Debt Relief Orders (DRO) - Information & help thread

fatbelly

moomoo22 wrote: »

I would just like to know if there is anything that I could bring with me to speed up the process a little bit? such as statements and maybe my credit report? It is unlikely that I will have the £90 fee on that particluar day but if there is anything else that could be useful.

Yes, latest statements for your debts, and bank account even if not overdrawn. Also, proof of income (wage slips, tax credit award notice). If you can produce an up-to-date Experian report, that would speed things up. Your AI will be able to get a free one but it will take about three weeks.

Ginger_Love

Hi Guys, just wondering if anyone can help with the SOA I posted a few days ago? We are hoping to get all of the offer letters out to creditors along with the SOA by tomorrow.

Once that is done we will be starting on the DRO forms.

My main concerns are:

1) Not all of the income I've placed on the SOA is mine alone, it's my wife's and the childrens child benefits.

2) There was some concern that some of the amounts on my SOA seemed high?

debrag

istanbul wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1484
Other income............................ 0
Total monthly income.................... 1484

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 120
Gas..................................... 120
Oil..................................... 0
Water rates............................. 54
Telephone (land line)................... 60
Mobile phone............................ 30
TV Licence.............................. 14
Satellite/Cable TV...................... 60
Internet Services....................... 30
Groceries etc. ......................... 600
Clothing................................ 150
Petrol/diesel........................... 120
Road tax................................ 0 - ?
Car Insurance........................... 0 - ?
Car maintenance (including MOT)......... 0 - ?
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 30
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 20
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 30
(Unnamed monthly expense)............... 0
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 1578


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0 - ?
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
provident......................800.......122.......0
catalogues.....................5000......200.......0
credit cards...................1200......30........0
overdraft......................2000......30........0
Total unsecured debts..........9000......382.......-


Monthly Budget Summary
Total monthly income.................... 1,484
Expenses (including HP & secured debts). 1,578
Available for debt repayments........... -94
Monthly UNsecured debt repayments....... 382
Amount short for making debt repayments. -476

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -9,000
Net Assets.............................. -9,000

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Is this a joint SOA? You have a car but pay no road tax, insurance or MOT what about how much the car is worth?

Sorry if already mentioned

fatbelly

debrag wrote: »

Is this a joint SOA? You have a car but pay no road tax, insurance or MOT what about how much the car is worth?

Sorry if already mentioned

It was a motobility car IIRC, so none of the above and value not relevant

Whatdo

hi,

I have read most of this thread, and in one post there was a hyper-link to some guidance notes that advised on the online application, in particular that DLA should be listed as Income and as an Expense.

I have lost the link and the pdf to which it referred, and have tried searching this thread and the insolvency site but no joy.

Please would somebody be able to post a link to any official documentation in this regard.


Many thanks.


..

philnicandamy

Whatdo wrote: »

hi,

I have read most of this thread, and in one post there was a hyper-link to some guidance notes that advised on the online application, in particular that DLA should be listed as Income and as an Expense.

I have lost the link and the pdf to which it referred, and have tried searching this thread and the insolvency site but no joy.

Please would somebody be able to post a link to any official documentation in this regard.


Many thanks.


..

this any help?

http://www.insolvency.gov.uk/bankruptcy/DRO/faq.htm

fatbelly

Whatdo wrote: »

hi,

I have read most of this thread, and in one post there was a hyper-link to some guidance notes that advised on the online application, in particular that DLA should be listed as Income and as an Expense.

I have lost the link and the pdf to which it referred, and have tried searching this thread and the insolvency site but no joy.

Please would somebody be able to post a link to any official documentation in this regard.

Was it the IMA resources?

http://www.i-m-a.org.uk/intermediary-resources.html

Specifically, from the guidance notes:

Income
Please indicate on the application form the debtor‟s total net monthly income following deduction of tax etc.
The debtor‟s income could derive from various sources, including wages, benefits and pensions. All benefits should be scheduled, including DLA, and in the instance of DLA, it is acceptable to record the same amount as expenditure. The debtor may also receive income from other areas, such as rental income, which should also be included on the form in the “other sources” field.

Whatdo

fatbelly wrote: »

Was it the IMA resources?

Yes....Many thanks. perfect.

here is the section I am after; page 44

Income
Please indicate on the application form the debtor‟s total net monthly income
following deduction of tax etc.
The debtor‟s income could derive from various sources, including wages,
benefits and pensions. All benefits should be scheduled, including DLA, and
in the instance of DLA, it is acceptable to record the same amount as
expenditure. The debtor may also receive income from other areas, such as
rental income, which should also be included on the form in the “other
sources” field.

The system will automatically calculate the debtor‟s total monthly income
(stated in the “Total Income” field) based on the figures included on the form.

Thanks again

Diddley_Squat

Hi

Firstly many thanks for helping me with my last query I have another one I'm afraid.

What happens when applying for a DRO and your son/daughter comes back to live with you due to them having marital difficulities...will this affect the DRO?

Thank you.

Orville

Diddley_Squat wrote: »

Hi

Firstly many thanks for helping me with my last query I have another one I'm afraid.

What happens when applying for a DRO and your son/daughter comes back to live with you due to them having marital difficulities...will this affect the DRO?

Thank you.

I doubt it. I also doubt if they need to know. I certainly wouldn't tell them.