Debt Relief Orders (DRO) - Information & help thread

Orville

MadMan-JaMeS wrote: »

I have about 8k worth of debt, don't recieve any benefits and certainly do not have £50 spare at the the end of the month.

How long do DRO normally take to setup ? and would it include my debt with wonga.com ?

Yes it would include your debt with wonga.

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

Do you meet the requirements?. If you do the setting up of the DRO can vary. With me it was under a month. For some others it has dragged on for a good while.

You should fill out a SOA and post it here to begin with.

azzadle

I got my first pre-submission form in August, kept putting off because I was determined to deal with it myself but it just wasn't happening. Made a few alterations and sent it back on the 27th Jan, got another one on the 2nd Feb to confirm the alterations, sent that back, phoned PayPlan today and they said it'd been approved today.

All in all I reckon you could get it through in 3 weeks or so. It's such a relief now, it really is!

Btw, hello fellow OcUK'er

sicko666

immoral_angeluk wrote: »

Re the interest, yes it is still accruing but at the end of the moratorium it'll all be written off anyway, so as long as when your application is processed that interest hasn't taken you over the 15k limit it will only affect you if your DRO is revoked.
I hope that reassures you some!

:T:T:T:T:):) It certainly does,thank you! :):)

This is my ( hopefully! ) final post...

The Insovancy Service sent me a letter a couple of days after my DRO request was submitted ( lol i have never known any government body to act so fast! ) and they have accepted my application!!!!!
I cant tell you what a relief it finally is, ALL annoying phone calls have stopped and i have only received 1 letter , from CapitalOne, saying they "may" contest the judgement but i havent heard anything else from them or from the IS, or my solicitor, so i am guessing all the companies i owed money to have finally realized i dont have any money or assets they could seize.

I guess all i wanted to say is "THANK YOU ALL", you have been the only source of real information to me, and i reckon a lot of people like me, who have never been through anything like this before, lol, and who are not solicitors themselves that talk in contractual clauses and sub-clauses!

To all the people out there who are, like i was petrified, about being in so much debt that i could never,ever,pay off.Listen to these people, they know exactly what they are talking about. Also if like me you are told you will have to use a solicitor, its not as painful as i thought it first sounded and the relief at the end is undescribable.
Dont give up hope and dont let those demanding money pressure you!

Orville

azzadle wrote: »

Btw, hello fellow OcUK'er

If that was aimed at me.


HI...!:D

immoral_angeluk

azzadle wrote: »

I got my first pre-submission form in August, kept putting off because I was determined to deal with it myself but it just wasn't happening. Made a few alterations and sent it back on the 27th Jan, got another one on the 2nd Feb to confirm the alterations, sent that back, phoned PayPlan today and they said it'd been approved today.

All in all I reckon you could get it through in 3 weeks or so. It's such a relief now, it really is!

Btw, hello fellow OcUK'er

Times really vary dependant on where you go. The norm is 3-4 weeks with us, but before now I've done one same day for a woman who was totally prepared, had her recent credit report, proof of income and letters from creditors... so it really varies. Preparation and organisation definitely helps though

sarah_barker

Hi,
I reached the end of my moratorium period in November 2010 and everything seemed fine (no hassle etc), except i've just recently received a statement from halifax (one of the creditors) asking for a full payment now after not hearing anything for well over 12 months, is this normal i.e. has anyone else experienced it & should i just ignore it?
Also, i'm aware that i'll have a note on my credit file now, but when will i realistically (sensibly of course) be able to apply for credit again?

immoral_angeluk

sarah_barker wrote: »

Hi,
I reached the end of my moratorium period in November 2010 and everything seemed fine (no hassle etc), except i've just recently received a statement from halifax (one of the creditors) asking for a full payment now after not hearing anything for well over 12 months, is this normal i.e. has anyone else experienced it & should i just ignore it?
Also, i'm aware that i'll have a note on my credit file now, but when will i realistically (sensibly of course) be able to apply for credit again?

Was the HSBC debt definitely included in the DRO? Write to HSBC telling them your DRO has been discharged and therefore your liability for the debt has been discharged. If they persist then file a formal complaint before reporting them to the OFT.

The DRO will negatively affect your credit rating for 6 years, but you can apply for credit anytime.

hungrymanhere

Hi, i am 6 months into my DRO and was wondering what is the process once the year is up? What documents do i need to show or complete etc if my circumstances don't change. Sorry if this has already been covered. Thanks.

immoral_angeluk

hungrymanhere wrote: »

Hi, i am 6 months into my DRO and was wondering what is the process once the year is up? What documents do i need to show or complete etc if my circumstances don't change. Sorry if this has already been covered. Thanks.

If nothing has changed then you don't need to do anything, your discharge will be automatic and the debts written off so long as they weren't accrued by fraud.

hungrymanhere

Brill, thanks Immoral Angel.