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Debt Relief Orders (DRO) - Information & help thread
Comments
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You'd need to do a full one and include all expenditure. Have a look at southerscouser's first time posters thread on debt free wannabe, which has details of how to do a full SOA.well i get 420 ctc and 135 cb, dh gets 260 wtc and 600 from work. our rent is covered by housing benefit less 160.Total 'Failed Business' Debt £29,043
Que sera, sera.
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First off sorry if this is a similiar question already answered but my brain feels like its going to explode and i feel i should ask before that happens!
I am seriously thinking of applying for a DRO, i have roughly £5000 of debt on 5 credit cards, and £1000 of debt on my bank overdraft. I am disabled and used to get "Serve Disability Benefit" (not to sure what its latest name is),and income support, as well as full rent and council tax benefit.I have no car and no money.The questions are,and what i cant seem to find out about anywhere is....
1) what are "Assets",if i apply for a DRO will bailiffs visit and clear my flat of everything? I know the cooker is safe but would they take my old pc,tv,sofa,table,etc....?
2) would the bank refuse any sort of future overdraft? I am guessing yes,but now benefits are paid fortnightly and everyone will only accept Direct Debits a little over draft would stop those huge fines because the social works on a "Day" system (ie Thursday) for payment, and bills work by "Date" ie every 2nd of the month....?
I ask such questions because i did apply for a DRO before but was refused because i had "assets" in the form of life insurance to berry me with when i die and i had to surrender it first, which i did and spread the little it was worth to my creditors (now when i go the council will have to pay to plants me unfortunately!)......
Please advise as most of this talk is way,way, above my little brains capacity,even though this place is the best, better than ANY of the other places i have searched through (God only knows what language there are written in but its not English!!!!!!!).....:wall:0 -
I am disabled and used to get "Serve Disability Benefit" (not to sure what its latest name is),and income support, as well as full rent and council tax benefit.I have no car and no money.The questions are,and what i cant seem to find out about anywhere is....
Hi Sicko - I'll try to write in English!
Firstly, you do need to check what benefits you are on. Could it be DLA (Disability Living Allowance)? Or is it just that you get 96.45 per week Income Support, which would mean that you have the disability premium added to your IS.
Either way, your Approved Intermediary should have little trouble getting you under the £50 per month surplus income limit.
OK so far?1) what are "Assets",if i apply for a DRO will bailiffs visit and clear my flat of everything? I know the cooker is safe but would they take my old pc,tv,sofa,table,etc....?:
None of these are assets in a DRO. No bailiffs! You're safe.2) would the bank refuse any sort of future overdraft? I am guessing yes,
You're guessing right. You are going to list your overdraft as a debt. The account would be frozen and that bank are unlikely to give you another account for some time.
Plenty others out there... A lot of us like the Co-Op. Just keep in credit in the future
fb0 -
I ask such questions because i did apply for a DRO before but was refused because i had "assets" in the form of life insurance to berry me with when i die and i had to surrender it first, which i did and spread the little it was worth to my creditors (now when i go the council will have to pay to plants me unfortunately!)......
Was your application submitted to the IS,and then refused, or did your intermediary advise you not to go ahead?I used to be Snow White, but I drifted.Mae West
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Hi Sicko - I'll try to write in English!
Firstly, you do need to check what benefits you are on. Could it be DLA (Disability Living Allowance)? Or is it just that you get 96.45 per week Income Support, which would mean that you have the disability premium added to your IS.
Either way, your Approved Intermediary should have little trouble getting you under the £50 per month surplus income limit.
OK so far?
None of these are assets in a DRO. No bailiffs! You're safe.
You're guessing right. You are going to list your overdraft as a debt. The account would be frozen and that bank are unlikely to give you another account for some time.
Plenty others out there... A lot of us like the Co-Op. Just keep in credit in the future
fb
May i just say that before you do actually go for a DRO, i would get yourself another bank account with a different bank and transfer your benefits to that one. If you get this sorted before hand you will save yourself loads of trouble further down the line.
As fat said do NOT worry about bailiffs. Bailiffs are nothing to do with a DRO, no attending court nothing so try to remain at ease on that one. Infact the only thing you might have to attend is the CAB (if you go with them) on the day they enter you application for a DRO. Apart from that there is no other need to attend anything, except an initial appointment to go through your finances.:D0 -
immoral_angeluk wrote: »Tell me about it, I'm waiting for my intermediary log in!! Very frustrating as I got my password friday.. lol
I have been told it will still be down on Monday 18th and not available until Tuesday 19th?0 -
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