I have that in writing)
My children have savings with the same bank, and I am listed as trustee for them.
Should I worry that they will dip into my children's savings with all things considered?

Hi cd36uk,

I would just withdraw your children's savings pronto, and deposit the money, into a different bank account.

Banks are starting to dip into other related accounts, more often these days.

Have look on the MSE boards, for advice regarding a 'Basic' bank account, which is unrelated to the Halifax.

SimIsOnTheUp

Bhindi_Bhaji wrote: »

Hi, long term follower of this thread but i've never posted (or joined)

I had to say that was my experience of baines & ernst,
I felt it was going to be a slog with them and I felt like it was a bit of a sales pitch so despite the long wait I went with national debtline and my dro started feb this year

Hi BB,

It's great to hear you got the help you needed, through National Debtline.

Even better to hear, that you didn't fall for the sales pitch, at B&E!

Sim

cd36uk

SimIsOnTheUp wrote: »

Hi cd36uk,

I would just withdraw your children's savings pronto, and deposit the money, into a different bank account.

Banks are starting to dip into other related accounts, more often these days.

Have look on the MSE boards, for advice regarding a 'Basic' bank account, which is unrelated to the Halifax.

Thanks for the advice. I really cannot be bothered with the hassle of opening new accounts for my kids' savings, but know I must, just wish it was more straight foward than it is... trapesing up there with birth certificates and sitting whilst they complete the paperwork.
Guess I am going to have to grin and bear it though. Thanks

SimIsOnTheUp

Thanks RA.

It needed to be said!